Capstone Investment Advisors LLC Makes New $58,000 Investment in Algonquin Power & Utilities Corp. (NYSE:AQN)

Capstone Investment Advisors LLC acquired a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 10,690 shares of the utilities provider’s stock, valued at approximately $58,000.

Other large investors also recently made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new position in Algonquin Power & Utilities in the 3rd quarter worth $54,000. Claro Advisors LLC bought a new position in shares of Algonquin Power & Utilities during the second quarter worth about $61,000. Walleye Capital LLC acquired a new stake in Algonquin Power & Utilities in the 3rd quarter valued at approximately $59,000. SeaCrest Wealth Management LLC acquired a new stake in Algonquin Power & Utilities in the 2nd quarter valued at approximately $66,000. Finally, Verdence Capital Advisors LLC bought a new stake in Algonquin Power & Utilities in the 3rd quarter valued at approximately $61,000. Institutional investors own 62.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on AQN. Desjardins lowered their price objective on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating on the stock in a report on Monday, August 12th. Scotiabank lowered their price target on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Janney Montgomery Scott began coverage on shares of Algonquin Power & Utilities in a research note on Thursday, September 5th. They set a “neutral” rating and a $6.00 price objective for the company. National Bank Financial raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Raymond James cut Algonquin Power & Utilities from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $7.75 to $7.00 in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.18.

Algonquin Power & Utilities Stock Up 1.4 %

AQN opened at $4.95 on Monday. The stock’s fifty day simple moving average is $5.02 and its 200 day simple moving average is $5.56. Algonquin Power & Utilities Corp. has a 1-year low of $4.67 and a 1-year high of $6.79. The stock has a market cap of $3.80 billion, a PE ratio of -3.84 and a beta of 0.68. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17.

Algonquin Power & Utilities (NYSE:AQN) last posted its earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The company had revenue of $573.20 million for the quarter, compared to analyst estimates of $620.46 million. During the same quarter in the prior year, the business posted $0.11 EPS. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, research analysts expect that Algonquin Power & Utilities Corp. will post 0.39 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.25%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently -20.15%.

Algonquin Power & Utilities Profile

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.