Vanguard Personalized Indexing Management LLC Has $511,000 Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

Vanguard Personalized Indexing Management LLC boosted its stake in Algonquin Power & Utilities Corp. (NYSE:AQN) by 12.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,019 shares of the utilities provider’s stock after purchasing an additional 9,717 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Algonquin Power & Utilities were worth $511,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Parallel Advisors LLC boosted its position in shares of Algonquin Power & Utilities by 76.3% during the 4th quarter. Parallel Advisors LLC now owns 4,347 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 1,882 shares in the last quarter. Claro Advisors LLC bought a new position in Algonquin Power & Utilities in the second quarter worth approximately $61,000. SeaCrest Wealth Management LLC acquired a new stake in Algonquin Power & Utilities in the second quarter valued at approximately $66,000. Larson Financial Group LLC bought a new stake in shares of Algonquin Power & Utilities during the first quarter valued at approximately $76,000. Finally, SVB Wealth LLC acquired a new position in shares of Algonquin Power & Utilities during the first quarter worth approximately $82,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on AQN shares. CIBC lowered their price objective on shares of Algonquin Power & Utilities from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Royal Bank of Canada dropped their price target on shares of Algonquin Power & Utilities from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 13th. Janney Montgomery Scott assumed coverage on Algonquin Power & Utilities in a report on Thursday, September 5th. They set a “neutral” rating and a $6.00 price objective for the company. Scotiabank lowered their price objective on Algonquin Power & Utilities from $6.50 to $5.75 and set a “sector perform” rating for the company in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company cut Algonquin Power & Utilities from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $8.50 to $6.00 in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Algonquin Power & Utilities has an average rating of “Hold” and a consensus price target of $6.33.

Algonquin Power & Utilities Stock Performance

NYSE AQN opened at $5.44 on Friday. The company has a market capitalization of $4.17 billion, a PE ratio of -11.10 and a beta of 0.67. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.78 and a current ratio of 0.97. Algonquin Power & Utilities Corp. has a 52-week low of $4.90 and a 52-week high of $6.79. The company has a 50-day simple moving average of $5.58 and a 200 day simple moving average of $5.96.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 5.36%. The company had revenue of $598.60 million during the quarter, compared to analyst estimates of $635.95 million. During the same quarter last year, the business posted $0.08 EPS. Algonquin Power & Utilities’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, research analysts predict that Algonquin Power & Utilities Corp. will post 0.43 EPS for the current year.

Algonquin Power & Utilities Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.26 annualized dividend and a dividend yield of 4.78%. Algonquin Power & Utilities’s payout ratio is -53.06%.

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.