Anson Funds Management LP Has $3.28 Million Stake in Algonquin Power & Utilities Corp. $AQN

Key Points

• Anson Funds Management LP reduced its stake in Algonquin Power & Utilities Corp. by 52.8%, owning 637,500 shares worth approximately $3.28 million after selling 712,500 shares.
• Algonquin Power & Utilities announced a quarterly dividend of $0.065, representing an annualized dividend yield of 4.5%, with an ex-dividend date set for September 29th.
• Analysts have a consensus rating of "Hold" for Algonquin Power & Utilities, with an average price target of $6.31, indicating potential growth opportunities in the near future.

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. The firm owned 637,500 shares of the utilities provider's stock after selling 712,500 shares during the quarter. Anson Funds Management LP owned about 0.08% of Algonquin Power & Utilities worth $3,277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Algonquin Power & Utilities by 16.3% during the 1st quarter. Bank of New York Mellon Corp now owns 14,809 shares of the utilities provider's stock worth $76,000 after acquiring an additional 2,073 shares during the last quarter. US Bancorp DE raised its holdings in Algonquin Power & Utilities by 85.7% in the first quarter. US Bancorp DE now owns 4,887 shares of the utilities provider's stock worth $25,000 after purchasing an additional 2,256 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of Algonquin Power & Utilities by 5.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 114,834 shares of the utilities provider's stock worth $583,000 after purchasing an additional 5,693 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Algonquin Power & Utilities during the first quarter worth $31,000. Finally, Signaturefd LLC grew its holdings in shares of Algonquin Power & Utilities by 14.6% in the 1st quarter. Signaturefd LLC now owns 48,586 shares of the utilities provider's stock valued at $250,000 after buying an additional 6,203 shares during the period. 62.28% of the stock is owned by institutional investors.

Algonquin Power & Utilities Trading Up 0.3%

NYSE:AQN opened at $5.8150 on Friday. The company has a market cap of $4.47 billion, a P/E ratio of -3.23 and a beta of 0.67. Algonquin Power & Utilities Corp. has a twelve month low of $4.19 and a twelve month high of $6.24. The business has a 50 day moving average price of $5.84 and a two-hundred day moving average price of $5.43. 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 data on Friday, August 8th. The utilities provider reported $0.04 EPS for the quarter, hitting analysts' consensus estimates of $0.04. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. The business had revenue of $535.59 million for the quarter, compared to analyst estimates of $535.64 million. During the same quarter in the previous year, the firm posted $0.09 earnings per share. As a group, analysts expect that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal 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 $0.065 dividend. The ex-dividend date is Monday, September 29th. This represents a $0.26 annualized dividend and a dividend yield of 4.5%. Algonquin Power & Utilities's dividend payout ratio (DPR) is presently -14.44%.

Wall Street Analysts Forecast Growth

AQN has been the topic of several research analyst reports. Raymond James Financial raised their price objective on Algonquin Power & Utilities from $5.00 to $6.00 and gave the stock a "market perform" rating in a research note on Wednesday, June 4th. TD Securities upgraded Algonquin Power & Utilities to a "hold" rating in a report on Monday, August 11th. National Bankshares lowered Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 price objective for the company. in a research report on Wednesday, June 4th. CIBC raised their target price on shares of Algonquin Power & Utilities from $5.75 to $6.25 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Finally, Royal Bank Of Canada 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 note on Wednesday, June 4th. Twelve equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Algonquin Power & Utilities presently has a consensus rating of "Hold" and an average price target of $6.31.

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.

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