Gradient Investments LLC reduced its position in Algonquin Power & Utilities Corp. (NYSE:AQN – Get Rating) by 4.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,630 shares of the utilities provider’s stock after selling 1,604 shares during the period. Gradient Investments LLC’s holdings in Algonquin Power & Utilities were worth $537,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Power Corp of Canada acquired a new stake in shares of Algonquin Power & Utilities during the 1st quarter worth $31,000. Stonehage Fleming Financial Services Holdings Ltd grew its stake in Algonquin Power & Utilities by 46.3% during the 1st quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 3,532 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 1,117 shares in the last quarter. City Holding Co. purchased a new stake in Algonquin Power & Utilities during the 4th quarter worth approximately $87,000. Van ECK Associates Corp boosted its stake in shares of Algonquin Power & Utilities by 69.2% during the 1st quarter. Van ECK Associates Corp now owns 7,056 shares of the utilities provider’s stock valued at $109,000 after buying an additional 2,885 shares during the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Algonquin Power & Utilities during the first quarter worth approximately $157,000. Institutional investors and hedge funds own 39.99% of the company’s stock.
Algonquin Power & Utilities Price Performance
Shares of AQN opened at $13.41 on Friday. Algonquin Power & Utilities Corp. has a 12 month low of $12.88 and a 12 month high of $16.01. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.77 and a quick ratio of 0.61. The stock has a fifty day moving average price of $13.87 and a 200 day moving average price of $14.33. The company has a market cap of $9.03 billion, a P/E ratio of 44.70, a PEG ratio of 2.41 and a beta of 0.46.
Algonquin Power & Utilities (NYSE:AQN – Get Rating) last released its quarterly earnings results on Thursday, August 11th. The utilities provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. The business had revenue of $624.30 million during the quarter, compared to analyst estimates of $605.79 million. Algonquin Power & Utilities had a net margin of 8.27% and a return on equity of 7.05%. During the same quarter in the prior year, the firm earned $0.15 earnings per share. On average, research analysts forecast that Algonquin Power & Utilities Corp. will post 0.74 earnings per share for the current year.
Algonquin Power & Utilities Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 29th will be given a dividend of $0.1808 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.72 annualized dividend and a dividend yield of 5.39%. Algonquin Power & Utilities’s dividend payout ratio is presently 240.00%.
Analyst Ratings Changes
Separately, Credit Suisse Group reduced their price objective on shares of Algonquin Power & Utilities to $16.00 in a research note on Friday, May 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.29.
Algonquin Power & Utilities Profile
Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada, the United States, Chile, and Bermuda. It generates and sells electrical energy through renewable and clean energy power generation facilities.
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