Callodine Capital Management LP Acquires 600,000 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Callodine Capital Management LP grew its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 30.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,600,000 shares of the utilities provider's stock after buying an additional 600,000 shares during the period. Algonquin Power & Utilities accounts for approximately 2.4% of Callodine Capital Management LP's portfolio, making the stock its 14th largest holding. Callodine Capital Management LP owned approximately 0.34% of Algonquin Power & Utilities worth $11,570,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest & Ethical Investments L.P. increased its holdings in Algonquin Power & Utilities by 6.6% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 50,251 shares of the utilities provider's stock worth $223,000 after acquiring an additional 3,096 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Algonquin Power & Utilities by 0.4% in the fourth quarter. CIBC Asset Management Inc now owns 935,130 shares of the utilities provider's stock worth $4,141,000 after purchasing an additional 3,656 shares during the period. Quadrant Capital Group LLC raised its position in shares of Algonquin Power & Utilities by 40.5% in the fourth quarter. Quadrant Capital Group LLC now owns 17,555 shares of the utilities provider's stock worth $78,000 after buying an additional 5,060 shares in the last quarter. Signaturefd LLC boosted its stake in Algonquin Power & Utilities by 18.5% during the fourth quarter. Signaturefd LLC now owns 42,383 shares of the utilities provider's stock valued at $189,000 after buying an additional 6,602 shares during the period. Finally, Van ECK Associates Corp grew its position in Algonquin Power & Utilities by 4.1% during the fourth quarter. Van ECK Associates Corp now owns 221,307 shares of the utilities provider's stock worth $982,000 after buying an additional 8,620 shares in the last quarter. 62.28% of the stock is owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Trading Down 2.0 %

Shares of AQN stock traded down $0.11 on Wednesday, hitting $5.28. 5,311,508 shares of the company's stock traded hands, compared to its average volume of 7,412,860. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of -4.09 and a beta of 0.65. The company's fifty day simple moving average is $5.00 and its 200 day simple moving average is $4.79. Algonquin Power & Utilities Corp. has a one year low of $4.19 and a one 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 announced its quarterly earnings data on Friday, March 7th. The utilities provider reported $0.06 earnings per share (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 the consensus estimate of $644.73 million. 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 disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.065 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.26 annualized dividend and a yield of 4.92%. Algonquin Power & Utilities's payout ratio is currently -14.44%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. 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 dropped 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 research report on Tuesday, February 18th. Finally, National Bankshares decreased 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 investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $5.94.

Algonquin Power & Utilities 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.