10,690 Shares in Algonquin Power & Utilities Corp. (NYSE:AQN) Acquired by Capstone Investment Advisors LLC

Capstone Investment Advisors LLC purchased a new stake in Algonquin Power & Utilities Corp. (NYSE:AQN) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,690 shares of the utilities provider’s stock, valued at approximately $58,000.

Several other hedge funds have also recently bought and sold shares of the stock. Virtu Financial LLC grew its holdings in shares of Algonquin Power & Utilities by 47.1% in the 1st quarter. Virtu Financial LLC now owns 49,104 shares of the utilities provider’s stock worth $310,000 after purchasing an additional 15,725 shares during the last quarter. Cetera Advisors LLC acquired a new stake in shares of Algonquin Power & Utilities during the first quarter worth approximately $237,000. Value Partners Investments Inc. raised its stake in shares of Algonquin Power & Utilities by 97.2% in the second quarter. Value Partners Investments Inc. now owns 36,157 shares of the utilities provider’s stock valued at $212,000 after acquiring an additional 17,819 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in shares of Algonquin Power & Utilities by 141.6% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 26,900 shares of the utilities provider’s stock worth $158,000 after acquiring an additional 15,764 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in shares of Algonquin Power & Utilities in the 2nd quarter worth approximately $2,344,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AQN has been the topic of a number of recent analyst reports. Janney Montgomery Scott began coverage on Algonquin Power & Utilities in a research note on Thursday, September 5th. They issued a “neutral” rating and a $6.00 price objective on the stock. Wells Fargo & Company decreased their price objective on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. CIBC dropped their target price on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Desjardins decreased their price target on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating on the stock in a research note on Monday, August 12th. Finally, National Bank Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.18.

Algonquin Power & Utilities Trading Up 1.4 %

NYSE:AQN opened at $4.95 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. Algonquin Power & Utilities Corp. has a 1-year low of $4.67 and a 1-year high of $6.79. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of -3.84 and a beta of 0.68. The business’s 50-day moving average price is $5.02 and its two-hundred day moving average price is $5.56.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $573.20 million during the quarter, compared to analyst estimates of $620.46 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share. On average, equities analysts expect that Algonquin Power & Utilities Corp. will post 0.39 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is -20.15%.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.