Raymond James Financial Inc. bought a new stake in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 222,429 shares of the utilities provider's stock, valued at approximately $990,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. SVB Wealth LLC bought a new position in Algonquin Power & Utilities in the 4th quarter valued at approximately $49,000. Avantax Advisory Services Inc. bought a new position in shares of Algonquin Power & Utilities in the 4th quarter valued at $58,000. Ballentine Partners LLC acquired a new stake in shares of Algonquin Power & Utilities during the 4th quarter valued at $63,000. Spire Wealth Management grew its position in Algonquin Power & Utilities by 149.6% during the 4th quarter. Spire Wealth Management now owns 17,000 shares of the utilities provider's stock worth $76,000 after acquiring an additional 10,190 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Algonquin Power & Utilities by 40.5% during the 4th quarter. Quadrant Capital Group LLC now owns 17,555 shares of the utilities provider's stock worth $78,000 after acquiring an additional 5,060 shares during the last quarter. Institutional investors own 62.28% of the company's stock.
Algonquin Power & Utilities Trading Up 9.7 %
AQN stock traded up $0.53 during midday trading on Friday, hitting $5.99. The stock had a trading volume of 27,246,768 shares, compared to its average volume of 7,748,749. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. The business has a fifty day moving average price of $5.14 and a two-hundred day moving average price of $4.82. Algonquin Power & Utilities Corp. has a 1-year low of $4.19 and a 1-year high of $6.75. The firm has a market cap of $4.60 billion, a P/E ratio of -4.64 and a beta of 0.67.
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 (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The company had revenue of $692.40 million for the quarter, compared to the consensus estimate of $699.08 million. During the same period in the previous year, the business earned $0.14 EPS. On average, sell-side 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 4.34%. Algonquin Power & Utilities's dividend payout ratio (DPR) is -14.44%.
Wall Street Analyst Weigh In
AQN has been the topic of a number of recent research reports. Royal Bank of Canada cut their price target on Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating on the stock in a research note on Tuesday, February 18th. Scotiabank lifted their target price on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. National Bankshares reduced their target price on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating on the stock in a report on Tuesday, February 11th. Finally, CIBC dropped 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 note on Thursday, April 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $5.92.
Check Out Our Latest Research Report on Algonquin Power & Utilities
Algonquin Power & Utilities Profile
(
Free Report)
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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