John G Ullman & Associates Inc. grew its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 225.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 238,229 shares of the utilities provider's stock after acquiring an additional 164,929 shares during the quarter. John G Ullman & Associates Inc.'s holdings in Algonquin Power & Utilities were worth $1,298,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Central Pacific Bank Trust Division bought a new stake in Algonquin Power & Utilities in the 3rd quarter worth approximately $54,000. Claro Advisors LLC bought a new position in shares of Algonquin Power & Utilities during the 2nd quarter valued at $61,000. Verdence Capital Advisors LLC purchased a new position in Algonquin Power & Utilities in the 3rd quarter worth $61,000. SeaCrest Wealth Management LLC bought a new stake in Algonquin Power & Utilities in the second quarter worth $66,000. Finally, SVB Wealth LLC purchased a new stake in Algonquin Power & Utilities during the first quarter valued at about $82,000. Institutional investors own 62.28% of the company's stock.
Algonquin Power & Utilities Stock Up 1.3 %
Shares of AQN stock traded up $0.06 during mid-day trading on Thursday, reaching $4.77. 6,157,784 shares of the company's stock traded hands, compared to its average volume of 5,617,500. The company's 50-day moving average price is $5.11 and its 200-day moving average price is $5.66. The company has a market cap of $3.66 billion, a P/E ratio of -3.70 and a beta of 0.68. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. Algonquin Power & Utilities Corp. has a 12 month low of $4.67 and a 12 month high of $6.79.
Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The business 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 posted $0.11 EPS. Algonquin Power & Utilities's revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities analysts expect that Algonquin Power & Utilities Corp. will post 0.4 earnings per share for the current fiscal year.
Algonquin Power & Utilities Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 5.45%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities's dividend payout ratio (DPR) is -20.15%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. CIBC lowered their target price 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. Scotiabank dropped their price objective on 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. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $6.00 target price on shares of Algonquin Power & Utilities in a research note on Friday, October 11th. Raymond James cut shares of Algonquin Power & Utilities from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $7.75 to $7.00 in a research report on Monday, August 12th. Finally, 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 for the company in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $6.18.
Read Our Latest Stock Analysis on AQN
About Algonquin Power & Utilities
(
Free Report)
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.
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