Samalin Investment Counsel LLC Sells 25,328 Shares of Algonquin Power & Utilities Corp. $AQN

Samalin Investment Counsel LLC lowered its stake in Algonquin Power & Utilities Corp. (NYSE:AQN) by 19.3% during the 2nd quarter, Holdings Channel reports. The firm owned 106,017 shares of the utilities provider’s stock after selling 25,328 shares during the quarter. Samalin Investment Counsel LLC’s holdings in Algonquin Power & Utilities were worth $607,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position 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 worth $76,000 after buying an additional 2,073 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Algonquin Power & Utilities by 5.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 114,834 shares of the utilities provider’s stock worth $583,000 after acquiring an additional 5,693 shares during the last quarter. Ballentine Partners LLC increased its stake in Algonquin Power & Utilities by 50.1% in the 1st quarter. Ballentine Partners LLC now owns 21,242 shares of the utilities provider’s stock worth $109,000 after acquiring an additional 7,092 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Algonquin Power & Utilities by 14.6% during the 1st quarter. Signaturefd LLC now owns 48,586 shares of the utilities provider’s stock worth $250,000 after acquiring an additional 6,203 shares in the last quarter. Finally, Oakwell Private Wealth Management LLC bought a new position in shares of Algonquin Power & Utilities during the 1st quarter valued at approximately $63,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Price Performance

Algonquin Power & Utilities stock opened at $6.19 on Monday. Algonquin Power & Utilities Corp. has a 12-month low of $4.19 and a 12-month high of $6.48. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 1.22. The firm has a 50-day moving average price of $5.68 and a 200-day moving average price of $5.72. The firm has a market capitalization of $4.75 billion, a PE ratio of -3.44 and a beta of 0.75.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $600.80 million for the quarter, compared to analyst estimates of $596.67 million. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. During the same period in the prior year, the company posted $0.08 EPS. As a group, equities research analysts forecast that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio is presently -650.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Raymond James Financial lifted their price objective on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “market perform” rating in a research note on Friday, October 24th. TD Securities upgraded shares of Algonquin Power & Utilities to a “hold” rating in a report on Monday, August 11th. Desjardins upped their target price on shares of Algonquin Power & Utilities from $6.25 to $6.75 and gave the company a “buy” rating in a research report on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Algonquin Power & Utilities in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.55.

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.