Congress Wealth Management LLC DE Sells 73,159 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Congress Wealth Management LLC DE decreased its holdings in Algonquin Power & Utilities Corp. (NYSE:AQN) by 54.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,315 shares of the utilities provider’s stock after selling 73,159 shares during the period. Congress Wealth Management LLC DE’s holdings in Algonquin Power & Utilities were worth $268,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Algonquin Power & Utilities by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 31,510,928 shares of the utilities provider’s stock valued at $139,845,000 after purchasing an additional 544,198 shares during the last quarter. EdgePoint Investment Group Inc. lifted its position in Algonquin Power & Utilities by 5.1% in the third quarter. EdgePoint Investment Group Inc. now owns 17,190,084 shares of the utilities provider’s stock worth $93,918,000 after buying an additional 832,739 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Algonquin Power & Utilities by 45.5% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,959,770 shares of the utilities provider’s stock worth $70,806,000 after buying an additional 4,054,711 shares during the period. Private Management Group Inc. increased its position in Algonquin Power & Utilities by 161.2% during the fourth quarter. Private Management Group Inc. now owns 5,924,983 shares of the utilities provider’s stock valued at $26,366,000 after acquiring an additional 3,656,840 shares during the last quarter. Finally, Alberta Investment Management Corp raised its stake in shares of Algonquin Power & Utilities by 8.7% in the fourth quarter. Alberta Investment Management Corp now owns 5,052,789 shares of the utilities provider’s stock valued at $22,458,000 after acquiring an additional 402,500 shares during the period. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Price Performance

AQN opened at $5.20 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. The business’s fifty day simple moving average is $4.78 and its 200-day simple moving average is $4.83. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of -4.03 and a beta of 0.71. Algonquin Power & Utilities Corp. has a 12-month low of $4.19 and a 12-month high of $6.79.

Algonquin Power & Utilities (NYSE:AQN) last posted its earnings results on Friday, March 7th. The utilities provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The business had revenue of $584.80 million for the quarter, compared to analysts’ expectations of $644.73 million. On average, equities research analysts anticipate that Algonquin Power & Utilities Corp. 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 will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date is Monday, March 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is -14.44%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AQN. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $7.00 price target on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. Royal Bank of Canada cut their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating on the stock in a research note on Tuesday, February 18th. National Bankshares reduced their price target on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Finally, Scotiabank boosted their price objective on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Algonquin Power & Utilities has a consensus rating of “Hold” and a consensus target price of $5.94.

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.