Samalin Investment Counsel LLC Sells 4,339 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Samalin Investment Counsel LLC reduced its stake in Algonquin Power & Utilities Corp. (NYSE:AQN) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,269 shares of the utilities provider’s stock after selling 4,339 shares during the period. Samalin Investment Counsel LLC’s holdings in Algonquin Power & Utilities were worth $442,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Bank of Montreal Can grew its holdings in Algonquin Power & Utilities by 6.0% during the 3rd quarter. Bank of Montreal Can now owns 20,882,966 shares of the utilities provider’s stock valued at $115,175,000 after buying an additional 1,190,236 shares in the last quarter. EdgePoint Investment Group Inc. boosted its position in shares of Algonquin Power & Utilities by 5.1% in the third quarter. EdgePoint Investment Group Inc. now owns 17,190,084 shares of the utilities provider’s stock valued at $93,918,000 after acquiring an additional 832,739 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Algonquin Power & Utilities by 45.5% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,959,770 shares of the utilities provider’s stock valued at $70,806,000 after acquiring an additional 4,054,711 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Algonquin Power & Utilities by 6.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,720,474 shares of the utilities provider’s stock worth $42,105,000 after acquiring an additional 447,246 shares during the period. Finally, Private Management Group Inc. increased its holdings in Algonquin Power & Utilities by 161.2% during the 4th quarter. Private Management Group Inc. now owns 5,924,983 shares of the utilities provider’s stock worth $26,366,000 after acquiring an additional 3,656,840 shares during the period. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Stock Down 0.3 %

Shares of NYSE AQN opened at $5.13 on Monday. The stock has a market capitalization of $3.93 billion, a P/E ratio of -3.97 and a beta of 0.71. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. Algonquin Power & Utilities Corp. has a one year low of $4.19 and a one year high of $6.79. The firm’s 50 day simple moving average is $4.70 and its two-hundred day simple moving average is $4.83.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.04). Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The business had revenue of $584.80 million during the quarter, compared to the consensus estimate of $644.73 million. As a group, analysts expect that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.065 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.26 dividend on an annualized basis and a yield of 5.07%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently -14.44%.

Analyst Ratings Changes

AQN has been the topic of several research analyst reports. National Bankshares decreased their price target 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. JPMorgan Chase & Co. restated a “neutral” rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. Scotiabank lifted their price target on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada decreased their price objective on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating on the stock in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, eight have issued 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, Algonquin Power & Utilities presently has an average rating of “Hold” and a consensus price target of $5.94.

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.