Crossmark Global Holdings Inc. Sells 25,987 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Crossmark Global Holdings Inc. lowered its holdings in Algonquin Power & Utilities Corp. (NYSE:AQN) by 33.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,029 shares of the utilities provider’s stock after selling 25,987 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Algonquin Power & Utilities were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AQN. Krilogy Financial LLC increased its holdings in Algonquin Power & Utilities by 0.3% in the 2nd quarter. Krilogy Financial LLC now owns 707,000 shares of the utilities provider’s stock worth $4,143,000 after buying an additional 1,800 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Algonquin Power & Utilities by 14.1% during the third quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider’s stock valued at $97,000 after purchasing an additional 2,201 shares during the last quarter. Hennessy Advisors Inc. lifted its position in Algonquin Power & Utilities by 4.1% during the second quarter. Hennessy Advisors Inc. now owns 108,564 shares of the utilities provider’s stock valued at $636,000 after purchasing an additional 4,300 shares during the period. EverSource Wealth Advisors LLC lifted its position in Algonquin Power & Utilities by 25.7% during the second quarter. EverSource Wealth Advisors LLC now owns 28,704 shares of the utilities provider’s stock valued at $179,000 after purchasing an additional 5,863 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in Algonquin Power & Utilities by 5.0% in the first quarter. Advisors Asset Management Inc. now owns 139,213 shares of the utilities provider’s stock worth $880,000 after purchasing an additional 6,642 shares during the last quarter. 62.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AQN has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Janney Montgomery Scott assumed coverage on Algonquin Power & Utilities in a research report on Thursday, September 5th. They set a “neutral” rating and a $6.00 price objective for the company. Scotiabank dropped their target price on Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Desjardins reduced their price target on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating for the company in a research report on Monday, August 12th. Finally, National Bank Financial raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.18.

Algonquin Power & Utilities Trading Up 0.2 %

Shares of NYSE:AQN opened at $4.82 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. Algonquin Power & Utilities Corp. has a 12-month low of $4.67 and a 12-month high of $6.79. The company has a market cap of $3.70 billion, a PE ratio of -3.74 and a beta of 0.68. The stock has a 50 day moving average of $5.14 and a 200 day moving average of $5.69.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The firm had revenue of $573.20 million for the quarter, compared to the consensus estimate of $620.46 million. During the same quarter in the previous year, the business earned $0.11 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities research analysts expect that Algonquin Power & Utilities Corp. will post 0.4 EPS for the current year.

Algonquin Power & Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date of this dividend is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is -20.16%.

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.