A. D. Beadell Investment Counsel Inc. Grows Stock Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

A. D. Beadell Investment Counsel Inc. grew its position in Algonquin Power & Utilities Corp. (NYSE:AQN) by 158.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 88,400 shares of the utilities provider’s stock after buying an additional 54,200 shares during the period. A. D. Beadell Investment Counsel Inc.’s holdings in Algonquin Power & Utilities were worth $393,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AQN. Commonwealth Equity Services LLC grew its holdings in Algonquin Power & Utilities by 9.0% in the second quarter. Commonwealth Equity Services LLC now owns 315,744 shares of the utilities provider’s stock worth $1,850,000 after purchasing an additional 26,074 shares during the last quarter. Natixis Advisors LLC purchased a new position in Algonquin Power & Utilities during the 2nd quarter worth $689,000. Headlands Technologies LLC acquired a new position in Algonquin Power & Utilities during the 2nd quarter valued at about $141,000. American Century Companies Inc. raised its stake in Algonquin Power & Utilities by 173.4% in the second quarter. American Century Companies Inc. now owns 209,546 shares of the utilities provider’s stock valued at $1,231,000 after buying an additional 132,900 shares during the last quarter. Finally, Rock Point Advisors LLC boosted its holdings in Algonquin Power & Utilities by 69.7% in the second quarter. Rock Point Advisors LLC now owns 797,539 shares of the utilities provider’s stock worth $4,674,000 after acquiring an additional 327,520 shares in the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Stock Performance

Shares of AQN traded down $0.17 during mid-day trading on Friday, reaching $4.30. The company had a trading volume of 3,009,941 shares, compared to its average volume of 6,991,163. The stock has a 50 day moving average of $4.65 and a two-hundred day moving average of $5.24. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $3.30 billion, a P/E ratio of -3.33 and a beta of 0.69. Algonquin Power & Utilities Corp. has a 52-week low of $4.25 and a 52-week high of $6.79.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The firm had revenue of $573.20 million for the quarter, compared to analyst estimates of $620.46 million. During the same period in the previous year, the business earned $0.11 EPS. Algonquin Power & Utilities’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, analysts expect that Algonquin Power & Utilities Corp. will post 0.39 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.065 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.26 dividend on an annualized basis and a yield of 6.05%. Algonquin Power & Utilities’s payout ratio is -20.16%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $7.00 price objective on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. CIBC decreased 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 dropped their price objective on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 target price on shares of Algonquin Power & Utilities in a research note on Friday, October 11th. Finally, Wells Fargo & Company dropped their price target on Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.13.

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.