Algonquin Power & Utilities Corp. (NYSE:AQN) Shares Bought by A. D. Beadell Investment Counsel Inc.

A. D. Beadell Investment Counsel Inc. lifted its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 158.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,400 shares of the utilities provider’s stock after buying an additional 54,200 shares during the quarter. A. D. Beadell Investment Counsel Inc.’s holdings in Algonquin Power & Utilities were worth $393,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AQN. Private Advisor Group LLC raised its position in Algonquin Power & Utilities by 14.1% during the third quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider’s stock worth $97,000 after acquiring an additional 2,201 shares during the period. Raymond James Trust N.A. raised its position in shares of Algonquin Power & Utilities by 33.4% during the 3rd quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider’s stock worth $73,000 after purchasing an additional 3,343 shares during the last quarter. Northwest & Ethical Investments L.P. lifted its stake in 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 buying an additional 5,158 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Algonquin Power & Utilities by 25.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 28,704 shares of the utilities provider’s stock worth $179,000 after buying an additional 5,863 shares during the last quarter. Finally, Redwood Investment Management LLC increased its stake in Algonquin Power & Utilities by 1.2% during the 3rd quarter. Redwood Investment Management LLC now owns 505,299 shares of the utilities provider’s stock worth $2,794,000 after buying an additional 6,176 shares in the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Trading Down 3.8 %

Shares of AQN stock traded down $0.17 during trading on Friday, hitting $4.30. 3,009,941 shares of the stock traded hands, compared to its average volume of 6,991,163. The firm has a market capitalization of $3.30 billion, a P/E ratio of -3.33 and a beta of 0.69. Algonquin Power & Utilities Corp. has a 52-week low of $4.25 and a 52-week high of $6.79. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The firm’s fifty day moving average price is $4.65 and its 200-day moving average price is $5.24.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). The business had revenue of $573.20 million during the quarter, compared to analyst estimates 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 business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the company earned $0.11 EPS. As a group, research analysts forecast that Algonquin Power & Utilities Corp. will post 0.39 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date of this dividend is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio is presently -20.16%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AQN. JPMorgan Chase & Co. restated a “neutral” rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. Scotiabank decreased their price objective on Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Wells Fargo & Company dropped their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 price target on shares of Algonquin Power & Utilities in a research note on Friday, October 11th. Finally, CIBC dropped their price objective on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Algonquin Power & Utilities presently has an average rating of “Hold” and a consensus price target of $6.13.

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.