Legal & General Group Plc cut its stake in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 17.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,678,939 shares of the utilities provider's stock after selling 1,635,390 shares during the quarter. Legal & General Group Plc owned approximately 1.00% of Algonquin Power & Utilities worth $34,065,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the stock. SVB Wealth LLC acquired a new position in shares of Algonquin Power & Utilities in the 4th quarter valued at $49,000. Avantax Advisory Services Inc. acquired a new position in shares of Algonquin Power & Utilities in the fourth quarter worth about $58,000. Ballentine Partners LLC purchased a new stake in shares of Algonquin Power & Utilities during the 4th quarter worth about $63,000. Spire Wealth Management grew its position in shares of Algonquin Power & Utilities by 149.6% during the 4th quarter. Spire Wealth Management now owns 17,000 shares of the utilities provider's stock valued at $76,000 after acquiring an additional 10,190 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in shares of Algonquin Power & Utilities by 40.5% in the 4th quarter. Quadrant Capital Group LLC now owns 17,555 shares of the utilities provider's stock valued at $78,000 after purchasing an additional 5,060 shares in the last quarter. Hedge funds and other institutional investors own 62.28% of the company's stock.
Algonquin Power & Utilities Price Performance
Shares of Algonquin Power & Utilities stock traded down $0.03 during trading hours on Tuesday, reaching $5.18. 10,383,622 shares of the company's stock were exchanged, compared to its average volume of 7,298,382. The business has a fifty day moving average of $4.92 and a two-hundred day moving average of $4.79. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $3.97 billion, a P/E ratio of -4.01 and a beta of 0.65. Algonquin Power & Utilities Corp. has a 1 year low of $4.19 and a 1 year high of $6.79.
Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its quarterly earnings data on Friday, March 7th. The utilities provider reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.04). The business had revenue of $584.80 million during the quarter, compared to analyst estimates 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 predict that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.
Algonquin Power & Utilities Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.26 dividend on an annualized basis and a yield of 5.02%. Algonquin Power & Utilities's payout ratio is -14.44%.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on AQN shares. National Bankshares lowered their price target on Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. Royal Bank of Canada decreased their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating on the stock in a research report on Tuesday, February 18th. Finally, Scotiabank boosted their price target on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Algonquin Power & Utilities currently has a consensus rating of "Hold" and a consensus target price of $5.94.
View Our Latest Analysis on AQN
About Algonquin Power & Utilities
(
Free Report)
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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