Deutsche Bank AG Reduces Stock Position in Algonquin Power & Utilities Corp. $AQN

Deutsche Bank AG lowered its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 9.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,682 shares of the utilities provider’s stock after selling 5,915 shares during the quarter. Deutsche Bank AG’s holdings in Algonquin Power & Utilities were worth $307,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of AQN. US Bancorp DE lifted its holdings in shares of Algonquin Power & Utilities by 85.7% in the 1st quarter. US Bancorp DE now owns 4,887 shares of the utilities provider’s stock worth $25,000 after buying an additional 2,256 shares during the period. Atria Wealth Solutions Inc. purchased a new stake in shares of Algonquin Power & Utilities in the 1st quarter worth $51,000. Sowell Financial Services LLC purchased a new stake in shares of Algonquin Power & Utilities in the 1st quarter worth $59,000. NBC Securities Inc. lifted its holdings in shares of Algonquin Power & Utilities by 111,700.0% in the 1st quarter. NBC Securities Inc. now owns 12,298 shares of the utilities provider’s stock worth $63,000 after buying an additional 12,287 shares during the period. Finally, Oakwell Private Wealth Management LLC purchased a new stake in shares of Algonquin Power & Utilities in the 1st quarter worth $63,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Raymond James Financial upped their price objective on Algonquin Power & Utilities from $5.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 4th. Wall Street Zen cut Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Desjardins upped their price objective on Algonquin Power & Utilities from $4.75 to $6.00 and gave the stock a “hold” rating in a research note on Wednesday, June 4th. National Bank Financial upgraded Algonquin Power & Utilities to a “hold” rating in a research note on Sunday, June 8th. Finally, Scotiabank upped their price objective on Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “sector perform” rating in a research note on Wednesday, June 4th. Twelve equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $6.31.

Algonquin Power & Utilities Trading Up 0.1%

Shares of NYSE:AQN opened at $5.81 on Friday. The business’s 50-day moving average is $5.84 and its 200 day moving average is $5.46. Algonquin Power & Utilities Corp. has a 1 year low of $4.19 and a 1 year high of $6.24. The firm has a market capitalization of $4.46 billion, a P/E ratio of -3.22 and a beta of 0.67. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.09 and a quick ratio of 0.86.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Friday, August 8th. The utilities provider reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $535.59 million for the quarter, compared to analyst estimates of $535.64 million. Algonquin Power & Utilities had a positive return on equity of 4.76% and a negative net margin of 57.66%.During the same period in the prior year, the company earned $0.09 earnings per share. On average, research analysts predict that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.065 per share. The ex-dividend date is Monday, September 29th. This represents a $0.26 dividend on an annualized basis and a yield of 4.5%. Algonquin Power & Utilities’s dividend payout ratio is currently -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.