Toroso Investments LLC Purchases 19,883 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Toroso Investments LLC lifted its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 23.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,037 shares of the utilities provider’s stock after acquiring an additional 19,883 shares during the period. Toroso Investments LLC’s holdings in Algonquin Power & Utilities were worth $882,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Algonquin Power & Utilities during the 4th quarter worth $107,390,000. Cooper Creek Partners Management LLC acquired a new stake in shares of Algonquin Power & Utilities during the first quarter valued at about $44,145,000. Bank of America Corp DE increased its stake in shares of Algonquin Power & Utilities by 100.1% in the first quarter. Bank of America Corp DE now owns 9,214,388 shares of the utilities provider’s stock valued at $77,401,000 after buying an additional 4,608,458 shares during the period. Davidson Kempner Capital Management LP bought a new position in Algonquin Power & Utilities in the 1st quarter valued at approximately $33,638,000. Finally, Samlyn Capital LLC acquired a new stake in Algonquin Power & Utilities during the 1st quarter worth approximately $33,301,000. Institutional investors and hedge funds own 52.12% of the company’s stock.

Algonquin Power & Utilities Trading Down 1.2 %

NYSE AQN opened at $7.12 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.14. The business has a fifty day simple moving average of $7.64 and a 200 day simple moving average of $8.09. Algonquin Power & Utilities Corp. has a 12 month low of $6.41 and a 12 month high of $13.24. The firm has a market capitalization of $4.90 billion, a P/E ratio of -18.72, a PEG ratio of 4.32 and a beta of 0.50.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings results on Thursday, August 10th. The utilities provider reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). Algonquin Power & Utilities had a positive return on equity of 5.99% and a negative net margin of 8.96%. The firm had revenue of $627.30 million for the quarter, compared to analysts’ expectations of $611.83 million. During the same quarter last year, the firm posted $0.16 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. On average, analysts predict that Algonquin Power & Utilities Corp. will post 0.55 EPS for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Thursday, September 28th will be issued a dividend of $0.108 per share. The ex-dividend date is Wednesday, September 27th. This represents a $0.43 dividend on an annualized basis and a yield of 6.07%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently -113.16%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AQN shares. Royal Bank of Canada reduced their price objective on shares of Algonquin Power & Utilities from $9.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 14th. CSFB cut their price objective on Algonquin Power & Utilities from $10.50 to $10.00 and set an “outperform” rating on the stock in a research note on Monday, July 24th. Scotiabank lowered their price target on shares of Algonquin Power & Utilities from $9.00 to $8.00 and set a “sector perform” rating for the company in a report on Monday. StockNews.com initiated coverage on shares of Algonquin Power & Utilities in a research note on Thursday, August 17th. They issued a “sell” rating on the stock. Finally, BMO Capital Markets dropped their target price on shares of Algonquin Power & Utilities from $8.50 to $8.00 and set a “market perform” rating on the stock in a report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.90.

Algonquin Power & Utilities Profile

Algonquin Power & Utilities Corp., a renewable energy and utility company, that provides energy and water solutions and services in North America and internationally. The company operates through two segments, Regulated Services Group and Renewable Energy Group. The Regulated Services Group segment provides a portfolio of rate-regulated water, electricity, and gas utility services.