Algonquin Power & Utilities Corp. (NYSE:AQN) Short Interest Update

Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 15,270,000 shares, a growth of 10.7% from the November 30th total of 13,790,000 shares. Currently, 2.0% of the shares of the stock are short sold. Based on an average trading volume of 5,210,000 shares, the short-interest ratio is presently 2.9 days.

Hedge Funds Weigh In On Algonquin Power & Utilities

A number of large investors have recently modified their holdings of the company. Central Pacific Bank Trust Division purchased a new stake in Algonquin Power & Utilities in the 3rd quarter worth approximately $54,000. Capstone Investment Advisors LLC bought a new position in shares of Algonquin Power & Utilities in the third quarter worth $58,000. Walleye Capital LLC purchased a new stake in shares of Algonquin Power & Utilities in the third quarter worth $59,000. Claro Advisors LLC bought a new stake in Algonquin Power & Utilities during the second quarter valued at $61,000. Finally, Verdence Capital Advisors LLC purchased a new position in Algonquin Power & Utilities during the third quarter worth about $61,000. 62.28% of the stock is currently owned by institutional investors.

Algonquin Power & Utilities Stock Performance

Shares of NYSE AQN traded down $0.03 during trading on Wednesday, reaching $4.45. 6,097,907 shares of the stock traded hands, compared to its average volume of 5,568,631. The company has a 50-day moving average of $4.70 and a 200-day moving average of $5.29. Algonquin Power & Utilities has a 52-week low of $4.25 and a 52-week high of $6.79. The stock has a market capitalization of $3.41 billion, a P/E ratio of -3.45 and a beta of 0.68. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last issued 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). The business had revenue of $573.20 million for the quarter, compared to the consensus estimate of $620.46 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. Algonquin Power & Utilities's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 EPS. Analysts forecast that Algonquin Power & Utilities will post 0.39 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.065 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.26 dividend on an annualized basis and a yield of 5.84%. Algonquin Power & Utilities's dividend payout ratio (DPR) is -20.16%.

Analysts Set New Price Targets

A number of brokerages have recently commented on AQN. Wells Fargo & Company cut their price target on Algonquin Power & Utilities from $6.00 to $5.50 and set an "equal weight" rating on the stock in a research note on Wednesday, October 16th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $7.00 price target on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $6.00 price objective on shares of Algonquin Power & Utilities in a research note on Friday, October 11th. CIBC dropped their price objective on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a "neutral" rating on the stock in a report on Tuesday, October 22nd. Finally, Janney Montgomery Scott initiated coverage on Algonquin Power & Utilities in a research note on Thursday, September 5th. They issued a "neutral" rating and a $6.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price 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.