Scotia Capital Inc. decreased its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 20.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,927,107 shares of the utilities provider's stock after selling 486,850 shares during the period. Scotia Capital Inc. owned approximately 0.25% of Algonquin Power & Utilities worth $8,552,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. SVB Wealth LLC purchased a new stake in Algonquin Power & Utilities during the 4th quarter valued at about $49,000. Avantax Advisory Services Inc. acquired a new stake in shares of Algonquin Power & Utilities in the fourth quarter worth $58,000. Walleye Capital LLC acquired a new position in Algonquin Power & Utilities during the third quarter valued at $59,000. Ballentine Partners LLC purchased a new position in shares of Algonquin Power & Utilities during the 4th quarter valued at about $63,000. Finally, Spire Wealth Management boosted its stake in shares of 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 buying an additional 10,190 shares during the last quarter. Institutional investors and hedge funds own 62.28% of the company's stock.
Algonquin Power & Utilities Price Performance
Shares of NYSE AQN traded down $0.03 during mid-day trading on Tuesday, reaching $5.18. The company's stock had a trading volume of 10,134,305 shares, compared to its average volume of 7,292,497. The stock has a market capitalization of $3.97 billion, a P/E ratio of -4.01 and a beta of 0.65. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. Algonquin Power & Utilities Corp. has a 1-year low of $4.19 and a 1-year high of $6.79. The stock has a 50-day moving average of $4.91 and a two-hundred day moving average of $4.79.
Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its quarterly earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.04). The firm had revenue of $584.80 million during the quarter, compared to analysts' expectations of $644.73 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. On average, equities research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.
Algonquin Power & Utilities Announces Dividend
The business 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 $0.065 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.26 annualized dividend and a dividend yield of 5.02%. Algonquin Power & Utilities's dividend payout ratio is currently -14.44%.
Analysts Set New Price Targets
Several brokerages recently weighed in on AQN. Scotiabank lifted their price target on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a "sector perform" rating in a research report on Thursday, February 13th. Royal Bank of Canada cut their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating for the company in a report on Tuesday, February 18th. Finally, National Bankshares lowered 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 report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, eight have given 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, the stock currently has an average rating of "Hold" and a consensus target price of $5.94.
View Our Latest Stock Analysis on AQN
About Algonquin Power & Utilities
(
Free Report)
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.
Recommended Stories
Before you consider Algonquin Power & Utilities, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Algonquin Power & Utilities wasn't on the list.
While Algonquin Power & Utilities currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
