Algonquin Power & Utilities (TSE:AQN) Sets New 12-Month Low – Should You Sell?

Algonquin Power & Utilities Corp. (TSE:AQN)’s stock price reached a new 52-week low on Wednesday . The company traded as low as C$6.42 and last traded at C$6.45, with a volume of 1661276 shares changing hands. The stock had previously closed at C$6.59.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott upgraded Algonquin Power & Utilities to a “hold” rating in a report on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Algonquin Power & Utilities currently has an average rating of “Hold” and an average price target of C$5.50.

Algonquin Power & Utilities Price Performance

The business has a fifty day simple moving average of C$6.88 and a 200-day simple moving average of C$7.65. The company has a debt-to-equity ratio of 108.48, a quick ratio of 0.37 and a current ratio of 0.97. The stock has a market capitalization of C$4.94 billion, a P/E ratio of 29.95, a PEG ratio of 1.07 and a beta of 0.52.

Algonquin Power & Utilities Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.088 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio is currently 163.64%.

Insider Buying and Selling

In related news, Director Christopher Huskilson purchased 25,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average cost of C$6.65 per share, with a total value of C$166,252.50. 0.06% of the stock is owned by company insiders.

Algonquin Power & Utilities Company Profile

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.