ADAR1 Capital Management LLC Decreases Stake in Algonquin Power & Utilities Corp. (NYSE:AQN)

ADAR1 Capital Management LLC lessened its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 50.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,000 shares of the utilities provider’s stock after selling 40,000 shares during the period. ADAR1 Capital Management LLC’s holdings in Algonquin Power & Utilities were worth $178,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AQN. Bank of Montreal Can increased its holdings in shares of Algonquin Power & Utilities by 0.6% in the 4th quarter. Bank of Montreal Can now owns 21,000,723 shares of the utilities provider’s stock valued at $93,090,000 after acquiring an additional 117,757 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Algonquin Power & Utilities by 40.5% in the fourth quarter. Quadrant Capital Group LLC now owns 17,555 shares of the utilities provider’s stock valued at $78,000 after purchasing an additional 5,060 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Algonquin Power & Utilities by 72.9% in the fourth quarter. Russell Investments Group Ltd. now owns 82,755 shares of the utilities provider’s stock valued at $368,000 after purchasing an additional 34,883 shares during the last quarter. Geode Capital Management LLC raised its holdings in Algonquin Power & Utilities by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 1,240,480 shares of the utilities provider’s stock worth $5,520,000 after purchasing an additional 61,015 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Algonquin Power & Utilities by 85.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,730,749 shares of the utilities provider’s stock worth $16,539,000 after buying an additional 1,719,928 shares during the last quarter. 62.28% of the stock is owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Stock Down 3.2 %

Shares of Algonquin Power & Utilities stock opened at $4.70 on Tuesday. Algonquin Power & Utilities Corp. has a one year low of $4.19 and a one year high of $6.79. The company has a market cap of $3.60 billion, a P/E ratio of -3.64 and a beta of 0.65. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. The firm has a fifty day moving average of $4.85 and a two-hundred day moving average of $4.81.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Friday, March 7th. The utilities provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). The firm had revenue of $584.80 million during the quarter, compared to analyst estimates of $644.73 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. On average, analysts forecast that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend is Monday, March 31st. Algonquin Power & Utilities’s dividend payout ratio is presently -14.44%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AQN. National Bankshares dropped 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 research report on Tuesday, February 11th. Royal Bank of Canada reduced their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a report on Tuesday, February 18th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. Finally, Scotiabank lifted their price target on 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Algonquin Power & Utilities presently has an average rating of “Hold” and an average price target of $5.94.

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.