Consolidated Portfolio Review Corp Sells 4,059 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Consolidated Portfolio Review Corp cut its stake in Algonquin Power & Utilities Corp. (NYSE:AQNFree Report) by 9.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,963 shares of the utilities provider’s stock after selling 4,059 shares during the period. Consolidated Portfolio Review Corp’s holdings in Algonquin Power & Utilities were worth $246,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in shares of Algonquin Power & Utilities by 76.3% during the 4th quarter. Parallel Advisors LLC now owns 4,347 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 1,882 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Algonquin Power & Utilities by 10.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 21,628 shares of the utilities provider’s stock valued at $137,000 after acquiring an additional 1,972 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Algonquin Power & Utilities by 0.8% during the fourth quarter. Mackenzie Financial Corp now owns 459,806 shares of the utilities provider’s stock worth $2,902,000 after acquiring an additional 3,443 shares in the last quarter. Metis Global Partners LLC lifted its holdings in shares of Algonquin Power & Utilities by 10.0% in the 4th quarter. Metis Global Partners LLC now owns 39,623 shares of the utilities provider’s stock worth $250,000 after acquiring an additional 3,607 shares during the last quarter. Finally, Pacifica Partners Inc. boosted its stake in shares of Algonquin Power & Utilities by 1,975.0% in 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. Institutional investors own 62.28% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on AQN. Desjardins lifted their target price on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “hold” rating in a research report on Thursday, June 6th. Scotiabank dropped their target price on Algonquin Power & Utilities from $7.50 to $6.50 and set a “sector perform” rating for the company in a report on Monday, April 22nd. National Bankshares raised their price target on Algonquin Power & Utilities from $6.75 to $7.25 and gave the stock a “sector perform” rating in a research report on Tuesday, May 28th. Wells Fargo & Company boosted their price objective on Algonquin Power & Utilities from $8.00 to $8.50 and gave the company an “overweight” rating in a research report on Monday, May 13th. Finally, StockNews.com upgraded shares of Algonquin Power & Utilities to a “sell” rating in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.49.

Get Our Latest Stock Analysis on Algonquin Power & Utilities

Algonquin Power & Utilities Trading Up 0.3 %

Algonquin Power & Utilities stock traded up $0.02 during mid-day trading on Friday, reaching $6.02. 4,321,290 shares of the company traded hands, compared to its average volume of 6,982,580. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. Algonquin Power & Utilities Corp. has a 52-week low of $4.90 and a 52-week high of $8.49. The firm’s 50 day moving average price is $6.22 and its 200 day moving average price is $6.14.

Algonquin Power & Utilities (NYSE:AQNGet Free Report) last released its quarterly earnings results on Friday, May 10th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Algonquin Power & Utilities had a positive return on equity of 5.39% and a negative net margin of 12.44%. The company had revenue of $737.10 million during the quarter, compared to the consensus estimate of $813.38 million. During the same period in the previous year, the company earned $0.17 earnings per share. Algonquin Power & Utilities’s quarterly revenue was down 5.3% on a year-over-year basis. On average, sell-side analysts anticipate that Algonquin Power & Utilities Corp. will post 0.46 earnings per share for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.108 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.43 annualized dividend and a yield of 7.18%. Algonquin Power & Utilities’s payout ratio is -87.76%.

Algonquin Power & Utilities Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Algonquin Power & Utilities (NYSE:AQN)

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