Shares of Algonquin Power & Utilities Corp. (TSE:AQN – Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$8.11 and traded as high as C$8.45. Algonquin Power & Utilities shares last traded at C$8.42, with a volume of 1,591,861 shares changing hands.
Analysts Set New Price Targets
Separately, Desjardins raised shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research note on Monday, March 11th.
Check Out Our Latest Research Report on AQN
Algonquin Power & Utilities Trading Down 0.6 %
Algonquin Power & Utilities (TSE:AQN – Get Free Report) last announced its quarterly earnings results on Friday, March 8th. The company reported C$0.22 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.19 by C$0.03. The company had revenue of C$908.00 million for the quarter, compared to analysts’ expectations of C$1 billion. Algonquin Power & Utilities had a net margin of 1.06% and a negative return on equity of 0.47%. As a group, analysts forecast that Algonquin Power & Utilities Corp. will post 0.6970954 EPS for the current fiscal year.
Algonquin Power & Utilities Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.294 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.18 annualized dividend and a yield of 14.05%. Algonquin Power & Utilities’s dividend payout ratio is currently 1,475.00%.
About Algonquin Power & Utilities
Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.
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