Algonquin Power & Utilities Corp. $AQN Shares Sold by Phoenix Financial Ltd.

Phoenix Financial Ltd. reduced its holdings in Algonquin Power & Utilities Corp. (NYSE:AQN) by 6.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,678 shares of the utilities provider’s stock after selling 2,581 shares during the quarter. Phoenix Financial Ltd.’s holdings in Algonquin Power & Utilities were worth $204,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AQN. US Bancorp DE lifted its holdings in Algonquin Power & Utilities by 85.7% in the first quarter. US Bancorp DE now owns 4,887 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 2,256 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Algonquin Power & Utilities in the first quarter valued at about $31,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Algonquin Power & Utilities in the first quarter valued at about $51,000. Oakwell Private Wealth Management LLC acquired a new stake in shares of Algonquin Power & Utilities in the first quarter valued at about $63,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Algonquin Power & Utilities by 16.3% in the first quarter. Bank of New York Mellon Corp now owns 14,809 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 2,073 shares during the period. Institutional investors and hedge funds own 62.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AQN shares. Desjardins lifted their price target on Algonquin Power & Utilities from $6.25 to $6.75 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Wall Street Zen cut shares of Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of Algonquin Power & Utilities in a research report on Wednesday, October 8th. Finally, TD Securities upgraded shares of Algonquin Power & Utilities to a “hold” rating in a research report on Monday, August 11th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $6.50.

Algonquin Power & Utilities Stock Performance

NYSE:AQN opened at $5.79 on Friday. The firm has a 50 day simple moving average of $5.70 and a 200-day simple moving average of $5.66. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.09 and a quick ratio of 0.86. The firm has a market cap of $4.44 billion, a PE ratio of -3.21 and a beta of 0.72. Algonquin Power & Utilities Corp. has a 1-year low of $4.19 and a 1-year high of $6.24.

Algonquin Power & Utilities (NYSE:AQN) last posted 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 during the quarter, compared to analyst estimates of $535.64 million. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. During the same quarter in the previous year, the business posted $0.09 earnings per share. On average, equities analysts expect that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, September 29th. Algonquin Power & Utilities’s dividend payout ratio is presently -14.44%.

About Algonquin Power & Utilities

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.