Guardian Partners Inc. Makes New $653,000 Investment in Algonquin Power & Utilities Corp. (NYSE:AQN)

Guardian Partners Inc. acquired a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 146,523 shares of the utilities provider's stock, valued at approximately $653,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AQN. SVB Wealth LLC purchased a new stake in Algonquin Power & Utilities in the 4th quarter valued at $49,000. Capstone Investment Advisors LLC acquired a new stake in shares of Algonquin Power & Utilities during the third quarter worth about $58,000. Avantax Advisory Services Inc. purchased a new position in shares of Algonquin Power & Utilities during the fourth quarter worth about $58,000. Walleye Capital LLC acquired a new position in Algonquin Power & Utilities in the 3rd quarter valued at about $59,000. Finally, Ballentine Partners LLC purchased a new stake in Algonquin Power & Utilities during the 4th quarter valued at approximately $63,000. Institutional investors and hedge funds own 62.28% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. National Bankshares dropped their price target on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating on the stock in a research note on Tuesday, February 11th. Scotiabank increased their price target on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a "sector perform" rating in a report on Thursday, February 13th. Royal Bank of Canada decreased their price objective on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating on the stock in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Algonquin Power & Utilities currently has a consensus rating of "Hold" and an average price target of $5.94.

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Algonquin Power & Utilities Price Performance

AQN stock traded up $0.03 on Friday, reaching $5.20. The company had a trading volume of 8,019,990 shares, compared to its average volume of 6,844,737. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. The company's fifty day moving average is $4.78 and its 200 day moving average is $4.84. The company has a market cap of $3.99 billion, a P/E ratio of -4.03 and a beta of 0.71. Algonquin Power & Utilities Corp. has a 1 year low of $4.19 and a 1 year high of $6.79.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its quarterly earnings data on Friday, March 7th. The utilities provider reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.04). Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The company had revenue of $584.80 million for the quarter, compared to analyst estimates of $644.73 million. On average, research analysts forecast that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend is Monday, March 31st. Algonquin Power & Utilities's dividend payout ratio (DPR) is -14.44%.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.