DGS Capital Management LLC Acquires Shares of 26,708 Algonquin Power & Utilities Corp. (NYSE:AQN)

DGS Capital Management LLC acquired a new stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 26,708 shares of the utilities provider’s stock, valued at approximately $169,000.

Several other institutional investors have also added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new position in Algonquin Power & Utilities during the fourth quarter valued at approximately $318,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in Algonquin Power & Utilities by 166.5% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,266,810 shares of the utilities provider’s stock valued at $7,997,000 after purchasing an additional 791,410 shares in the last quarter. Vanguard Group Inc. raised its position in Algonquin Power & Utilities by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 25,986,559 shares of the utilities provider’s stock valued at $164,235,000 after purchasing an additional 268,800 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Algonquin Power & Utilities by 754.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 15,552,484 shares of the utilities provider’s stock valued at $98,292,000 after purchasing an additional 13,731,305 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Algonquin Power & Utilities during the fourth quarter valued at approximately $211,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities Stock Performance

Shares of Algonquin Power & Utilities stock opened at $5.98 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. Algonquin Power & Utilities Corp. has a twelve month low of $4.90 and a twelve month high of $8.51. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of -12.20 and a beta of 0.68. The company’s fifty day moving average is $6.24 and its 200 day moving average is $6.16.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings data on Friday, May 10th. The utilities provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $737.10 million during the quarter, compared to the consensus estimate of $813.38 million. Algonquin Power & Utilities had a positive return on equity of 5.39% and a negative net margin of 12.44%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 EPS. Sell-side analysts forecast that Algonquin Power & Utilities Corp. will post 0.46 EPS for the current year.

Algonquin Power & Utilities Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.108 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.43 dividend on an annualized basis and a yield of 7.22%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently -87.76%.

Analyst Ratings Changes

Several brokerages have commented on AQN. StockNews.com upgraded shares of Algonquin Power & Utilities to a “sell” rating in a research report on Friday, May 10th. Desjardins boosted their target price on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “hold” rating in a research note on Thursday, June 6th. National Bankshares boosted their target price on shares of Algonquin Power & Utilities from $6.75 to $7.25 and gave the stock a “sector perform” rating in a research note on Tuesday, May 28th. Wells Fargo & Company boosted their target price on shares of Algonquin Power & Utilities from $8.00 to $8.50 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Finally, TD Securities boosted their target price on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “hold” rating in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Algonquin Power & Utilities presently has a consensus rating of “Hold” and an average target price of $7.47.

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.