Pursue Wealth Partners LLC Purchases Shares of 26,086 Algonquin Power & Utilities Corp. (NYSE:AQN)

Pursue Wealth Partners LLC purchased a new stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 26,086 shares of the utilities provider’s stock, valued at approximately $165,000.

A number of other institutional investors have also bought and sold shares of AQN. Sasco Capital Inc. CT bought a new stake in Algonquin Power & Utilities during the third quarter valued at $18,156,000. Hudson Bay Capital Management LP bought a new position in shares of Algonquin Power & Utilities during the 3rd quarter worth about $8,936,000. Toronto Dominion Bank boosted its position in shares of Algonquin Power & Utilities by 7.9% during the 3rd quarter. Toronto Dominion Bank now owns 13,293,748 shares of the utilities provider’s stock worth $78,699,000 after purchasing an additional 978,758 shares in the last quarter. Invesco Ltd. boosted its position in shares of Algonquin Power & Utilities by 6.6% during the 3rd quarter. Invesco Ltd. now owns 9,881,130 shares of the utilities provider’s stock worth $58,496,000 after purchasing an additional 616,049 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Algonquin Power & Utilities by 313.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 770,885 shares of the utilities provider’s stock worth $4,584,000 after purchasing an additional 584,358 shares in the last quarter. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Stock Down 0.8 %

NYSE:AQN traded down $0.05 on Friday, hitting $6.12. The stock had a trading volume of 4,115,511 shares, compared to its average volume of 4,582,244. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.50 and a current ratio of 0.63. The stock has a market cap of $4.22 billion, a P/E ratio of 204.00 and a beta of 0.66. Algonquin Power & Utilities Corp. has a 1 year low of $4.90 and a 1 year high of $9.14. The firm’s fifty day simple moving average is $6.05 and its two-hundred day simple moving average is $5.99.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Friday, March 8th. The utilities provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $666.90 million during the quarter, compared to analyst estimates of $661.73 million. Algonquin Power & Utilities had a net margin of 1.06% and a return on equity of 5.64%. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS. Analysts predict that Algonquin Power & Utilities Corp. will post 0.49 earnings per share for the current year.

Algonquin Power & Utilities Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.1085 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.43 annualized dividend and a yield of 7.09%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is 1,433.33%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets raised shares of Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $7.00 to $7.50 in a research report on Monday, January 8th. National Bankshares cut their price objective on shares of Algonquin Power & Utilities from $7.50 to $7.25 and set a “sector perform” rating on the stock in a research report on Tuesday, January 9th. StockNews.com raised shares of Algonquin Power & Utilities to a “sell” rating in a research report on Wednesday, April 17th. Scotiabank lowered their target price on shares of Algonquin Power & Utilities from $7.50 to $6.50 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Finally, CIBC upped their target price on shares of Algonquin Power & Utilities from $7.00 to $7.50 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Algonquin Power & Utilities presently has an average rating of “Hold” and an average target price of $7.67.

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.