Shares of Algonquin Power & Utilities Corp (TSE:AQN) hit a new 52-week high on Thursday . The company traded as high as C$25.17 and last traded at C$25.10, with a volume of 878,833 shares. The stock had previously closed at C$13.36.

A number of analysts have weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Algonquin Power & Utilities Corp in a report on Tuesday, June 20th. They set a “market perform” rating on the stock. Raymond James Financial, Inc. increased their target price on shares of Algonquin Power & Utilities Corp from C$15.00 to C$16.00 and gave the stock a “strong-buy” rating in a report on Friday, August 11th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of C$14.14.

The company has a market capitalization of $5.19 billion and a PE ratio of 61.74. The stock’s 50-day moving average price is $13.31 and its 200 day moving average price is $13.31.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a $0.116 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.45%. This is a boost from Algonquin Power & Utilities Corp’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, September 28th.

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Algonquin Power & Utilities Corp Company Profile

Algonquin Power & Utilities Corp. (APUC) is a Canada-based company engaged in owning and operating a portfolio of regulated and non-regulated generation, distribution and transmission utility assets. APUC’s operations are organized across three business units consisting of Generation, Transmission and Distribution.

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