Healthcare of Ontario Pension Plan Trust Fund Sells 6,024 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Healthcare of Ontario Pension Plan Trust Fund reduced its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,545,712 shares of the utilities provider’s stock after selling 6,024 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Algonquin Power & Utilities were worth $8,446,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Central Pacific Bank Trust Division bought a new position in shares of Algonquin Power & Utilities during the third quarter valued at about $54,000. Claro Advisors LLC bought a new stake in Algonquin Power & Utilities in the second quarter worth about $61,000. SeaCrest Wealth Management LLC bought a new stake in Algonquin Power & Utilities in the second quarter worth about $66,000. Verdence Capital Advisors LLC bought a new stake in Algonquin Power & Utilities in the third quarter worth about $61,000. Finally, Raymond James Trust N.A. raised its position in Algonquin Power & Utilities by 33.4% in the third quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider’s stock worth $73,000 after acquiring an additional 3,343 shares during the period. 62.28% of the stock is owned by institutional investors.

Algonquin Power & Utilities Price Performance

Shares of NYSE:AQN opened at $4.95 on Friday. The company has a 50 day moving average of $5.02 and a 200 day moving average of $5.58. The stock has a market cap of $3.80 billion, a P/E ratio of -3.84 and a beta of 0.68. Algonquin Power & Utilities Corp. has a 12 month low of $4.67 and a 12 month high of $6.79. 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 issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The firm had revenue of $573.20 million for the quarter, compared to analysts’ expectations of $620.46 million. During the same period in the prior year, the firm posted $0.11 EPS. Algonquin Power & Utilities’s revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that Algonquin Power & Utilities Corp. will post 0.39 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, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.26 dividend on an annualized basis and a yield of 5.25%. Algonquin Power & Utilities’s dividend payout ratio is presently -20.15%.

Analysts Set New Price Targets

AQN has been the topic of several research reports. Raymond James lowered shares of Algonquin Power & Utilities from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $7.75 to $7.00 in a research report on Monday, August 12th. 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 research report on Monday, August 12th. Wells Fargo & Company lowered their price target on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 price target on shares of Algonquin Power & Utilities in a research report on Friday, October 11th. Finally, Janney Montgomery Scott started coverage on shares of Algonquin Power & Utilities in a research report on Thursday, September 5th. They issued a “neutral” rating and a $6.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Algonquin Power & Utilities presently has an average rating of “Hold” and an average target price of $6.18.

Algonquin Power & Utilities Company 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.