Algonquin Power & Utilities Corp. (NYSE:AQN) Short Interest Up 36.6% in March

Algonquin Power & Utilities Corp. (NYSE:AQN) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 25,030,000 shares, an increase of 36.6% from the February 28th total of 18,330,000 shares. Based on an average trading volume of 9,630,000 shares, the short-interest ratio is presently 2.6 days. Currently, 3.3% of the shares of the company are short sold.

Algonquin Power & Utilities Stock Up 0.1 %

NYSE AQN opened at $5.15 on Wednesday. The stock has a 50 day moving average price of $4.81 and a 200-day moving average price of $4.83. Algonquin Power & Utilities has a one year low of $4.19 and a one year 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 has a market capitalization of $3.95 billion, a P/E ratio of -3.99 and a beta of 0.71.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings data on Friday, March 7th. The utilities provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). The business had revenue of $584.80 million during 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%. As a group, equities analysts predict that Algonquin Power & Utilities will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend is Monday, March 31st. Algonquin Power & Utilities’s payout ratio is -14.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank of Canada dropped their price target on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $7.00 price target on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. Scotiabank boosted their price objective on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Finally, National Bankshares cut their target price on 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Algonquin Power & Utilities presently has an average rating of “Hold” and an average price target of $5.94.

Hedge Funds Weigh In On Algonquin Power & Utilities

Large investors have recently modified their holdings of the stock. Northwest & Ethical Investments L.P. raised its position in Algonquin Power & Utilities by 6.6% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 50,251 shares of the utilities provider’s stock worth $223,000 after purchasing an additional 3,096 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Algonquin Power & Utilities by 0.4% in the fourth quarter. CIBC Asset Management Inc now owns 935,130 shares of the utilities provider’s stock worth $4,141,000 after buying an additional 3,656 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Algonquin Power & Utilities by 40.5% during 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. Redwood Investment Management LLC boosted its holdings in Algonquin Power & Utilities by 1.2% during the 3rd quarter. Redwood Investment Management LLC now owns 505,299 shares of the utilities provider’s stock valued at $2,794,000 after acquiring an additional 6,176 shares during the period. Finally, Capstone Investment Advisors LLC grew its position in Algonquin Power & Utilities by 59.6% in the 4th quarter. Capstone Investment Advisors LLC now owns 17,060 shares of the utilities provider’s stock valued at $76,000 after acquiring an additional 6,370 shares during the last quarter. Institutional investors own 62.28% of the company’s stock.

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.