Algonquin Power & Utilities Corp. (NYSE:AQN) Shares Bought by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC grew its position in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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.

Other large investors have also recently added to or reduced their stakes in the company. SVB Wealth LLC purchased a new position in Algonquin Power & Utilities during the fourth quarter worth $49,000. Avantax Advisory Services Inc. purchased a new stake in shares of Algonquin Power & Utilities during the fourth quarter worth about $58,000. NBC Securities Inc. raised its position in shares of Algonquin Power & Utilities by 111,700.0% in the first quarter. NBC Securities Inc. now owns 12,298 shares of the utilities provider's stock valued at $63,000 after buying an additional 12,287 shares during the last quarter. Capstone Investment Advisors LLC raised its position in shares of Algonquin Power & Utilities by 59.6% in the fourth quarter. Capstone Investment Advisors LLC now owns 17,060 shares of the utilities provider's stock valued at $76,000 after buying an additional 6,370 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of Algonquin Power & Utilities by 40.5% during the fourth quarter. Quadrant Capital Group LLC now owns 17,555 shares of the utilities provider's stock valued at $78,000 after buying an additional 5,060 shares during the period. 62.28% of the stock is owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Stock Up 0.7%

Shares of NYSE:AQN traded up $0.04 during trading on Thursday, hitting $5.92. The company's stock had a trading volume of 3,138,107 shares, compared to its average volume of 8,592,460. The company has a market capitalization of $4.55 billion, a PE ratio of -4.59 and a beta of 0.67. Algonquin Power & Utilities Corp. has a fifty-two week low of $4.19 and a fifty-two week high of $6.36. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. The stock's 50-day moving average price is $5.42 and its two-hundred day moving average price is $4.95.

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 for the quarter, beating 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 the consensus estimate of $699.08 million. During the same period in the previous year, the business earned $0.14 EPS. As a group, sell-side analysts expect that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current year.

Algonquin Power & Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.065 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.26 dividend on an annualized basis and a yield of 4.39%. Algonquin Power & Utilities's payout ratio is currently -16.77%.

Analysts Set New Price Targets

Several analysts have commented on the stock. CIBC lifted their target price 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. National Bankshares cut Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 target price for the company. in a report on Wednesday, June 4th. Royal Bank of Canada increased 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. Scotiabank lifted their price target on shares of 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. Finally, TD Securities boosted their price objective on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a "hold" rating in a research note 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 stock presently has an average rating of "Hold" and a consensus price target of $6.31.

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.