Alpha Omega Wealth Management LLC Sells 207,440 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Alpha Omega Wealth Management LLC reduced its stake in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 35.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 375,100 shares of the utilities provider's stock after selling 207,440 shares during the quarter. Alpha Omega Wealth Management LLC's holdings in Algonquin Power & Utilities were worth $1,669,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Algonquin Power & Utilities by 45.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,959,770 shares of the utilities provider's stock valued at $70,806,000 after buying an additional 4,054,711 shares during the last quarter. Private Management Group Inc. acquired a new stake in shares of Algonquin Power & Utilities during the third quarter valued at $12,361,000. Yaupon Capital Management LP purchased a new stake in Algonquin Power & Utilities in the 3rd quarter worth approximately $11,997,000. Foundry Partners LLC purchased a new position in Algonquin Power & Utilities during the third quarter worth about $7,173,000. Finally, Bank of Montreal Can raised its stake in Algonquin Power & Utilities by 6.0% during the third quarter. Bank of Montreal Can now owns 20,882,966 shares of the utilities provider's stock worth $115,175,000 after purchasing an additional 1,190,236 shares during the period. Hedge funds and other institutional investors own 62.28% of the company's stock.

Algonquin Power & Utilities Trading Up 1.7 %

NYSE:AQN traded up $0.08 during trading hours on Wednesday, hitting $4.57. 6,246,059 shares of the company were exchanged, compared to its average volume of 8,345,898. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of -3.54 and a beta of 0.69. 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 company has a fifty day simple moving average of $4.51 and a 200 day simple moving average of $5.02. Algonquin Power & Utilities Corp. has a one year low of $4.19 and a one year high of $6.79.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its earnings results on Thursday, November 7th. The utilities provider reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The firm had revenue of $573.20 million for the quarter, compared to the consensus estimate of $620.46 million. During the same period in the prior year, the business earned $0.11 EPS. Algonquin Power & Utilities's quarterly revenue was up 1.5% compared to the same quarter last year. Sell-side analysts expect 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 was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 5.70%. The ex-dividend date was Tuesday, December 31st. Algonquin Power & Utilities's dividend payout ratio (DPR) is currently -20.15%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AQN shares. Royal Bank of Canada restated a "sector perform" rating and set a $6.00 target price on shares of Algonquin Power & Utilities in a report on Friday, October 11th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. CIBC cut their target price on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a "neutral" rating for the company in a research note on Tuesday, October 22nd. Wells Fargo & Company lowered their price target on Algonquin Power & Utilities from $6.00 to $5.50 and set an "equal weight" rating on the stock in a report on Wednesday, October 16th. Finally, Scotiabank reduced their price objective on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a "sector perform" rating for the company in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $6.13.

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.