Algonquin Power & Utilities Corp. $AQN Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 18.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,620,856 shares of the utilities provider’s stock after selling 1,237,474 shares during the period. First Trust Advisors LP’s holdings in Algonquin Power & Utilities were worth $34,512,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Algonquin Power & Utilities in the third quarter worth about $29,000. Group One Trading LLC increased its holdings in Algonquin Power & Utilities by 63.3% during the 4th quarter. Group One Trading LLC now owns 7,479 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 2,900 shares during the last quarter. NewEdge Advisors LLC acquired a new position in shares of Algonquin Power & Utilities in the 4th quarter valued at approximately $47,000. Vise Technologies Inc. purchased a new position in shares of Algonquin Power & Utilities during the 3rd quarter valued at approximately $56,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of Algonquin Power & Utilities during the fourth quarter worth approximately $62,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Stock Performance

AQN stock opened at $6.03 on Tuesday. The stock’s 50 day simple moving average is $5.86 and its 200 day simple moving average is $6.21. Algonquin Power & Utilities Corp. has a 12-month low of $5.32 and a 12-month high of $7.11. The firm has a market cap of $4.64 billion, a P/E ratio of 27.39 and a beta of 0.71. The company has a current ratio of 1.05, a quick ratio of 0.87 and a debt-to-equity ratio of 1.26.

Algonquin Power & Utilities (NYSE:AQN) last released its earnings results on Friday, May 8th. The utilities provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. Algonquin Power & Utilities had a net margin of 6.62% and a return on equity of 5.21%. The firm had revenue of $713.69 million during the quarter, compared to analyst estimates of $713.69 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. As a group, equities research analysts predict that Algonquin Power & Utilities Corp. will post 0.36 EPS for the current year.

Algonquin Power & Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.065 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.26 annualized dividend and a yield of 4.3%. Algonquin Power & Utilities’s dividend payout ratio is 118.18%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Algonquin Power & Utilities in a research note on Friday, July 17th. Wells Fargo & Company assumed coverage on shares of Algonquin Power & Utilities in a report on Tuesday, May 12th. They set an “equal weight” rating and a $7.00 price objective for the company. Canadian Imperial Bank of Commerce boosted their target price on shares of Algonquin Power & Utilities from $6.25 to $6.50 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Barclays initiated coverage on shares of Algonquin Power & Utilities in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $7.00 target price on the stock. Finally, National Bank Financial reduced their price target on shares of Algonquin Power & Utilities from $7.25 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, July 3rd. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.81.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp (NYSE: AQN) is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.

The company’s renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.