CWA Asset Management Group LLC Buys New Shares in Algonquin Power & Utilities Corp. (NYSE:AQN)

CWA Asset Management Group LLC purchased a new position in Algonquin Power & Utilities Corp. (NYSE:AQN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 203,480 shares of the utilities provider’s stock, valued at approximately $905,000.

Other institutional investors also recently modified their holdings of the company. Central Pacific Bank Trust Division acquired a new position in shares of Algonquin Power & Utilities in the 3rd quarter worth $54,000. Capstone Investment Advisors LLC purchased a new stake in Algonquin Power & Utilities during the third quarter valued at about $58,000. Walleye Capital LLC acquired a new position in shares of Algonquin Power & Utilities in the third quarter worth about $59,000. Verdence Capital Advisors LLC acquired a new stake in shares of Algonquin Power & Utilities during the third quarter valued at approximately $61,000. Finally, Raymond James Trust N.A. lifted its position in shares of Algonquin Power & Utilities by 33.4% in the 3rd quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider’s stock valued at $73,000 after acquiring an additional 3,343 shares in the last quarter. Institutional investors own 62.28% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Scotiabank lowered their price objective on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $7.00 price objective on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. Wells Fargo & Company decreased their price objective on Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 price target on shares of Algonquin Power & Utilities in a research report on Friday, October 11th. Finally, CIBC lowered their price objective on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.25.

Algonquin Power & Utilities Price Performance

NYSE AQN opened at $4.46 on Wednesday. Algonquin Power & Utilities Corp. has a fifty-two week low of $4.25 and a fifty-two week high of $6.79. The stock’s 50-day moving average is $4.67 and its two-hundred day moving average is $5.25. The firm has a market cap of $3.42 billion, a P/E ratio of -3.46 and a beta of 0.69. 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 (NYSE:AQN) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The company had revenue of $573.20 million during the quarter, compared to the consensus estimate of $620.46 million. During the same period in the previous year, the business posted $0.11 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. On average, analysts anticipate that Algonquin Power & Utilities Corp. will post 0.39 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.065 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.26 dividend on an annualized basis and a yield of 5.83%. Algonquin Power & Utilities’s payout ratio is presently -20.16%.

Algonquin Power & Utilities 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.