Algonquin Power & Utilities (TSE:AQN) Stock Price Down 6.4% After Earnings Miss

Algonquin Power & Utilities Corp. (TSE:AQN) dropped 6.4% during mid-day trading on Friday following a dissappointing earnings announcement. The stock traded as low as C$6.17 and last traded at C$6.39. Approximately 4,622,364 shares changed hands during mid-day trading, an increase of 104% from the average daily volume of 2,269,075 shares. The stock had previously closed at C$6.83.

The company reported C$0.06 earnings per share for the quarter, missing the consensus estimate of C$0.09 by C($0.03). Algonquin Power & Utilities had a negative net margin of 39.22% and a negative return on equity of 19.30%. During the same period in the prior year, the business earned $0.16 earnings per share.

Insider Buying and Selling at Algonquin Power & Utilities

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

Algonquin Power & Utilities Stock Performance

The company has a quick ratio of 0.37, a current ratio of 0.92 and a debt-to-equity ratio of 154.35. The company has a 50-day moving average price of C$6.57 and a 200-day moving average price of C$6.85. The firm has a market capitalization of C$3.73 billion, a price-to-earnings ratio of -3.45, a P/E/G ratio of 1.07 and a beta of 0.52.

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.