Stifel Financial Corp Sells 4,127 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Stifel Financial Corp lowered its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,820 shares of the utilities provider’s stock after selling 4,127 shares during the period. Stifel Financial Corp’s holdings in Algonquin Power & Utilities were worth $533,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Central Pacific Bank Trust Division bought a new stake in Algonquin Power & Utilities during the 3rd quarter worth approximately $54,000. Capstone Investment Advisors LLC purchased a new stake in Algonquin Power & Utilities in the 3rd quarter worth approximately $58,000. Walleye Capital LLC purchased a new stake in shares of Algonquin Power & Utilities in the 3rd quarter valued at about $59,000. Claro Advisors LLC bought a new position in shares of Algonquin Power & Utilities in the 2nd quarter worth $61,000. Finally, Verdence Capital Advisors LLC purchased a new position in shares of Algonquin Power & Utilities in the 3rd quarter worth about $61,000. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Stock Up 0.7 %

AQN stock opened at $4.52 on Friday. The business’s 50-day moving average is $4.76 and its two-hundred day moving average is $5.34. The company has a market cap of $3.47 billion, a price-to-earnings ratio of -3.50 and a beta of 0.68. Algonquin Power & Utilities Corp. has a fifty-two week low of $4.25 and a fifty-two week high of $6.79. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). 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 $573.20 million during the quarter, compared to the consensus estimate of $620.46 million. During the same quarter 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. As a group, analysts forecast that Algonquin Power & Utilities Corp. will post 0.39 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.065 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.26 annualized dividend and a dividend yield of 5.75%. Algonquin Power & Utilities’s payout ratio is -20.16%.

Analyst Ratings Changes

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

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.