Algonquin Power & Utilities Corp. $AQN Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. reduced its holdings in Algonquin Power & Utilities Corp. (NYSE:AQN) by 42.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,700,005 shares of the utilities provider’s stock after selling 2,771,702 shares during the quarter. Cibc World Market Inc.’s holdings in Algonquin Power & Utilities were worth $22,755,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Public Sector Pension Investment Board lifted its holdings in shares of Algonquin Power & Utilities by 2.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 74,271 shares of the utilities provider’s stock valued at $424,000 after buying an additional 1,800 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of Algonquin Power & Utilities by 1.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 133,733 shares of the utilities provider’s stock valued at $823,000 after buying an additional 1,966 shares during the period. Triasima Portfolio Management inc. lifted its holdings in shares of Algonquin Power & Utilities by 1.4% in the 4th quarter. Triasima Portfolio Management inc. now owns 201,732 shares of the utilities provider’s stock valued at $1,242,000 after buying an additional 2,767 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Algonquin Power & Utilities by 6.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 81,643 shares of the utilities provider’s stock valued at $438,000 after buying an additional 4,840 shares during the period. Finally, Quarry LP purchased a new position in Algonquin Power & Utilities in the 3rd quarter valued at approximately $29,000. 62.28% of the stock is owned by institutional investors and hedge funds.

Algonquin Power & Utilities Stock Performance

Algonquin Power & Utilities stock opened at $6.00 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.87 and a current ratio of 1.05. The stock has a fifty day moving average of $6.12 and a two-hundred day moving average of $6.27. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 27.25 and a beta of 0.71. Algonquin Power & Utilities Corp. has a fifty-two week low of $5.32 and a fifty-two week high of $7.11.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $713.69 million during the quarter, compared to the consensus estimate of $713.69 million. Algonquin Power & Utilities had a return on equity of 5.21% and a net margin of 6.62%.During the same quarter last year, the business posted $0.14 earnings per share. On average, analysts anticipate that Algonquin Power & Utilities Corp. will post 0.36 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.26 annualized dividend and a yield of 4.3%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 118.18%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AQN. Zacks Research downgraded Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Wall Street Zen downgraded Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. National Bank Financial decreased their price objective on shares of Algonquin Power & Utilities from $7.50 to $7.25 and set an “outperform” rating on the stock in a research report on Monday, March 9th. Weiss Ratings upgraded shares of Algonquin Power & Utilities from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, April 21st. Finally, TD Cowen decreased their price objective on shares of Algonquin Power & Utilities from $6.50 to $6.00 and set a “hold” rating on the stock in a research report on Monday, March 9th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Algonquin Power & Utilities currently has a consensus rating of “Moderate Buy” and an average price target of $6.83.

Algonquin Power & Utilities Company Profile

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.