Value Partners Investments Inc. Sells 12,736 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Value Partners Investments Inc. lessened its holdings in Algonquin Power & Utilities Corp. (NYSE:AQN) by 38.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,073 shares of the utilities provider’s stock after selling 12,736 shares during the quarter. Value Partners Investments Inc.’s holdings in Algonquin Power & Utilities were worth $89,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. State Street Corp raised its stake in Algonquin Power & Utilities by 11.7% in the 3rd quarter. State Street Corp now owns 2,536,900 shares of the utilities provider’s stock worth $13,991,000 after purchasing an additional 266,500 shares in the last quarter. Jane Street Group LLC grew its position in Algonquin Power & Utilities by 321.5% during the third quarter. Jane Street Group LLC now owns 1,124,923 shares of the utilities provider’s stock worth $6,147,000 after buying an additional 858,022 shares in the last quarter. Barclays PLC increased its stake in Algonquin Power & Utilities by 33.2% during the 3rd quarter. Barclays PLC now owns 829,508 shares of the utilities provider’s stock worth $4,522,000 after acquiring an additional 206,603 shares during the period. Geode Capital Management LLC raised its holdings in Algonquin Power & Utilities by 12.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,179,465 shares of the utilities provider’s stock valued at $7,808,000 after acquiring an additional 128,806 shares in the last quarter. Finally, Virtu Financial LLC grew its holdings in shares of Algonquin Power & Utilities by 382.0% during the 3rd quarter. Virtu Financial LLC now owns 82,854 shares of the utilities provider’s stock worth $452,000 after purchasing an additional 65,663 shares in the last quarter. Institutional investors own 62.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. National Bankshares dropped their price target on 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. Scotiabank increased their price target 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. Finally, Royal Bank of Canada reduced their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating on the stock in a report on Tuesday, February 18th. 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.94.

Algonquin Power & Utilities Trading Up 3.6 %

Shares of AQN stock opened at $5.06 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $3.88 billion, a P/E ratio of -3.92 and a beta of 0.65. Algonquin Power & Utilities Corp. has a twelve month low of $4.19 and a twelve month high of $6.79. The stock’s fifty day simple moving average is $4.90 and its 200 day simple moving average is $4.79.

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

Algonquin Power & Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.065 per share. The ex-dividend date is Monday, March 31st. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.14%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently -14.44%.

Algonquin Power & Utilities Profile

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.