Euro Pacific Asset Management LLC Lowers Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

Euro Pacific Asset Management LLC reduced its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 354,781 shares of the utilities provider’s stock after selling 8,704 shares during the period. Euro Pacific Asset Management LLC’s holdings in Algonquin Power & Utilities were worth $1,938,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division acquired a new stake in shares of Algonquin Power & Utilities in the 3rd quarter valued at $54,000. Claro Advisors LLC acquired a new stake in shares of Algonquin Power & Utilities in the second quarter valued at approximately $61,000. SeaCrest Wealth Management LLC purchased a new position in shares of Algonquin Power & Utilities during the second quarter worth approximately $66,000. Verdence Capital Advisors LLC acquired a new position in shares of Algonquin Power & Utilities in the 3rd quarter valued at $61,000. Finally, SVB Wealth LLC acquired a new stake in Algonquin Power & Utilities during the 1st quarter worth $82,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AQN shares. Desjardins reduced their target price on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating for the company in a report on Monday, August 12th. CIBC lowered their target price on Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Janney Montgomery Scott began coverage on Algonquin Power & Utilities in a research note on Thursday, September 5th. They set a “neutral” rating and a $6.00 price target for the company. Scotiabank lowered their price objective on Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Finally, Wells Fargo & Company decreased their price target on Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.18.

Algonquin Power & Utilities Stock Up 0.2 %

Shares of NYSE AQN opened at $4.82 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The firm’s 50-day moving average is $5.14 and its two-hundred day moving average is $5.70. Algonquin Power & Utilities Corp. has a 12-month low of $4.67 and a 12-month high of $6.79. The company has a market capitalization of $3.70 billion, a PE ratio of -3.74 and a beta of 0.68.

Algonquin Power & Utilities (NYSE:AQN) last released its earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). 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 $573.20 million during the quarter, compared to analysts’ expectations of $620.46 million. During the same quarter last year, the company posted $0.11 earnings per share. Algonquin Power & Utilities’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts anticipate that Algonquin Power & Utilities Corp. will post 0.4 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 5.39%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is -20.15%.

Algonquin Power & Utilities Profile

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.