CWA Asset Management Group LLC Acquires New Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

CWA Asset Management Group LLC bought a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 203,480 shares of the utilities provider's stock, valued at approximately $905,000.

Other hedge funds have also added to or reduced their stakes in the company. Private Advisor Group LLC grew its stake in shares of Algonquin Power & Utilities by 14.1% in the 3rd quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider's stock valued at $97,000 after buying an additional 2,201 shares during the period. Raymond James Trust N.A. grew its stake in Algonquin Power & Utilities by 33.4% in the third quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider's stock valued at $73,000 after acquiring an additional 3,343 shares during the period. Northwest & Ethical Investments L.P. increased its holdings in shares of Algonquin Power & Utilities by 12.3% during the third quarter. Northwest & Ethical Investments L.P. now owns 47,155 shares of the utilities provider's stock valued at $258,000 after acquiring an additional 5,158 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Algonquin Power & Utilities by 25.7% during the second quarter. EverSource Wealth Advisors LLC now owns 28,704 shares of the utilities provider's stock worth $179,000 after purchasing an additional 5,863 shares during the period. Finally, Redwood Investment Management LLC lifted its holdings in shares of Algonquin Power & Utilities by 1.2% in the 3rd quarter. Redwood Investment Management LLC now owns 505,299 shares of the utilities provider's stock worth $2,794,000 after purchasing an additional 6,176 shares in the last quarter. 62.28% of the stock is currently owned by institutional investors.

Algonquin Power & Utilities Stock Performance

NYSE:AQN traded up $0.02 during trading on Wednesday, reaching $4.47. The company's stock had a trading volume of 10,149,970 shares, compared to its average volume of 7,831,790. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of -3.47 and a beta of 0.69. Algonquin Power & Utilities Corp. has a 12 month low of $4.25 and a 12 month 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. The firm has a 50 day moving average of $4.67 and a 200-day moving average of $5.25.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). The company had revenue of $573.20 million for the quarter, compared to analysts' expectations of $620.46 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The business's quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.11 EPS. Research analysts expect that Algonquin Power & Utilities Corp. will post 0.39 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.26 annualized dividend and a yield of 5.82%. Algonquin Power & Utilities's payout ratio is -20.16%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AQN shares. Wells Fargo & Company lowered their price objective on shares of 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. Scotiabank lowered their target price on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a "sector perform" rating on the stock in a report on Friday, November 8th. Royal Bank of Canada reiterated a "sector perform" rating and set a $6.00 price target on shares of Algonquin Power & Utilities in a research note on Friday, October 11th. CIBC lowered their price objective on 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. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Algonquin Power & Utilities currently has a consensus rating of "Hold" and a consensus price target of $6.25.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.