Rock Point Advisors LLC Has $2.18 Million Stock Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

Rock Point Advisors LLC cut its position in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 35.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 423,710 shares of the utilities provider's stock after selling 236,925 shares during the quarter. Rock Point Advisors LLC owned approximately 0.06% of Algonquin Power & Utilities worth $2,178,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale increased its position in Algonquin Power & Utilities by 5.2% during the 1st 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 during the period. Bank of New York Mellon Corp boosted its stake in shares of Algonquin Power & Utilities by 16.3% during the first quarter. Bank of New York Mellon Corp now owns 14,809 shares of the utilities provider's stock valued at $76,000 after acquiring an additional 2,073 shares during the last quarter. Cidel Asset Management Inc. lifted its stake in shares of Algonquin Power & Utilities by 1.8% during the first quarter. Cidel Asset Management Inc. now owns 2,539,346 shares of the utilities provider's stock valued at $13,039,000 after buying an additional 45,575 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Algonquin Power & Utilities during the 1st quarter valued at about $288,000. Finally, Value Partners Investments Inc. grew its position in Algonquin Power & Utilities by 89.1% during the first quarter. Value Partners Investments Inc. now owns 37,963 shares of the utilities provider's stock valued at $195,000 after acquiring an additional 17,890 shares during the period. 62.28% of the stock is owned by institutional investors and hedge funds.

Algonquin Power & Utilities Stock Up 1.0%

Shares of NYSE:AQN traded up $0.06 during midday trading on Thursday, hitting $5.85. 7,233,461 shares of the stock were exchanged, compared to its average volume of 8,718,624. The business's fifty day simple moving average is $5.69 and its two-hundred day simple moving average is $5.11. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.94 and a current ratio of 1.16. Algonquin Power & Utilities Corp. has a 52-week low of $4.19 and a 52-week high of $6.36. The company has a market capitalization of $4.49 billion, a PE ratio of -3.77 and a beta of 0.69.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. The business had revenue of $692.40 million during 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 business posted $0.14 EPS. As a group, research analysts predict that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date is Monday, June 30th. Algonquin Power & Utilities's dividend payout ratio is presently -16.77%.

Analysts Set New Price Targets

Several equities analysts have recently commented on AQN shares. BMO Capital Markets reiterated a "market perform" rating and set a $6.00 target price (up from $5.00) on shares of Algonquin Power & Utilities in a research note on Monday, May 12th. TD Securities boosted their price target on Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a "hold" rating in a research report on Wednesday, June 4th. CIBC boosted their price objective on Algonquin Power & Utilities from $5.75 to $6.25 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Scotiabank boosted their target price on Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Finally, Raymond James Financial increased their price target on 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. One analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $6.31.

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.