Maven Securities LTD Has $1.47 Million Stake in Algonquin Power & Utilities Corp. (NYSE:AQN)

Maven Securities LTD lessened its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 50.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 250,000 shares of the utilities provider's stock after selling 250,000 shares during the quarter. Maven Securities LTD's holdings in Algonquin Power & Utilities were worth $1,465,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Parallel Advisors LLC lifted its position in Algonquin Power & Utilities by 76.3% during the fourth quarter. Parallel Advisors LLC now owns 4,347 shares of the utilities provider's stock worth $27,000 after acquiring an additional 1,882 shares during the last quarter. Claro Advisors LLC acquired a new stake in Algonquin Power & Utilities during the second quarter worth approximately $61,000. SeaCrest Wealth Management LLC acquired a new stake in Algonquin Power & Utilities during the second quarter worth approximately $66,000. Larson Financial Group LLC acquired a new stake in Algonquin Power & Utilities during the first quarter worth approximately $76,000. Finally, SVB Wealth LLC acquired a new stake in Algonquin Power & Utilities during the first quarter worth approximately $82,000. Institutional investors own 62.28% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AQN shares. CIBC cut their price objective on shares of Algonquin Power & Utilities from $7.00 to $6.00 and set a "neutral" rating for the company in a research report on Monday, August 12th. Raymond James downgraded 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. Desjardins dropped their price target on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a "hold" rating for the company in a research report on Monday, August 12th. Royal Bank of Canada dropped their price target on shares of Algonquin Power & Utilities from $7.00 to $6.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company downgraded shares of Algonquin Power & Utilities from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $8.50 to $6.00 in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $6.33.

Algonquin Power & Utilities Price Performance

NYSE:AQN remained flat at $5.51 during mid-day trading on Wednesday. 4,908,579 shares of the company were exchanged, compared to its average volume of 5,670,272. The business has a 50 day simple moving average of $5.55 and a 200-day simple moving average of $5.95. The stock has a market capitalization of $4.22 billion, a PE ratio of -11.22 and a beta of 0.67. The company has a quick ratio of 0.78, a current ratio of 0.97 and a debt-to-equity ratio of 1.08. Algonquin Power & Utilities Corp. has a fifty-two week low of $4.90 and a fifty-two week high of $6.79.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its quarterly earnings data on Friday, August 9th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. The business had revenue of $598.60 million for the quarter, compared to analysts' expectations of $635.95 million. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 5.36%. The firm's quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. Equities analysts expect that Algonquin Power & Utilities Corp. will post 0.43 EPS for the current year.

Algonquin Power & Utilities Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.065 per share. The ex-dividend date is Monday, September 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.72%. Algonquin Power & Utilities's payout ratio is presently -53.06%.

About Algonquin Power & Utilities

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.