Bfsg LLC Makes New $119,000 Investment in Algonquin Power & Utilities Corp. (NYSE:AQN)

Bfsg LLC bought a new stake in Algonquin Power & Utilities Corp. (NYSE:AQN) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 21,830 shares of the utilities provider’s stock, valued at approximately $119,000.

Other hedge funds have also recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in shares of Algonquin Power & Utilities during the 3rd quarter valued at approximately $54,000. Claro Advisors LLC bought a new stake in shares of Algonquin Power & Utilities during the 2nd quarter valued at approximately $61,000. SeaCrest Wealth Management LLC bought a new stake in shares of Algonquin Power & Utilities during the 2nd quarter valued at approximately $66,000. Larson Financial Group LLC bought a new stake in shares of Algonquin Power & Utilities during the 1st quarter valued at approximately $76,000. Finally, SVB Wealth LLC bought a new stake in shares of Algonquin Power & Utilities during the 1st quarter valued at approximately $82,000. 62.28% of the stock is owned by institutional investors.

Algonquin Power & Utilities Stock Up 1.2 %

Shares of NYSE AQN opened at $5.18 on Friday. The firm has a market cap of $3.97 billion, a PE ratio of -10.57 and a beta of 0.66. Algonquin Power & Utilities Corp. has a 12-month low of $4.90 and a 12-month high of $6.79. The company’s fifty day simple moving average is $5.31 and its 200 day simple moving average is $5.86. The company has a quick ratio of 0.78, a current ratio of 0.97 and a debt-to-equity ratio of 1.08.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Friday, August 9th. The utilities provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 5.36%. The firm had revenue of $598.60 million for the quarter, compared to the consensus estimate of $635.95 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The business’s revenue was down 4.7% on a year-over-year basis. As a group, sell-side analysts forecast that Algonquin Power & Utilities Corp. will post 0.43 earnings per share for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.065 per share. The ex-dividend date was Monday, September 30th. This represents a $0.26 annualized dividend and a yield of 5.02%. Algonquin Power & Utilities’s payout ratio is -53.06%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AQN shares. CIBC decreased their price target on shares of Algonquin Power & Utilities from $6.00 to $5.75 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. National Bank Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Desjardins cut their target price on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating on the stock in a research report on Monday, August 12th. Wells Fargo & Company dropped their price target on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Janney Montgomery Scott initiated coverage on shares of Algonquin Power & Utilities in a research report on Thursday, September 5th. They issued a “neutral” rating and a $6.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Algonquin Power & Utilities presently has a consensus rating of “Hold” and an average price target of $6.25.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.