UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stake in Algonquin Power & Utilities Corp. (NYSE:AQN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Algonquin Power & Utilities Corp. (NYSE:AQN) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,282,479 shares of the utilities provider’s stock after selling 19,690 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Algonquin Power & Utilities were worth $5,707,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AQN. SVB Wealth LLC purchased a new stake in shares of Algonquin Power & Utilities during the 4th quarter worth approximately $49,000. Avantax Advisory Services Inc. purchased a new stake in shares of Algonquin Power & Utilities during the 4th quarter worth approximately $58,000. Spire Wealth Management lifted its position in shares of Algonquin Power & Utilities by 149.6% during the 4th quarter. Spire Wealth Management now owns 17,000 shares of the utilities provider’s stock worth $76,000 after buying an additional 10,190 shares during the last quarter. Capstone Investment Advisors LLC lifted its position in shares of Algonquin Power & Utilities by 59.6% during the 4th quarter. Capstone Investment Advisors LLC now owns 17,060 shares of the utilities provider’s stock worth $76,000 after buying an additional 6,370 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Algonquin Power & Utilities by 40.5% during the 4th quarter. Quadrant Capital Group LLC now owns 17,555 shares of the utilities provider’s stock worth $78,000 after buying an additional 5,060 shares during the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Stock Performance

Shares of AQN opened at $5.37 on Tuesday. 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 stock has a market capitalization of $4.12 billion, a P/E ratio of -4.16 and a beta of 0.67. The company’s fifty day moving average is $5.31 and its two-hundred day moving average is $4.89. Algonquin Power & Utilities Corp. has a 1 year low of $4.19 and a 1 year high of $6.37.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $692.40 million for the quarter, compared to analysts’ expectations of $699.08 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. During the same period in the previous year, the company posted $0.14 EPS. On average, sell-side analysts predict that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.065 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.26 annualized dividend and a yield of 4.85%. Algonquin Power & Utilities’s dividend payout ratio is currently -15.48%.

Analyst Upgrades and Downgrades

AQN has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Royal Bank of Canada boosted their price objective on shares of Algonquin Power & Utilities from $5.50 to $6.00 and gave the stock a “sector perform” rating in a research report on Monday, May 12th. CIBC reduced their price objective on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a “neutral” rating for the company in a research report on Thursday, April 24th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $6.00 target price (up from $5.00) on shares of Algonquin Power & Utilities in a report on Monday, May 12th. Finally, National Bankshares cut their target price on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.03.

Algonquin Power & Utilities Company 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.