Graham Capital Management L.P. Trims Stock Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

Graham Capital Management L.P. cut its holdings in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 36.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,846 shares of the utilities provider's stock after selling 45,580 shares during the period. Graham Capital Management L.P.'s holdings in Algonquin Power & Utilities were worth $360,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. SVB Wealth LLC purchased a new position in Algonquin Power & Utilities during the 4th quarter valued at about $49,000. Avantax Advisory Services Inc. bought a new stake in shares of Algonquin Power & Utilities during the 4th quarter valued at about $58,000. Ballentine Partners LLC bought a new position in shares of Algonquin Power & Utilities in the 4th quarter worth $63,000. Spire Wealth Management increased its holdings in shares of Algonquin Power & Utilities by 149.6% in the 4th quarter. Spire Wealth Management now owns 17,000 shares of the utilities provider's stock worth $76,000 after buying an additional 10,190 shares during the last quarter. Finally, Capstone Investment Advisors LLC raised its position in shares of 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 buying an additional 6,370 shares in the last quarter. 62.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AQN shares. Scotiabank upped their target price on shares of Algonquin Power & Utilities from $5.50 to $6.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Royal Bank of Canada upped their target price on Algonquin Power & Utilities from $5.50 to $6.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. National Bankshares cut their price objective on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating for the company in a research note on Tuesday, February 11th. BMO Capital Markets reiterated a "market perform" rating and issued a $6.00 target price (up previously from $5.00) on shares of Algonquin Power & Utilities in a research report on Monday, May 12th. Finally, CIBC cut their price target on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a "neutral" rating for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $6.03.

Algonquin Power & Utilities Stock Down 0.5%

Shares of Algonquin Power & Utilities stock traded down $0.03 during midday trading on Thursday, hitting $5.45. The company had a trading volume of 2,796,104 shares, compared to its average volume of 7,966,556. The stock has a market capitalization of $4.18 billion, a P/E ratio of -4.22 and a beta of 0.67. The company has a 50 day moving average of $5.25 and a 200 day moving average of $4.85. Algonquin Power & Utilities Corp. has a 52-week low of $4.19 and a 52-week high of $6.72. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.05. The company had revenue of $692.40 million during the quarter, compared to analyst estimates of $699.08 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. During the same period in the previous year, the business earned $0.14 EPS. On average, equities analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date is Monday, June 30th. Algonquin Power & Utilities's dividend payout ratio (DPR) is presently -15.48%.

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.