Maven Securities LTD Purchases New Shares in Algonquin Power & Utilities Corp. (NYSE:AQN)

Maven Securities LTD bought a new stake in Algonquin Power & Utilities Corp. (NYSE:AQN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 100,000 shares of the utilities provider’s stock, valued at approximately $445,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SVB Wealth LLC bought a new stake in shares of Algonquin Power & Utilities during the fourth quarter valued at approximately $49,000. Avantax Advisory Services Inc. bought a new position in Algonquin Power & Utilities in the fourth quarter valued at about $58,000. Ballentine Partners LLC acquired a new stake in Algonquin Power & Utilities in the fourth quarter worth about $63,000. Spire Wealth Management raised its holdings in 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 purchasing an additional 10,190 shares during the last quarter. Finally, Capstone Investment Advisors LLC lifted its position in 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 valued at $76,000 after purchasing an additional 6,370 shares during the period. Institutional investors and hedge funds own 62.28% of the company’s stock.

Algonquin Power & Utilities Stock Performance

Shares of Algonquin Power & Utilities stock opened at $5.60 on Wednesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of -4.34 and a beta of 0.67. Algonquin Power & Utilities Corp. has a one year low of $4.19 and a one year high of $6.75. The stock’s 50-day moving average is $5.17 and its 200-day moving average is $4.83.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $692.40 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $0.14 earnings per share. Equities analysts predict that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend is Monday, June 30th. Algonquin Power & Utilities’s dividend payout ratio is currently -15.48%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. CIBC dropped their price target on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a “neutral” rating for the company in a research note on Thursday, April 24th. StockNews.com raised Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada lifted their price objective on Algonquin Power & Utilities from $5.50 to $6.00 and gave the stock a “sector perform” rating in a research note on Monday. Scotiabank increased their target price on Algonquin Power & Utilities from $5.50 to $6.00 and gave the company a “sector perform” rating in a research note on Monday. Finally, National Bankshares decreased their target price on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Ten research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $6.03.

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.