HighTower Advisors LLC Sells 128,031 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

HighTower Advisors LLC cut its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 48.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 135,917 shares of the utilities provider's stock after selling 128,031 shares during the quarter. HighTower Advisors LLC's holdings in Algonquin Power & Utilities were worth $605,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AQN. SVB Wealth LLC acquired a new position in Algonquin Power & Utilities in the fourth quarter valued at approximately $49,000. Capstone Investment Advisors LLC bought a new stake in shares of Algonquin Power & Utilities in the 3rd quarter valued at $58,000. Walleye Capital LLC acquired a new position in shares of Algonquin Power & Utilities during the 3rd quarter valued at $59,000. Ballentine Partners LLC bought a new position in Algonquin Power & Utilities during the fourth quarter worth $63,000. Finally, Spire Wealth Management grew its holdings in Algonquin Power & Utilities by 149.6% in the fourth quarter. Spire Wealth Management now owns 17,000 shares of the utilities provider's stock worth $76,000 after purchasing an additional 10,190 shares during the period. Institutional investors own 62.28% of the company's stock.

Algonquin Power & Utilities Stock Up 1.8 %

Shares of AQN traded up $0.09 during trading hours on Wednesday, reaching $5.23. 7,267,765 shares of the stock traded hands, compared to its average volume of 6,882,011. Algonquin Power & Utilities Corp. has a 52 week low of $4.19 and a 52 week high of $6.79. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. The stock has a fifty day simple moving average of $4.82 and a 200 day simple moving average of $4.83. The company has a market cap of $4.01 billion, a price-to-earnings ratio of -4.05 and a beta of 0.64.

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

Algonquin Power & Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date is Monday, March 31st. Algonquin Power & Utilities's dividend payout ratio (DPR) is currently -14.44%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Scotiabank increased their price objective on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. National Bankshares reduced their price objective on Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating for the company in a research note on Tuesday, February 11th. JPMorgan Chase & Co. restated a "neutral" rating and set a $7.00 price objective on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. Finally, Royal Bank of Canada cut their target price on 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. 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 stock. According to data from MarketBeat.com, Algonquin Power & Utilities presently has a consensus rating of "Hold" and a consensus price target of $5.94.

Algonquin Power & Utilities Company Profile

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.