Algonquin Power & Utilities Corp. $AQN Shares Sold by Phoenix Financial Ltd.

Phoenix Financial Ltd. lessened its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 6.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,678 shares of the utilities provider’s stock after selling 2,581 shares during the quarter. Phoenix Financial Ltd.’s holdings in Algonquin Power & Utilities were worth $204,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. EdgePoint Investment Group Inc. increased its position in shares of Algonquin Power & Utilities by 84.9% in the first quarter. EdgePoint Investment Group Inc. now owns 42,223,594 shares of the utilities provider’s stock worth $216,868,000 after acquiring an additional 19,392,805 shares in the last quarter. Vanguard Group Inc. increased its holdings in Algonquin Power & Utilities by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 31,715,401 shares of the utilities provider’s stock valued at $162,859,000 after purchasing an additional 204,473 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Algonquin Power & Utilities by 0.7% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,139,562 shares of the utilities provider’s stock valued at $67,487,000 after purchasing an additional 88,439 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Algonquin Power & Utilities by 65.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock valued at $62,738,000 after purchasing an additional 4,808,539 shares in the last quarter. Finally, Southpoint Capital Advisors LP acquired a new stake in Algonquin Power & Utilities in the 1st quarter valued at $51,400,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. TD Securities upgraded Algonquin Power & Utilities to a “hold” rating in a research note on Monday, August 11th. Wall Street Zen lowered Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Algonquin Power & Utilities in a research report on Wednesday, October 8th. Finally, Desjardins lifted their target price on Algonquin Power & Utilities from $6.25 to $6.75 and gave the stock a “buy” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Algonquin Power & Utilities currently has an average rating of “Hold” and an average target price of $6.50.

Algonquin Power & Utilities Trading Down 1.9%

NYSE:AQN opened at $5.79 on Friday. Algonquin Power & Utilities Corp. has a 12-month low of $4.19 and a 12-month high of $6.24. The firm has a market capitalization of $4.44 billion, a P/E ratio of -3.21 and a beta of 0.72. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.09 and a quick ratio of 0.86. The business has a 50 day simple moving average of $5.70 and a 200 day simple moving average of $5.66.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings results on Friday, August 8th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $535.59 million during the quarter, compared to the consensus estimate of $535.64 million. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. During the same quarter in the previous year, the company posted $0.09 earnings per share. Equities research analysts predict that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $0.065 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $0.26 annualized dividend and a yield of 4.5%. Algonquin Power & Utilities’s dividend payout ratio is presently -14.44%.

Algonquin Power & Utilities Company Profile

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.