Euro Pacific Asset Management LLC Sells 8,704 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Euro Pacific Asset Management LLC decreased its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 354,781 shares of the utilities provider’s stock after selling 8,704 shares during the period. Euro Pacific Asset Management LLC’s holdings in Algonquin Power & Utilities were worth $1,938,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc lifted its holdings in Algonquin Power & Utilities by 8.6% during the third quarter. CIBC Asset Management Inc now owns 931,474 shares of the utilities provider’s stock valued at $5,092,000 after purchasing an additional 73,587 shares in the last quarter. Entropy Technologies LP bought a new stake in Algonquin Power & Utilities in the third quarter worth $1,034,000. Verdence Capital Advisors LLC purchased a new stake in shares of Algonquin Power & Utilities during the 3rd quarter valued at about $61,000. Fiera Capital Corp purchased a new stake in Algonquin Power & Utilities during the third quarter valued at approximately $96,000. Finally, Van ECK Associates Corp bought a new stake in Algonquin Power & Utilities in the third quarter worth $1,058,000. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Price Performance

Algonquin Power & Utilities stock opened at $4.82 on Friday. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of -3.74 and a beta of 0.68. Algonquin Power & Utilities Corp. has a 52-week low of $4.67 and a 52-week high of $6.79. The company has a fifty day simple moving average of $5.14 and a 200-day simple moving average of $5.70. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17.

Algonquin Power & Utilities (NYSE:AQN) last issued 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). The company had revenue of $573.20 million during the quarter, compared to analyst estimates of $620.46 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business earned $0.11 earnings per share. On average, equities analysts anticipate that Algonquin Power & Utilities Corp. will post 0.4 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

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 given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio is presently -20.15%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wells Fargo & Company cut 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 report on Wednesday, October 16th. CIBC reduced their target price on Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Raymond James downgraded 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 note on Monday, August 12th. Janney Montgomery Scott began coverage on shares of Algonquin Power & Utilities in a report on Thursday, September 5th. They issued a “neutral” rating and a $6.00 price objective on the stock. Finally, National Bank Financial raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.18.

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.