Virtu Financial LLC Takes $211,000 Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

Virtu Financial LLC acquired a new stake in Algonquin Power & Utilities Corp. (NYSE:AQN) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 33,379 shares of the utilities provider’s stock, valued at approximately $211,000.

A number of other large investors also recently modified their holdings of the company. FMR LLC lifted its position in Algonquin Power & Utilities by 8.7% during the third quarter. FMR LLC now owns 3,529,781 shares of the utilities provider’s stock valued at $20,894,000 after purchasing an additional 281,699 shares during the last quarter. Invesco Ltd. lifted its position in Algonquin Power & Utilities by 6.6% during the third quarter. Invesco Ltd. now owns 9,881,130 shares of the utilities provider’s stock valued at $58,496,000 after purchasing an additional 616,049 shares during the last quarter. Aigen Investment Management LP bought a new stake in Algonquin Power & Utilities during the third quarter valued at approximately $200,000. Hsbc Holdings PLC lifted its position in Algonquin Power & Utilities by 37.7% during the third quarter. Hsbc Holdings PLC now owns 349,785 shares of the utilities provider’s stock valued at $2,074,000 after purchasing an additional 95,693 shares during the last quarter. Finally, Consolidated Portfolio Review Corp lifted its position in Algonquin Power & Utilities by 31.5% during the third quarter. Consolidated Portfolio Review Corp now owns 37,771 shares of the utilities provider’s stock valued at $224,000 after purchasing an additional 9,037 shares during the last quarter. 62.28% of the stock is currently owned by institutional investors.

Algonquin Power & Utilities Stock Up 0.3 %

Shares of NYSE AQN opened at $5.77 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. Algonquin Power & Utilities Corp. has a 52 week low of $4.90 and a 52 week high of $8.51. The firm’s fifty day moving average is $6.23 and its 200 day moving average is $6.16. The company has a market cap of $3.98 billion, a price-to-earnings ratio of -11.78 and a beta of 0.68.

Algonquin Power & Utilities (NYSE:AQN) last issued its earnings results on Friday, May 10th. The utilities provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Algonquin Power & Utilities had a positive return on equity of 5.39% and a negative net margin of 12.44%. The firm had revenue of $737.10 million during the quarter, compared to analysts’ expectations of $813.38 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts expect that Algonquin Power & Utilities Corp. will post 0.46 earnings per share for the current year.

Algonquin Power & Utilities Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.108 per share. This represents a $0.43 dividend on an annualized basis and a yield of 7.49%. The ex-dividend date is Friday, June 28th. Algonquin Power & Utilities’s payout ratio is currently -87.76%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. National Bankshares lifted their target price on shares of Algonquin Power & Utilities from $6.75 to $7.25 and gave the company a “sector perform” rating in a research report on Tuesday, May 28th. TD Securities lifted their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “hold” rating in a research note on Monday, March 11th. Desjardins lifted their price target on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “hold” rating in a research note on Thursday, June 6th. Wells Fargo & Company lifted their price target on shares of Algonquin Power & Utilities from $8.00 to $8.50 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Finally, Scotiabank decreased their price target on shares of Algonquin Power & Utilities from $7.50 to $6.50 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.47.

About Algonquin Power & Utilities

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.