Algonquin Power & Utilities Corp. $AQN Shares Sold by Anson Funds Management LP

Key Points

• Anson Funds Management LP has significantly reduced its stake in Algonquin Power & Utilities Corp. by 52.8%, now holding 637,500 shares worth approximately $3.27 million.
• Algonquin Power & Utilities reported a quarterly earnings per share (EPS) of $0.04, matching analysts' expectations, with revenue around $535.59 million.
• The company declared a quarterly dividend of $0.065 per share, yielding 4.7%, with the dividend payout ratio reported at -14.44%.

Anson Funds Management LP reduced its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 52.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 637,500 shares of the utilities provider's stock after selling 712,500 shares during the period. Anson Funds Management LP owned 0.08% of Algonquin Power & Utilities worth $3,277,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of AQN. Northern Trust Corp raised its position in shares of Algonquin Power & Utilities by 14.8% during the 4th quarter. Northern Trust Corp now owns 257,472 shares of the utilities provider's stock worth $1,146,000 after purchasing an additional 33,139 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Algonquin Power & Utilities by 25.9% during the 4th quarter. Cubist Systematic Strategies LLC now owns 226,491 shares of the utilities provider's stock worth $1,005,000 after purchasing an additional 46,592 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of Algonquin Power & Utilities by 5,441.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 991,843 shares of the utilities provider's stock worth $4,407,000 after purchasing an additional 973,943 shares during the last quarter. Deutsche Bank AG raised its position in shares of Algonquin Power & Utilities by 50.9% during the 4th quarter. Deutsche Bank AG now owns 65,597 shares of the utilities provider's stock worth $292,000 after purchasing an additional 22,135 shares during the last quarter. Finally, Maven Securities LTD acquired a new position in shares of Algonquin Power & Utilities during the 4th quarter worth approximately $445,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities Stock Down 0.4%

Shares of NYSE AQN opened at $5.59 on Thursday. Algonquin Power & Utilities Corp. has a 52-week low of $4.19 and a 52-week high of $6.24. The firm has a fifty day moving average of $5.83 and a 200-day moving average of $5.51. The stock has a market capitalization of $4.29 billion, a PE ratio of -3.10 and a beta of 0.69. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 1.22.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The utilities provider reported $0.04 earnings per share for the quarter, meeting analysts' consensus estimates of $0.04. The firm had revenue of $535.59 million for the quarter, compared to analysts' expectations of $535.64 million. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. During the same period in the previous year, the company posted $0.09 earnings per share. On average, analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Monday, September 29th. Algonquin Power & Utilities's payout ratio is -14.44%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Scotiabank raised their target price on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Desjardins raised their target price on shares of Algonquin Power & Utilities from $4.75 to $6.00 and gave the stock a "hold" rating in a research report on Wednesday, June 4th. National Bank Financial upgraded shares of Algonquin Power & Utilities to a "hold" rating in a research report on Sunday, June 8th. Royal Bank Of Canada raised their target price on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Finally, National Bankshares lowered shares of Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 target price on the stock. in a research report on Wednesday, June 4th. Eleven equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $6.34.

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.

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