Commonwealth Equity Services LLC Has $1.06 Million Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

Commonwealth Equity Services LLC decreased its stake in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 17.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 237,335 shares of the utilities provider's stock after selling 49,155 shares during the quarter. Commonwealth Equity Services LLC's holdings in Algonquin Power & Utilities were worth $1,056,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SVB Wealth LLC acquired a new stake in shares of Algonquin Power & Utilities in the 4th quarter valued at approximately $49,000. Capstone Investment Advisors LLC acquired a new stake in Algonquin Power & Utilities in the third quarter worth $58,000. Avantax Advisory Services Inc. bought a new position in shares of Algonquin Power & Utilities during the fourth quarter worth $58,000. Walleye Capital LLC acquired a new position in shares of Algonquin Power & Utilities in the 3rd quarter valued at $59,000. Finally, Ballentine Partners LLC bought a new stake in shares of Algonquin Power & Utilities in the 4th quarter valued at $63,000. Institutional investors own 62.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AQN shares. Royal Bank of Canada decreased their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating for the company in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. Scotiabank lifted their price target on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a "sector perform" rating in a research note on Thursday, February 13th. Finally, National Bankshares lowered their price objective on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating for the company in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $5.94.

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Algonquin Power & Utilities Stock Down 5.0 %

Algonquin Power & Utilities stock traded down $0.26 during mid-day trading on Friday, reaching $4.85. The company's stock had a trading volume of 20,289,279 shares, compared to its average volume of 6,987,118. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. The business's 50 day simple moving average is $4.84 and its 200 day simple moving average is $4.82. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of -3.76 and a beta of 0.64. Algonquin Power & Utilities Corp. has a 12 month low of $4.19 and a 12 month high of $6.79.

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 analysts' consensus estimates of $0.10 by ($0.04). The company had revenue of $584.80 million during the quarter, compared to the consensus estimate of $644.73 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. As a group, research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.26 annualized dividend and a dividend yield of 5.37%. Algonquin Power & Utilities's dividend payout ratio is presently -14.44%.

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.