International Assets Investment Management LLC Takes $710,000 Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

International Assets Investment Management LLC bought a new stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,224 shares of the utilities provider’s stock, valued at approximately $710,000.

A number of other large investors have also recently modified their holdings of AQN. Pacifica Partners Inc. boosted its stake in shares of Algonquin Power & Utilities by 1,975.0% during the 4th quarter. Pacifica Partners Inc. now owns 4,150 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 3,950 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Algonquin Power & Utilities during the third quarter worth about $28,000. CTC Alternative Strategies Ltd. bought a new stake in Algonquin Power & Utilities during the third quarter worth about $62,000. SG Americas Securities LLC bought a new stake in Algonquin Power & Utilities during the fourth quarter worth about $64,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in Algonquin Power & Utilities during the third quarter worth about $70,000. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Trading Up 0.4 %

Shares of NYSE AQN opened at $6.19 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.50 and a current ratio of 0.63. The firm’s 50 day moving average price is $6.04 and its 200-day moving average price is $5.98. Algonquin Power & Utilities Corp. has a 52-week low of $4.90 and a 52-week high of $9.14. The company has a market cap of $4.27 billion, a PE ratio of 206.17 and a beta of 0.66.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Friday, March 8th. The utilities provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. Algonquin Power & Utilities had a net margin of 1.06% and a return on equity of 5.64%. The firm had revenue of $666.90 million during the quarter, compared to analysts’ expectations of $661.73 million. During the same period in the previous year, the company earned $0.22 earnings per share. The firm’s quarterly revenue was down 10.8% on a year-over-year basis. On average, equities research analysts expect that Algonquin Power & Utilities Corp. will post 0.49 EPS for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.1085 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.43 annualized dividend and a dividend yield of 7.02%. Algonquin Power & Utilities’s payout ratio is 1,433.33%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. TD Securities boosted their price objective on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “hold” rating in a research note on Monday, March 11th. Scotiabank dropped their price objective on shares of Algonquin Power & Utilities from $7.50 to $6.50 and set a “sector perform” rating on the stock in a research note on Monday. CIBC boosted their price objective on shares of Algonquin Power & Utilities from $7.00 to $7.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. BMO Capital Markets upgraded shares of Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $7.00 to $7.50 in a research note on Monday, January 8th. Finally, StockNews.com upgraded shares of Algonquin Power & Utilities to a “sell” rating in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.67.

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.