Northwest & Ethical Investments L.P. Boosts Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

Northwest & Ethical Investments L.P. boosted its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 6.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 50,251 shares of the utilities provider’s stock after purchasing an additional 3,096 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Algonquin Power & Utilities were worth $223,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Capstone Investment Advisors LLC purchased a new stake in shares of Algonquin Power & Utilities during the third quarter valued at $58,000. Walleye Capital LLC purchased a new stake in shares of Algonquin Power & Utilities during the 3rd quarter valued at about $59,000. SVB Wealth LLC bought a new stake in shares of Algonquin Power & Utilities in the fourth quarter worth approximately $49,000. Avantax Advisory Services Inc. purchased a new position in shares of Algonquin Power & Utilities during the fourth quarter valued at approximately $58,000. Finally, Raymond James Trust N.A. lifted its position in Algonquin Power & Utilities by 33.4% during the third quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider’s stock valued at $73,000 after purchasing an additional 3,343 shares during the period. 62.28% of the stock is currently owned by institutional investors.

Algonquin Power & Utilities Trading Down 0.3 %

Shares of AQN opened at $5.13 on Friday. Algonquin Power & Utilities Corp. has a fifty-two week low of $4.19 and a fifty-two week high of $6.79. 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 company’s fifty day moving average is $4.70 and its 200 day moving average is $4.84. The stock has a market capitalization of $3.93 billion, a PE ratio of -3.97 and a beta of 0.70.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings results on Friday, March 7th. The utilities provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.04). Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The company had revenue of $584.80 million during the quarter, compared to the consensus estimate of $644.73 million. Sell-side analysts expect that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.065 per share. The ex-dividend date is Monday, March 31st. This represents a $0.26 annualized dividend and a yield of 5.07%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is -14.44%.

Analyst Upgrades and Downgrades

AQN has been the subject of a number of research reports. Royal Bank of Canada decreased their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. National Bankshares lowered their target price on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Scotiabank boosted their price target on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $7.00 price target on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Algonquin Power & Utilities has an average rating of “Hold” and an average target price of $5.94.

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.