Wells Fargo & Company MN decreased its holdings in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 43.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 122,701 shares of the utilities provider's stock after selling 93,654 shares during the period. Wells Fargo & Company MN's holdings in Algonquin Power & Utilities were worth $544,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. SVB Wealth LLC acquired a new stake in Algonquin Power & Utilities in the fourth quarter valued at approximately $49,000. Avantax Advisory Services Inc. purchased a new position in shares of Algonquin Power & Utilities in the fourth quarter valued at $58,000. Ballentine Partners LLC acquired a new stake in Algonquin Power & Utilities during the 4th quarter valued at $63,000. Spire Wealth Management increased its stake in 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 buying an additional 10,190 shares during the period. Finally, Duncan Williams Asset Management LLC acquired a new position in Algonquin Power & Utilities in the 4th quarter worth $88,000. 62.28% of the stock is owned by institutional investors and hedge funds.
Algonquin Power & Utilities Stock Performance
Shares of Algonquin Power & Utilities stock traded down $0.02 during trading hours on Thursday, reaching $5.44. The company's stock had a trading volume of 1,847,932 shares, compared to its average volume of 10,810,279. Algonquin Power & Utilities Corp. has a one year low of $4.19 and a one year high of $6.77. The company's 50 day simple moving average is $5.10 and its 200 day simple moving average is $4.81. 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 market cap of $4.18 billion, a P/E ratio of -4.22 and a beta of 0.67.
Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last issued its earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share (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 the consensus estimate 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, analysts expect that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.
Algonquin Power & Utilities Dividend Announcement
The company also recently declared 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. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.26 annualized dividend and a dividend yield of 4.78%. Algonquin Power & Utilities's dividend payout ratio is currently -14.44%.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. Royal Bank of Canada lowered their target price on 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 price objective on Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating for the company in a research note on Tuesday, February 11th. CIBC cut their target price on Algonquin Power & Utilities from $5.50 to $5.25 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Finally, Scotiabank raised their price target on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $5.92.
Get Our Latest Analysis on AQN
About Algonquin Power & Utilities
(
Free Report)
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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