Triasima Portfolio Management inc. Lowers Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

Triasima Portfolio Management inc. lessened its position in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 96.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 19,700 shares of the utilities provider's stock after selling 519,000 shares during the period. Triasima Portfolio Management inc.'s holdings in Algonquin Power & Utilities were worth $87,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capstone Investment Advisors LLC purchased a new position in Algonquin Power & Utilities during the third quarter worth about $58,000. Walleye Capital LLC purchased a new position in shares of Algonquin Power & Utilities during the 3rd quarter worth approximately $59,000. Verdence Capital Advisors LLC acquired a new stake in shares of Algonquin Power & Utilities in the 3rd quarter valued at approximately $61,000. Raymond James Trust N.A. boosted its stake in shares of Algonquin Power & Utilities by 33.4% in the third quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider's stock valued at $73,000 after buying an additional 3,343 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new position in Algonquin Power & Utilities during the fourth quarter worth $63,000. Hedge funds and other institutional investors own 62.28% of the company's stock.

Algonquin Power & Utilities Price Performance

Shares of NYSE:AQN traded up $0.02 on Tuesday, hitting $4.59. The company had a trading volume of 4,955,710 shares, compared to its average volume of 8,125,919. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. The company has a market cap of $3.52 billion, a PE ratio of -3.56 and a beta of 0.69. Algonquin Power & Utilities Corp. has a 52-week low of $4.19 and a 52-week high of $6.79. The business has a 50 day moving average of $4.48 and a 200 day moving average of $4.97.

Analyst Ratings Changes

Several equities research analysts have commented on AQN shares. Wells Fargo & Company decreased their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an "equal weight" rating on the stock in a research report on Wednesday, October 16th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $7.00 price objective on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. Scotiabank dropped their target price on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a "sector perform" rating for the company in a report on Friday, November 8th. National Bankshares decreased their price target on Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating on the stock in a research note on Tuesday. Finally, CIBC dropped their price objective on Algonquin Power & Utilities from $5.75 to $5.50 and set a "neutral" rating for the company in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $6.03.

Algonquin Power & Utilities 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.