John G Ullman & Associates Inc. Has $482,000 Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

John G Ullman & Associates Inc. cut its position in Algonquin Power & Utilities Corp. (NYSE:AQN) by 65.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 76,300 shares of the utilities provider’s stock after selling 147,350 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Algonquin Power & Utilities were worth $482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Power Corp of Canada acquired a new position in shares of Algonquin Power & Utilities in the 1st quarter valued at approximately $31,000. Captrust Financial Advisors raised its position in shares of Algonquin Power & Utilities by 66.4% in the 2nd quarter. Captrust Financial Advisors now owns 3,526 shares of the utilities provider’s stock valued at $47,000 after buying an additional 1,407 shares in the last quarter. Pacifica Partners Inc. grew its holdings in shares of Algonquin Power & Utilities by 1,975.0% during the 4th quarter. Pacifica Partners Inc. now owns 4,150 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 3,950 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Algonquin Power & Utilities during the 3rd quarter valued at approximately $28,000. Finally, BNP Paribas Arbitrage SA bought a new stake in shares of Algonquin Power & Utilities during the 2nd quarter valued at approximately $88,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities Trading Up 1.5 %

NYSE:AQN opened at $5.93 on Friday. The firm’s fifty day moving average is $6.02 and its 200-day moving average is $5.97. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.50 and a current ratio of 0.63. Algonquin Power & Utilities Corp. has a 52 week low of $4.90 and a 52 week high of $9.14. The firm has a market cap of $4.09 billion, a P/E ratio of 197.67 and a beta of 0.66.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Friday, March 8th. The utilities provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Algonquin Power & Utilities had a net margin of 1.06% and a return on equity of 5.64%. The company had revenue of $666.90 million for the quarter, compared to analyst estimates of $661.73 million. During the same period in the prior year, the firm posted $0.22 EPS. The company’s quarterly revenue was down 10.8% on a year-over-year basis. Equities analysts expect that Algonquin Power & Utilities Corp. will post 0.49 earnings per share for the current year.

Algonquin Power & Utilities Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.1085 dividend. This represents a $0.43 dividend on an annualized basis and a dividend yield of 7.32%. The ex-dividend date was Wednesday, March 27th. Algonquin Power & Utilities’s dividend payout ratio is currently 1,433.33%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AQN shares. BMO Capital Markets raised shares of Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $7.00 to $7.50 in a report on Monday, January 8th. National Bankshares decreased their price target on shares of Algonquin Power & Utilities from $7.50 to $7.25 and set a “sector perform” rating on the stock in a report on Tuesday, January 9th. StockNews.com raised shares of Algonquin Power & Utilities to a “sell” rating in a report on Wednesday. Desjardins raised shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating and boosted their target price for the stock from $4.75 to $5.75 in a report on Monday, March 11th. Finally, TD Securities boosted their target price on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “hold” rating in a report on Monday, March 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.78.

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.