Algonquin Power & Utilities Corp. (NYSE:AQN) Short Interest Up 21.6% in January

Algonquin Power & Utilities Corp. (NYSE:AQN) saw a large growth in short interest in January. As of January 15th, there was short interest totalling 18,570,000 shares, a growth of 21.6% from the December 31st total of 15,270,000 shares. Based on an average daily volume of 5,520,000 shares, the short-interest ratio is currently 3.4 days. Approximately 2.4% of the shares of the stock are sold short.

Hedge Funds Weigh In On Algonquin Power & Utilities

Several institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC grew its holdings in Algonquin Power & Utilities by 100.3% in the 2nd quarter. Squarepoint Ops LLC now owns 56,573 shares of the utilities provider’s stock valued at $332,000 after buying an additional 28,332 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Algonquin Power & Utilities in the second quarter valued at approximately $298,000. B. Riley Wealth Advisors Inc. purchased a new position in Algonquin Power & Utilities during the second quarter worth approximately $144,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Algonquin Power & Utilities by 15.7% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,551,736 shares of the utilities provider’s stock valued at $9,121,000 after purchasing an additional 209,991 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Algonquin Power & Utilities during the 3rd quarter valued at $54,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities Trading Up 2.4 %

Shares of AQN stock opened at $4.45 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The firm has a 50-day moving average price of $4.52 and a 200 day moving average price of $5.05. Algonquin Power & Utilities has a twelve month low of $4.19 and a twelve month high of $6.79.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $620.46 million. During the same period in the prior year, the firm earned $0.11 EPS. The business’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts expect that Algonquin Power & Utilities will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 5.85%. The ex-dividend date of this dividend was Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is -20.15%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. CIBC cut their price target on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Scotiabank reduced their price target on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Wells Fargo & Company lowered their price target on Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $7.00 price objective on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 target price on shares of Algonquin Power & Utilities in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.13.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.