Allspring Global Investments Holdings LLC Takes $288,000 Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

Allspring Global Investments Holdings LLC acquired a new stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 56,000 shares of the utilities provider's stock, valued at approximately $288,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Avantax Advisory Services Inc. bought a new stake in shares of Algonquin Power & Utilities during the 4th quarter valued at $58,000. Sowell Financial Services LLC bought a new stake in shares of Algonquin Power & Utilities during the first quarter valued at approximately $59,000. NBC Securities Inc. increased its holdings in Algonquin Power & Utilities by 111,700.0% in the 1st quarter. NBC Securities Inc. now owns 12,298 shares of the utilities provider's stock valued at $63,000 after acquiring an additional 12,287 shares during the last quarter. Capstone Investment Advisors LLC increased its holdings 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. Finally, Quadrant Capital Group LLC increased its holdings in 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 acquiring an additional 5,060 shares during the last quarter. Hedge funds and other institutional investors own 62.28% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Desjardins lifted their price target on shares of Algonquin Power & Utilities from $4.75 to $6.00 and gave the company a "hold" rating in a report on Wednesday, June 4th. National Bank Financial raised shares of Algonquin Power & Utilities to a "hold" rating in a research note on Sunday, June 8th. National Bankshares cut shares of Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 price target for the company. in a research note on Wednesday, June 4th. BMO Capital Markets reaffirmed a "market perform" rating and set a $6.00 price target (up from $5.00) on shares of Algonquin Power & Utilities in a research note on Monday, May 12th. Finally, CIBC lifted their price target on shares of Algonquin Power & Utilities from $5.75 to $6.25 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. One analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company's stock. According to data from MarketBeat, Algonquin Power & Utilities presently has a consensus rating of "Hold" and a consensus target price of $6.31.

Algonquin Power & Utilities Stock Down 0.3%

NYSE:AQN traded down $0.02 during midday trading on Tuesday, reaching $5.84. 3,735,640 shares of the stock traded hands, compared to its average volume of 8,699,527. Algonquin Power & Utilities Corp. has a 12-month low of $4.19 and a 12-month high of $6.36. The business has a 50-day moving average of $5.69 and a two-hundred day moving average of $5.13. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.94 and a current ratio of 1.16. The stock has a market capitalization of $4.48 billion, a PE ratio of -3.77 and a beta of 0.69.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. The firm had revenue of $692.40 million for the quarter, compared to the consensus estimate of $699.08 million. Algonquin Power & Utilities had a negative net margin of 48.78% and a positive return on equity of 4.74%. During the same quarter in the prior year, the company posted $0.14 earnings per share. On average, equities analysts forecast that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.065 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.46%. Algonquin Power & Utilities's dividend payout ratio is currently -16.77%.

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.