127,000 Shares in Algonquin Power & Utilities Corp. (NYSE:AQN) Bought by O Brien Greene & Co. Inc

O Brien Greene & Co. Inc bought a new stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 127,000 shares of the utilities provider’s stock, valued at approximately $744,000.

Several other institutional investors also recently bought and sold shares of the stock. Krilogy Financial LLC raised its holdings in Algonquin Power & Utilities by 0.3% during the second quarter. Krilogy Financial LLC now owns 707,000 shares of the utilities provider’s stock valued at $4,143,000 after buying an additional 1,800 shares in the last quarter. Parallel Advisors LLC raised its holdings in Algonquin Power & Utilities by 76.3% during the fourth quarter. Parallel Advisors LLC now owns 4,347 shares of the utilities provider’s stock valued at $27,000 after buying an additional 1,882 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Algonquin Power & Utilities by 10.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 21,628 shares of the utilities provider’s stock valued at $137,000 after buying an additional 1,972 shares in the last quarter. Hennessy Advisors Inc. raised its holdings in Algonquin Power & Utilities by 4.1% during the second quarter. Hennessy Advisors Inc. now owns 108,564 shares of the utilities provider’s stock valued at $636,000 after buying an additional 4,300 shares in the last quarter. Finally, Value Partners Investments Inc. raised its holdings in Algonquin Power & Utilities by 31.8% during the first quarter. Value Partners Investments Inc. now owns 18,338 shares of the utilities provider’s stock valued at $116,000 after buying an additional 4,428 shares in the last quarter. 62.28% of the stock is currently owned by institutional investors.

Algonquin Power & Utilities Stock Down 0.3 %

AQN stock opened at $5.52 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.97 and a debt-to-equity ratio of 1.08. The business’s 50-day simple moving average is $5.68 and its 200 day simple moving average is $5.99. The company has a market cap of $4.23 billion, a PE ratio of -11.26 and a beta of 0.67. Algonquin Power & Utilities Corp. has a twelve month low of $4.90 and a twelve month high of $7.23.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Friday, August 9th. The utilities provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $598.60 million for the quarter, compared to the consensus estimate of $635.95 million. Algonquin Power & Utilities had a return on equity of 5.36% and a net margin of 4.70%. The company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.08 earnings per share. On average, research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.43 earnings per share for the current year.

Algonquin Power & Utilities Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Monday, September 30th. Algonquin Power & Utilities’s payout ratio is -53.06%.

Analyst Ratings Changes

Several equities analysts have weighed in on AQN shares. Wells Fargo & Company lowered Algonquin Power & Utilities from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $8.50 to $6.00 in a report on Monday, August 12th. Royal Bank of Canada dropped their price objective on Algonquin Power & Utilities from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 13th. Raymond James lowered Algonquin Power & Utilities from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $7.75 to $7.00 in a research note on Monday, August 12th. Desjardins dropped their price objective on Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating on the stock in a research note on Monday, August 12th. Finally, National Bankshares lifted their price objective on Algonquin Power & Utilities from $6.75 to $7.25 and gave the stock a “sector perform” rating in a research note on Tuesday, May 28th. One 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.33.

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.