CWA Asset Management Group LLC Has $1.47 Million Stock Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

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

Other large investors have also modified their holdings of the company. SVB Wealth LLC bought a new position in Algonquin Power & Utilities in the 4th quarter worth $49,000. Sowell Financial Services LLC bought a new position in shares of Algonquin Power & Utilities in the first quarter worth about $59,000. NBC Securities Inc. lifted its position in shares of Algonquin Power & Utilities by 111,700.0% during the 1st quarter. NBC Securities Inc. now owns 12,298 shares of the utilities provider's stock worth $63,000 after purchasing an additional 12,287 shares during the last quarter. Avantax Advisory Services Inc. bought a new stake in Algonquin Power & Utilities during the 4th quarter valued at approximately $58,000. Finally, Capstone Investment Advisors LLC boosted its stake in Algonquin Power & Utilities by 59.6% during the 4th 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 owned by institutional investors.

Wall Street Analyst Weigh In

AQN has been the subject of several research reports. National Bankshares cut 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. National Bank Financial raised shares of Algonquin Power & Utilities to a "hold" rating in a report on Sunday, June 8th. Scotiabank boosted their price objective on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Raymond James Financial upped their price objective on shares of Algonquin Power & Utilities from $5.00 to $6.00 and gave the company a "market perform" rating in a research report on Wednesday, June 4th. Finally, CIBC lifted their target price on Algonquin Power & Utilities from $5.75 to $6.25 and gave the stock a "neutral" rating in a research report 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 MarketBeat, Algonquin Power & Utilities currently has a consensus rating of "Hold" and an average price target of $6.31.

Algonquin Power & Utilities Stock Performance

NYSE:AQN opened at $5.75 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.21. The firm has a 50-day moving average price of $5.55 and a 200 day moving average price of $4.99. The firm has a market capitalization of $4.41 billion, a PE ratio of -3.71 and a beta of 0.67. Algonquin Power & Utilities Corp. has a 12-month low of $4.19 and a 12-month high of $6.36.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its earnings results on Friday, May 9th. The utilities provider reported $0.14 EPS for the quarter, topping the consensus estimate 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 quarter last year, the company earned $0.14 EPS. Research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 4.53%. The ex-dividend date is Monday, June 30th. Algonquin Power & Utilities's payout ratio is -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.

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