US Bancorp DE Sells 5,407 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

US Bancorp DE decreased its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 41.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,496 shares of the utilities provider’s stock after selling 5,407 shares during the period. US Bancorp DE’s holdings in Algonquin Power & Utilities were worth $41,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Central Pacific Bank Trust Division bought a new stake in shares of Algonquin Power & Utilities during the 3rd quarter valued at $54,000. Claro Advisors LLC bought a new position in Algonquin Power & Utilities in the 2nd quarter worth $61,000. SeaCrest Wealth Management LLC bought a new position in Algonquin Power & Utilities in the 2nd quarter worth $66,000. SVB Wealth LLC bought a new position in Algonquin Power & Utilities in the 1st quarter worth $82,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Algonquin Power & Utilities in the 2nd quarter worth $89,000. Institutional investors own 62.28% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AQN. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 target price on shares of Algonquin Power & Utilities in a report on Friday, October 11th. Scotiabank dropped their target price on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating for the company in a report on Friday, November 8th. CIBC decreased their price target on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Desjardins decreased their price target on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating on the stock in a research note on Monday, August 12th. Finally, National Bank Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Algonquin Power & Utilities currently has an average rating of “Hold” and a consensus price target of $6.18.

Algonquin Power & Utilities Stock Up 0.2 %

Shares of NYSE AQN opened at $4.82 on Monday. The firm’s 50-day moving average price is $5.14 and its 200-day moving average price is $5.69. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of -3.74 and a beta of 0.68. Algonquin Power & Utilities Corp. has a 12-month low of $4.67 and a 12-month high of $6.79.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). The business had revenue of $573.20 million for the quarter, compared to analysts’ expectations of $620.46 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.11 earnings per share. On average, equities research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.4 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.065 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.26 annualized dividend and a yield of 5.39%. Algonquin Power & Utilities’s payout ratio is -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.