JPMorgan Chase & Co. Sells 72,915 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

JPMorgan Chase & Co. cut its stake in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 25.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,644 shares of the utilities provider's stock after selling 72,915 shares during the period. JPMorgan Chase & Co.'s holdings in Algonquin Power & Utilities were worth $964,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AQN. Private Management Group Inc. boosted its stake in shares of Algonquin Power & Utilities by 161.2% in the 4th quarter. Private Management Group Inc. now owns 5,924,983 shares of the utilities provider's stock valued at $26,366,000 after purchasing an additional 3,656,840 shares during the last quarter. Krilogy Financial LLC lifted its holdings in Algonquin Power & Utilities by 116.7% in the fourth quarter. Krilogy Financial LLC now owns 1,621,045 shares of the utilities provider's stock valued at $7,214,000 after buying an additional 873,045 shares during the period. Vanguard Group Inc. boosted its position in Algonquin Power & Utilities by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 31,510,928 shares of the utilities provider's stock valued at $139,845,000 after acquiring an additional 544,198 shares during the last quarter. Mufg Securities Canada LTD. grew its holdings in Algonquin Power & Utilities by 72.1% during the 4th quarter. Mufg Securities Canada LTD. now owns 1,171,588 shares of the utilities provider's stock worth $5,197,000 after acquiring an additional 490,829 shares during the period. Finally, Alberta Investment Management Corp raised its position in shares of Algonquin Power & Utilities by 8.7% in the 4th quarter. Alberta Investment Management Corp now owns 5,052,789 shares of the utilities provider's stock worth $22,458,000 after acquiring an additional 402,500 shares in the last quarter. Institutional investors and hedge funds own 62.28% of the company's stock.

Algonquin Power & Utilities Stock Down 0.4 %

Shares of NYSE:AQN opened at $5.27 on Monday. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of -4.09 and a beta of 0.65. The business's 50 day moving average is $5.02 and its 200 day moving average is $4.79. Algonquin Power & Utilities Corp. has a 12-month low of $4.19 and a 12-month high of $6.79. 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 (NYSE:AQN - Get Free Report) last posted 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 positive return on equity of 5.22% and a negative net margin of 39.12%. The firm had revenue of $584.80 million for the quarter, compared to analysts' expectations of $644.73 million. On average, sell-side analysts forecast that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 4.93%. The ex-dividend date was Monday, March 31st. Algonquin Power & Utilities's dividend payout ratio is presently -14.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AQN shares. National Bankshares decreased their target price on 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 raised their price objective on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. CIBC dropped their target price on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a "neutral" rating on the stock in a research report on Thursday. Finally, Royal Bank of Canada reduced their price target on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating for the company in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $5.92.

About Algonquin Power & Utilities

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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