Algonquin Power & Utilities Corp. (TSE:AQN) Plans Dividend Increase – $0.47 Per Share

Algonquin Power & Utilities Corp. (TSE:AQN – Get Rating) declared a quarterly dividend on Thursday, May 12th, Zacks reports. Stockholders of record on Thursday, June 30th will be given a dividend of 0.467 per share on Friday, July 15th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 10.26%. The ex-dividend date of this dividend is Wednesday, June 29th. This is an increase from Algonquin Power & Utilities’s previous quarterly dividend of $0.21.

AQN stock opened at C$18.20 on Friday. The company has a market cap of C$12.26 billion and a P/E ratio of 34.60. Algonquin Power & Utilities has a 1 year low of C$17.14 and a 1 year high of C$20.19. The company has a debt-to-equity ratio of 82.26, a current ratio of 0.69 and a quick ratio of 0.39. The stock’s fifty day moving average price is C$19.06 and its 200-day moving average price is C$18.28.

Algonquin Power & Utilities (TSE:AQN – Get Rating) last released its quarterly earnings results on Thursday, March 3rd. The company reported C$0.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C$0.27. The firm had revenue of C$749.89 million during the quarter, compared to analysts’ expectations of C$761.72 million. As a group, analysts expect that Algonquin Power & Utilities will post 1.04 earnings per share for the current year.

Several equities analysts recently weighed in on AQN shares. National Bankshares downgraded Algonquin Power & Utilities to a “hold” rating in a research report on Wednesday, May 4th. National Bank Financial downgraded Algonquin Power & Utilities from an “outperfrom under weight” rating to a “sector perform under weight” rating in a research report on Tuesday, May 3rd. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$20.00.

Algonquin Power & Utilities Company Profile (Get Rating)

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada, the United States, Chile, and Bermuda. It generates and sells electrical energy through renewable and clean energy power generation facilities.

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