Algonquin Power & Utilities (TSE:AQN) Sets New 1-Year High – Should You Buy?

Shares of Algonquin Power & Utilities Corp. (TSE:AQN) reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$24.50 and last traded at C$6.56, with a volume of 3099361 shares trading hands. The stock had previously closed at C$6.54.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott upgraded shares of 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$5.50.

Algonquin Power & Utilities Stock Performance

The company has a quick ratio of 0.37, a current ratio of 0.97 and a debt-to-equity ratio of 108.48. The firm has a market capitalization of C$5.03 billion, a PE ratio of 29.82, a P/E/G ratio of 1.07 and a beta of 0.52. The firm’s 50-day moving average price is C$6.62 and its two-hundred day moving average price is C$7.37.

Algonquin Power & Utilities Cuts Dividend

The business 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. The ex-dividend date is Tuesday, December 31st. This represents a $0.35 annualized dividend and a yield of 5.37%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently 163.64%.

Insider Buying and Selling

In other news, Director Dilek Samil sold 17,400 shares of Algonquin Power & Utilities stock in a transaction dated Monday, December 16th. The shares were sold at an average price of C$6.46, for a total transaction of C$112,421.40. Also, Director David Levenson purchased 62,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was bought at an average price of C$6.45 per share, for a total transaction of C$399,900.00. 0.06% of the stock is owned by insiders.

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.