Alpha Omega Wealth Management LLC Raises Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

Alpha Omega Wealth Management LLC grew its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 18.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 444,600 shares of the utilities provider's stock after acquiring an additional 69,500 shares during the period. Alpha Omega Wealth Management LLC owned about 0.06% of Algonquin Power & Utilities worth $2,285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. SVB Wealth LLC purchased a new stake in shares of Algonquin Power & Utilities in the 4th quarter worth approximately $49,000. Avantax Advisory Services Inc. bought a new position in Algonquin Power & Utilities in the 4th quarter valued at approximately $58,000. NBC Securities Inc. lifted its position 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 in the last quarter. Capstone Investment Advisors LLC lifted its position 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 in the last quarter. Finally, Quadrant Capital Group LLC lifted its position 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 in the last quarter. Hedge funds and other institutional investors own 62.28% of the company's stock.

Wall Street Analyst Weigh In

AQN has been the topic of several analyst reports. Desjardins upped their price objective on Algonquin Power & Utilities from $4.75 to $6.00 and gave the company a "hold" rating in a research report on Wednesday, June 4th. CIBC upped their price objective on Algonquin Power & Utilities from $5.75 to $6.25 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Royal Bank of Canada upped their price objective on Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. National Bankshares cut Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 price objective on the stock. in a research report on Wednesday, June 4th. Finally, Raymond James increased their price target on Algonquin Power & Utilities from $5.00 to $6.00 and gave the company a "market perform" rating in a report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $6.31.

Algonquin Power & Utilities Price Performance

AQN stock traded down $0.06 during trading on Friday, reaching $5.85. The company's stock had a trading volume of 6,728,365 shares, compared to its average volume of 8,585,770. Algonquin Power & Utilities Corp. has a 1 year low of $4.19 and a 1 year high of $6.36. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $4.49 billion, a P/E ratio of -4.53 and a beta of 0.67. The company's fifty day moving average is $5.47 and its 200-day moving average is $4.96.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.05. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The business had revenue of $692.40 million during the quarter, compared to analyst estimates of $699.08 million. During the same quarter in the prior year, the business posted $0.14 EPS. On average, research analysts expect that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.44%. Algonquin Power & Utilities's payout ratio is -16.77%.

About Algonquin Power & Utilities

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.