Algonquin Power & Utilities Corp. $AQN Shares Sold by Federation des caisses Desjardins du Quebec

Key Points

• The Federation des caisses Desjardins du Quebec reduced its stake in Algonquin Power & Utilities by 14.3%, selling 1,152,598 shares, and now owns 6,900,030 shares valued at approximately $35.4 million.
• Algonquin Power & Utilities recently announced a quarterly dividend of $0.065 per share, representing an annualized yield of 4.5%, with the payment date set for October 15th.
• The company's latest earnings report showed earnings per share of $0.04, meeting analyst expectations, with a significant negative net margin of 57.66%.

Federation des caisses Desjardins du Quebec trimmed its stake in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 14.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,900,030 shares of the utilities provider's stock after selling 1,152,598 shares during the period. Federation des caisses Desjardins du Quebec owned 0.90% of Algonquin Power & Utilities worth $35,402,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. US Bancorp DE increased its stake in Algonquin Power & Utilities by 85.7% during the 1st quarter. US Bancorp DE now owns 4,887 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 2,256 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Algonquin Power & Utilities in the first quarter worth approximately $31,000. Atria Wealth Solutions Inc. purchased a new position in shares of Algonquin Power & Utilities in the first quarter worth approximately $51,000. Sowell Financial Services LLC purchased a new position in Algonquin Power & Utilities during the first quarter valued at approximately $59,000. Finally, NBC Securities Inc. lifted its holdings in Algonquin Power & Utilities by 111,700.0% during the first quarter. NBC Securities Inc. now owns 12,298 shares of the utilities provider's stock valued at $63,000 after purchasing an additional 12,287 shares in the last quarter. 62.28% of the stock is currently owned by institutional investors.

Algonquin Power & Utilities Stock Up 0.8%

Shares of AQN stock traded up $0.05 during mid-day trading on Friday, hitting $5.69. 3,675,004 shares of the stock traded hands, compared to its average volume of 4,571,837. The stock has a market cap of $4.37 billion, a P/E ratio of -3.16 and a beta of 0.69. The stock's fifty day moving average is $5.84 and its two-hundred day moving average is $5.50. Algonquin Power & Utilities Corp. has a 52-week low of $4.19 and a 52-week high of $6.24. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.09 and a quick ratio of 0.86.

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

Algonquin Power & Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.065 per share. The ex-dividend date is Monday, September 29th. This represents a $0.26 annualized dividend and a dividend yield of 4.6%. Algonquin Power & Utilities's dividend payout ratio is -14.44%.

Analysts Set New Price Targets

AQN has been the topic of several research analyst reports. Scotiabank boosted 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 report on Wednesday, June 4th. TD Securities upgraded shares of Algonquin Power & Utilities to a "hold" rating in a research report on Monday, August 11th. BMO Capital Markets reissued a "market perform" rating and set a $6.00 target price (up from $5.00) on shares of Algonquin Power & Utilities in a research note on Monday, May 12th. Royal Bank Of Canada boosted their target price on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen lowered shares of Algonquin Power & Utilities from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Eleven investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $6.34.

Algonquin Power & Utilities 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.