UBS Group AG Sells 792,734 Shares of Algonquin Power & Utilities Corp. $AQN

UBS Group AG decreased its position in Algonquin Power & Utilities Corp. (NYSE:AQN) by 26.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,168,586 shares of the utilities provider’s stock after selling 792,734 shares during the period. UBS Group AG’s holdings in Algonquin Power & Utilities were worth $13,337,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. EdgePoint Investment Group Inc. raised its stake in Algonquin Power & Utilities by 8.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 61,652,676 shares of the utilities provider’s stock worth $331,292,000 after buying an additional 4,888,235 shares during the period. Vanguard Group Inc. increased its holdings in shares of Algonquin Power & Utilities by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 34,456,155 shares of the utilities provider’s stock worth $211,871,000 after acquiring an additional 711,569 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Algonquin Power & Utilities by 12.5% in the third quarter. Bank of Montreal Can now owns 16,830,890 shares of the utilities provider’s stock worth $90,441,000 after acquiring an additional 1,863,459 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Algonquin Power & Utilities by 65.0% during the first quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock worth $62,738,000 after purchasing an additional 4,808,539 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Algonquin Power & Utilities by 22.4% during the third quarter. Dimensional Fund Advisors LP now owns 7,306,376 shares of the utilities provider’s stock worth $39,236,000 after purchasing an additional 1,336,070 shares during the period. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Trading Down 0.6%

NYSE:AQN opened at $5.88 on Friday. The company has a market cap of $4.52 billion, a P/E ratio of 26.71 and a beta of 0.74. Algonquin Power & Utilities Corp. has a twelve month low of $5.32 and a twelve month high of $7.11. The business has a 50 day moving average price of $6.28 and a two-hundred day moving average price of $6.26. The company has a quick ratio of 0.82, a current ratio of 1.05 and a debt-to-equity ratio of 1.26.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $713.69 million for the quarter, compared to the consensus estimate of $713.69 million. Algonquin Power & Utilities had a net margin of 6.62% and a return on equity of 5.21%. During the same period last year, the company earned $0.14 earnings per share. As a group, analysts expect that Algonquin Power & Utilities Corp. will post 0.37 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 4.4%. The ex-dividend date is Tuesday, June 30th. Algonquin Power & Utilities’s payout ratio is presently 118.18%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AQN shares. Desjardins decreased their price objective on Algonquin Power & Utilities from $7.25 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 9th. Wells Fargo & Company started coverage on shares of Algonquin Power & Utilities in a report on Tuesday. They issued an “equal weight” rating and a $7.00 price target for the company. Zacks Research downgraded shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. National Bank Financial cut their price objective on shares of Algonquin Power & Utilities from $7.50 to $7.25 and set an “outperform” rating on the stock in a research report on Monday, March 9th. Finally, Raymond James Financial raised shares of Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $6.50 to $7.25 in a research note on Monday, March 9th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Algonquin Power & Utilities has a consensus rating of “Hold” and an average price target of $6.77.

Algonquin Power & Utilities Profile

Algonquin Power & Utilities Corp (NYSE: AQN) is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.

The company’s renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.