Bank of Montreal Can boosted its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 0.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,000,723 shares of the utilities provider's stock after buying an additional 117,757 shares during the period. Bank of Montreal Can owned approximately 2.74% of Algonquin Power & Utilities worth $93,090,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. SVB Wealth LLC bought a new position in shares of Algonquin Power & Utilities in the 4th quarter worth $49,000. Avantax Advisory Services Inc. purchased a new position in shares of Algonquin Power & Utilities during the 4th quarter valued at about $58,000. Walleye Capital LLC acquired a new position in Algonquin Power & Utilities in the third quarter valued at approximately $59,000. Ballentine Partners LLC acquired a new position in shares of Algonquin Power & Utilities in the 4th quarter valued at $63,000. Finally, Spire Wealth Management boosted its stake in shares of Algonquin Power & Utilities by 149.6% during the 4th quarter. Spire Wealth Management now owns 17,000 shares of the utilities provider's stock worth $76,000 after acquiring an additional 10,190 shares in the last quarter. Hedge funds and other institutional investors own 62.28% of the company's stock.
Algonquin Power & Utilities Stock Up 2.8 %
Shares of NYSE:AQN traded up $0.14 during trading hours on Monday, reaching $5.18. The stock had a trading volume of 4,668,418 shares, compared to its average volume of 7,234,108. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of -4.02 and a beta of 0.65. The firm's 50 day moving average is $4.90 and its 200-day moving average is $4.79. Algonquin Power & Utilities Corp. has a 1 year low of $4.19 and a 1 year high of $6.79. 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 (NYSE:AQN - Get Free Report) last posted its 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). 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 during the quarter, compared to analysts' expectations of $644.73 million. Research analysts predict that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.
Algonquin Power & Utilities Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.065 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.26 dividend on an annualized basis and a yield of 5.02%. Algonquin Power & Utilities's dividend payout ratio (DPR) is -14.44%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on AQN shares. National Bankshares cut their target price on shares of 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. Scotiabank lifted their target price 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. Finally, Royal Bank of Canada lowered their price objective on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating for the company in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $5.94.
View Our Latest 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.
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