Fiera Capital Corp Cuts Stock Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

Fiera Capital Corp reduced its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 21.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,954 shares of the utilities provider’s stock after selling 7,505 shares during the period. Fiera Capital Corp’s holdings in Algonquin Power & Utilities were worth $427,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Scotia Capital Inc. raised its holdings in Algonquin Power & Utilities by 7.3% during the fourth quarter. Scotia Capital Inc. now owns 4,840,583 shares of the utilities provider’s stock worth $79,676,000 after purchasing an additional 330,542 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Algonquin Power & Utilities by 2.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,929,015 shares of the utilities provider’s stock worth $82,313,000 after buying an additional 86,187 shares during the period. NN Investment Partners Holdings N.V. grew its position in Algonquin Power & Utilities by 43.9% during the first quarter. NN Investment Partners Holdings N.V. now owns 105,900 shares of the utilities provider’s stock worth $1,676,000 after buying an additional 32,300 shares during the period. Phoenix Holdings Ltd. acquired a new position in Algonquin Power & Utilities during the fourth quarter worth about $228,000. Finally, Adell Harriman & Carpenter Inc. grew its position in Algonquin Power & Utilities by 102.6% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 291,155 shares of the utilities provider’s stock worth $4,792,000 after buying an additional 147,480 shares during the period. 44.82% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have weighed in on AQN shares. Credit Suisse Group lowered their target price on shares of Algonquin Power & Utilities from C$17.50 to C$16.50 and set a “neutral” rating on the stock in a research report on Tuesday, May 25th. Zacks Investment Research upgraded shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research report on Wednesday, June 2nd. Morgan Stanley dropped their price objective on shares of Algonquin Power & Utilities from $16.50 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 18th. TheStreet lowered Algonquin Power & Utilities from a “b-” rating to a “c” rating in a research note on Friday, May 7th. Finally, National Bank Financial cut their price target on Algonquin Power & Utilities from $19.00 to $17.00 and set an “outperform” rating for the company in a report on Monday, March 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $16.69.

NYSE AQN opened at $15.94 on Friday. Algonquin Power & Utilities Corp. has a fifty-two week low of $12.45 and a fifty-two week high of $17.86. The firm has a market capitalization of $9.75 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 2.39 and a beta of 0.37. The business has a fifty day moving average of $15.83. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.49 and a current ratio of 0.57.

Algonquin Power & Utilities (NYSE:AQN) last released its earnings results on Thursday, May 6th. The utilities provider reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.01). The business had revenue of $634.50 million during the quarter, compared to analyst estimates of $571.53 million. Algonquin Power & Utilities had a net margin of 46.58% and a return on equity of 7.55%. The business’s revenue for the quarter was up 36.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. As a group, analysts forecast that Algonquin Power & Utilities Corp. will post 0.72 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Investors of record on Wednesday, June 30th will be paid a $0.1706 dividend. This is a positive change from Algonquin Power & Utilities’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Tuesday, June 29th. Algonquin Power & Utilities’s dividend payout ratio is presently 73.44%.

Algonquin Power & Utilities Profile

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada, the United States, Chile, and Bermuda. It generates and sells electrical energy through non-regulated renewable and clean energy power generation facilities.

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Institutional Ownership by Quarter for Algonquin Power & Utilities (NYSE:AQN)

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