Algonquin Power & Utilities Corp. (AQN) To Go Ex-Dividend on March 31st

Algonquin Power & Utilities Corp. (NYSE:AQN) announced a quarterly dividend on Friday, March 7th, NASDAQ Dividends reports. Investors of record on Monday, March 31st will be given a dividend of 0.065 per share by the utilities provider on Tuesday, April 15th. This represents a $0.26 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date is Monday, March 31st.

Algonquin Power & Utilities has a dividend payout ratio of 74.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Algonquin Power & Utilities to earn $0.31 per share next year, which means the company should continue to be able to cover its $0.26 annual dividend with an expected future payout ratio of 83.9%.

Algonquin Power & Utilities Trading Up 0.5 %

NYSE AQN opened at $5.20 on Friday. The firm has a market capitalization of $3.99 billion, a PE ratio of -4.03 and a beta of 0.71. The business’s 50-day moving average price is $4.78 and its two-hundred day moving average price is $4.84. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. Algonquin Power & Utilities has a 12 month low of $4.19 and a 12 month high of $6.79.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results on Friday, March 7th. The utilities provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.04). Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The company had revenue of $584.80 million during the quarter, compared to the consensus estimate of $644.73 million. On average, analysts expect that Algonquin Power & Utilities will post 0.38 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AQN shares. Royal Bank of Canada lowered their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $7.00 price objective on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. National Bankshares decreased their target price on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. Finally, Scotiabank boosted their price target on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Algonquin Power & Utilities currently has an average rating of “Hold” and an average price target of $5.94.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.