CenterBook Partners LP Sells 167,938 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

CenterBook Partners LP decreased its position in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 47.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,061 shares of the utilities provider's stock after selling 167,938 shares during the quarter. CenterBook Partners LP's holdings in Algonquin Power & Utilities were worth $961,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AQN. Vanguard Group Inc. increased its position in Algonquin Power & Utilities by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 31,510,928 shares of the utilities provider's stock worth $139,845,000 after buying an additional 544,198 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Algonquin Power & Utilities during the first quarter worth about $288,000. Charles Schwab Investment Management Inc. grew its holdings in Algonquin Power & Utilities by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,303,614 shares of the utilities provider's stock worth $10,219,000 after acquiring an additional 92,373 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Algonquin Power & Utilities in the 4th quarter valued at $990,000. Finally, Swiss National Bank boosted its position in shares of Algonquin Power & Utilities by 0.6% in the 4th quarter. Swiss National Bank now owns 1,441,700 shares of the utilities provider's stock valued at $6,396,000 after purchasing an additional 8,700 shares during the period. Institutional investors and hedge funds own 62.28% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AQN shares. BMO Capital Markets reaffirmed a "market perform" rating and set a $6.00 price target (up from $5.00) on shares of Algonquin Power & Utilities in a research note on Monday, May 12th. Raymond James Financial raised their price target 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. National Bankshares downgraded Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 price target for the company. in a research note on Wednesday, June 4th. National Bank Financial raised Algonquin Power & Utilities to a "hold" rating in a research note on Sunday, June 8th. Finally, TD Securities raised their price objective on Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a "hold" rating in a research note on Wednesday, June 4th. One analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $6.31.

Algonquin Power & Utilities Trading Up 0.9%

NYSE:AQN traded up $0.05 on Friday, reaching $5.92. The company's stock had a trading volume of 4,791,768 shares, compared to its average volume of 8,699,796. Algonquin Power & Utilities Corp. has a 1-year low of $4.19 and a 1-year high of $6.36. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.94 and a current ratio of 1.16. The firm has a market cap of $4.55 billion, a PE ratio of -3.82 and a beta of 0.69. The business's 50-day moving average price is $5.73 and its two-hundred day moving average price is $5.18.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $692.40 million during the quarter, compared to the consensus estimate of $699.08 million. Algonquin Power & Utilities had a positive return on equity of 4.74% and a negative net margin of 48.78%. During the same period last year, the company earned $0.14 earnings per share. Equities research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.065 per share. The ex-dividend date was Monday, June 30th. This represents a $0.26 annualized dividend and a yield of 4.39%. Algonquin Power & Utilities's dividend payout ratio (DPR) is presently -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.