TD Waterhouse Canada Inc. Cuts Stake in Algonquin Power & Utilities Corp. (NYSE:AQN)

TD Waterhouse Canada Inc. lessened its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 31.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,149,574 shares of the utilities provider's stock after selling 534,623 shares during the period. TD Waterhouse Canada Inc. owned about 0.15% of Algonquin Power & Utilities worth $5,095,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. SVB Wealth LLC purchased a new stake in shares of Algonquin Power & Utilities during the 4th quarter worth approximately $49,000. Avantax Advisory Services Inc. purchased a new stake in Algonquin Power & Utilities in the fourth quarter worth $58,000. Ballentine Partners LLC bought a new stake in shares of Algonquin Power & Utilities in the fourth quarter valued at $63,000. Spire Wealth Management grew its stake 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 worth $76,000 after acquiring an additional 10,190 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in 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 worth $78,000 after acquiring an additional 5,060 shares during the last quarter. Institutional investors own 62.28% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AQN. National Bankshares cut their target price on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating for the company in a research report 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 report on Thursday, February 13th. Finally, Royal Bank of Canada lowered their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating on the stock in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Algonquin Power & Utilities has an average rating of "Hold" and a consensus target price of $5.94.

Algonquin Power & Utilities Price Performance

NYSE:AQN opened at $5.40 on Wednesday. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of -4.18 and a beta of 0.65. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. The stock has a fifty day moving average of $5.00 and a 200 day moving average of $4.79. Algonquin Power & Utilities Corp. has a 52-week low of $4.19 and a 52-week high of $6.79.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last issued its quarterly earnings data on Friday, March 7th. The utilities provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.04). The business had revenue of $584.80 million for the quarter, compared to analysts' expectations of $644.73 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. On average, research analysts expect that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend was Monday, March 31st. Algonquin Power & Utilities's dividend payout ratio (DPR) is currently -14.44%.

Algonquin Power & Utilities Company Profile

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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