Amundi Has $89,000 Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

Amundi lessened its holdings in Algonquin Power & Utilities Corp. (NYSE:AQN) by 56.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,823 shares of the utilities provider’s stock after selling 25,675 shares during the period. Amundi’s holdings in Algonquin Power & Utilities were worth $89,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Raymond James Trust N.A. lifted its stake 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 purchasing an additional 3,343 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Algonquin Power & Utilities by 0.4% in the 4th quarter. CIBC Asset Management Inc now owns 935,130 shares of the utilities provider’s stock valued at $4,141,000 after purchasing an additional 3,656 shares during the last quarter. Northwest & Ethical Investments L.P. lifted its stake in shares of Algonquin Power & Utilities by 12.3% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 47,155 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 5,158 shares during the last quarter. Redwood Investment Management LLC lifted its stake in shares of Algonquin Power & Utilities by 1.2% in the 3rd quarter. Redwood Investment Management LLC now owns 505,299 shares of the utilities provider’s stock valued at $2,794,000 after purchasing an additional 6,176 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of Algonquin Power & Utilities by 11.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 72,471 shares of the utilities provider’s stock valued at $396,000 after purchasing an additional 7,400 shares during the last quarter. Institutional investors and hedge funds own 62.28% of the company’s stock.

Algonquin Power & Utilities Stock Performance

NYSE:AQN opened at $5.13 on Friday. The firm’s 50-day moving average is $4.70 and its 200-day moving average is $4.84. Algonquin Power & Utilities Corp. has a 52-week low of $4.19 and a 52-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. The company has a market cap of $3.93 billion, a price-to-earnings ratio of -3.97 and a beta of 0.70.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Friday, March 7th. The utilities provider reported $0.06 earnings per share (EPS) 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 company had revenue of $584.80 million for the quarter, compared to the consensus estimate of $644.73 million. Equities research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.26 annualized dividend and a dividend yield of 5.07%. Algonquin Power & Utilities’s payout ratio is -14.44%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reduced their price objective on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. National Bankshares dropped their target price 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. Finally, Scotiabank lifted their target price on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Algonquin Power & Utilities presently has a consensus 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.