CANADA LIFE ASSURANCE Co trimmed its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 69.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,868 shares of the utilities provider's stock after selling 241,088 shares during the quarter. CANADA LIFE ASSURANCE Co's holdings in Algonquin Power & Utilities were worth $469,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. SVB Wealth LLC purchased a new position in Algonquin Power & Utilities in the fourth quarter valued at $49,000. Avantax Advisory Services Inc. acquired a new position in shares of Algonquin Power & Utilities during the fourth quarter worth about $58,000. Ballentine Partners LLC acquired a new stake in Algonquin Power & Utilities in the fourth quarter valued at approximately $63,000. Spire Wealth Management lifted its stake in Algonquin Power & Utilities by 149.6% in the fourth quarter. Spire Wealth Management now owns 17,000 shares of the utilities provider's stock worth $76,000 after acquiring an additional 10,190 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of Algonquin Power & Utilities by 40.5% in the 4th quarter. Quadrant Capital Group LLC now owns 17,555 shares of the utilities provider's stock valued at $78,000 after purchasing an additional 5,060 shares during the last quarter. 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 $0.01 on Monday, hitting $5.39. The stock had a trading volume of 1,872,370 shares, compared to its average volume of 7,539,482. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of -4.18 and a beta of 0.67. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. Algonquin Power & Utilities Corp. has a 52-week low of $4.19 and a 52-week high of $6.79. The company's 50 day moving average price is $5.06 and its 200 day moving average price is $4.80.
Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last issued its quarterly earnings data on Friday, March 7th. The utilities provider reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.04). The firm had revenue of $584.80 million during the quarter, compared to analysts' expectations of $644.73 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. On average, research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current year.
Algonquin Power & Utilities Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date of this dividend was Monday, March 31st. Algonquin Power & Utilities's dividend payout ratio is currently -14.44%.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on AQN shares. National Bankshares decreased their price objective on shares of 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. CIBC decreased their price target on Algonquin Power & Utilities from $5.50 to $5.25 and set a "neutral" rating for the company in a report on Thursday, April 24th. Scotiabank upped their price objective on 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. Finally, Royal Bank of Canada cut their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating on the stock in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $5.92.
Read Our Latest Report 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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