CenterBook Partners LP Cuts Stock Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

CenterBook Partners LP cut its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 47.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Algonquin Power & Utilities Stock Down 0.1%

Shares of NYSE:AQN traded down $0.01 during trading on Thursday, hitting $5.87. The stock had a trading volume of 3,935,998 shares, compared to its average volume of 8,697,753. Algonquin Power & Utilities Corp. has a 12 month low of $4.19 and a 12 month high of $6.36. The company has a market capitalization of $4.51 billion, a PE ratio of -3.79 and a beta of 0.69. The firm's fifty day moving average is $5.73 and its 200 day moving average is $5.16. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.21.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. The company had revenue of $692.40 million for 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 quarter in the prior year, the business posted $0.14 EPS. Analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 EPS 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 paid a $0.065 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.26 annualized dividend and a dividend yield of 4.43%. Algonquin Power & Utilities's payout ratio is currently -16.77%.

Wall Street Analyst Weigh In

AQN has been the subject of a number of recent analyst reports. National Bankshares lowered 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 report on Wednesday, June 4th. Royal Bank Of Canada upped their price target 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. CIBC upped their price target 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. BMO Capital Markets reaffirmed a "market perform" rating and set a $6.00 price target (up previously from $5.00) on shares of Algonquin Power & Utilities in a research report on Monday, May 12th. Finally, Scotiabank upped their price target 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. One equities research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $6.31.

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.