Quantbot Technologies LP Has $3.41 Million Stake in Algonquin Power & Utilities Corp. (NYSE:AQN)

Quantbot Technologies LP lowered its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 11.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 625,090 shares of the utilities provider’s stock after selling 82,617 shares during the quarter. Quantbot Technologies LP’s holdings in Algonquin Power & Utilities were worth $3,407,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AQN. Central Pacific Bank Trust Division acquired a new stake in shares of Algonquin Power & Utilities in the 3rd quarter valued at approximately $54,000. Claro Advisors LLC bought a new position in shares of Algonquin Power & Utilities during the second quarter worth $61,000. Verdence Capital Advisors LLC acquired a new position in shares of Algonquin Power & Utilities in the 3rd quarter valued at $61,000. SeaCrest Wealth Management LLC bought a new stake in shares of Algonquin Power & Utilities in the 2nd quarter valued at $66,000. Finally, Raymond James Trust N.A. raised its stake in Algonquin Power & Utilities by 33.4% during the 3rd quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider’s stock worth $73,000 after buying an additional 3,343 shares during the period. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on AQN shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 target price on shares of Algonquin Power & Utilities in a research note on Friday, October 11th. National Bank Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Desjardins reduced their price target 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 price objective on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company cut 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 research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Algonquin Power & Utilities currently has an average rating of “Hold” and a consensus target price of $6.18.

Algonquin Power & Utilities Price Performance

NYSE:AQN opened at $4.88 on Thursday. The stock’s 50-day simple moving average is $5.05 and its 200 day simple moving average is $5.60. Algonquin Power & Utilities Corp. has a 52-week low of $4.67 and a 52-week high of $6.79. 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 company has a market cap of $3.74 billion, a P/E ratio of -3.69 and a beta of 0.68.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The company had revenue of $573.20 million for the quarter, compared to analyst estimates of $620.46 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the firm earned $0.11 EPS. As a group, sell-side analysts forecast that Algonquin Power & Utilities Corp. will post 0.4 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 5.33%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently -20.15%.

Algonquin Power & Utilities Company 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.