Algonquin Power & Utilities (TSE:AQN) Shares Down 6.6% Following Weak Earnings

Algonquin Power & Utilities Corp. (TSE:AQN)’s stock price fell 6.6% on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as C$6.17 and last traded at C$6.38. 1,545,567 shares changed hands during trading, a decline of 31% from the average session volume of 2,230,205 shares. The stock had previously closed at C$6.83.

The company reported C$0.06 EPS for the quarter, missing analysts’ consensus estimates 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%.

Insider Buying and Selling

In related news, Director David Levenson purchased 62,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average price of C$6.45 per share, for a total transaction of C$399,900.00. Also, Director Dilek Samil sold 17,400 shares of the business’s 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. 0.06% of the stock is owned by insiders.

Algonquin Power & Utilities Stock Performance

The company has a current ratio of 0.92, a quick ratio of 0.37 and a debt-to-equity ratio of 154.35. The company has a market cap of C$3.55 billion, a P/E ratio of -3.28, a price-to-earnings-growth ratio of 1.07 and a beta of 0.52. The company has a 50 day moving average price of C$6.56 and a 200-day moving average price of C$6.85.

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.