Algonquin Power & Utilities Corp. (NYSE:AQN) Shares Bought by CWA Asset Management Group LLC

CWA Asset Management Group LLC lifted its stake in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 40.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 285,680 shares of the utilities provider's stock after purchasing an additional 82,200 shares during the period. CWA Asset Management Group LLC's holdings in Algonquin Power & Utilities were worth $1,468,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AQN. SVB Wealth LLC purchased a new position in Algonquin Power & Utilities in the fourth quarter valued at $49,000. Avantax Advisory Services Inc. purchased a new position in Algonquin Power & Utilities in the fourth quarter valued at $58,000. Sowell Financial Services LLC purchased a new position in Algonquin Power & Utilities in the first quarter valued at $59,000. NBC Securities Inc. boosted its holdings in 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 purchasing an additional 12,287 shares during the period. Finally, Capstone Investment Advisors LLC boosted its holdings in 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 purchasing an additional 6,370 shares during the period. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AQN has been the subject of a number of recent analyst reports. TD Securities lifted their price target on Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a "hold" rating in a report on Wednesday, June 4th. National Bank Financial raised Algonquin Power & Utilities to a "hold" rating in a report on Sunday, June 8th. Scotiabank lifted their price target on Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Desjardins lifted their price target on Algonquin Power & Utilities from $4.75 to $6.00 and gave the stock a "hold" rating in a report on Wednesday, June 4th. Finally, 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 report on Monday, May 12th. 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, the company has an average rating of "Hold" and a consensus price target of $6.31.

Algonquin Power & Utilities Stock Performance

AQN stock traded up $0.05 during trading on Monday, hitting $5.77. The company had a trading volume of 10,005,071 shares, compared to its average volume of 8,586,698. The firm has a market cap of $4.43 billion, a PE ratio of -3.72 and a beta of 0.67. Algonquin Power & Utilities Corp. has a 1-year low of $4.19 and a 1-year high of $6.36. The firm has a 50-day moving average price of $5.57 and a 200-day moving average price of $5.00. 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 issued its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. The firm had revenue of $692.40 million for the quarter, compared to analysts' expectations 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 previous year, the firm posted $0.14 EPS. On average, analysts expect that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 4.51%. The ex-dividend date is Monday, June 30th. Algonquin Power & Utilities's dividend payout ratio (DPR) is presently -16.77%.

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.