Samalin Investment Counsel LLC Has $442,000 Stock Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

Samalin Investment Counsel LLC decreased its stake in Algonquin Power & Utilities Corp. (NYSE:AQN) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,269 shares of the utilities provider’s stock after selling 4,339 shares during the period. Samalin Investment Counsel LLC’s holdings in Algonquin Power & Utilities were worth $442,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capstone Investment Advisors LLC bought a new stake in Algonquin Power & Utilities during the 3rd quarter worth $58,000. Walleye Capital LLC acquired a new stake in shares of Algonquin Power & Utilities during the third quarter valued at about $59,000. SVB Wealth LLC bought a new stake in shares of Algonquin Power & Utilities during the fourth quarter worth about $49,000. Avantax Advisory Services Inc. acquired a new position in shares of Algonquin Power & Utilities in the fourth quarter valued at approximately $58,000. Finally, Raymond James Trust N.A. raised its holdings in Algonquin Power & Utilities by 33.4% in the 3rd quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider’s stock valued at $73,000 after buying an additional 3,343 shares during the last quarter. Institutional investors and hedge funds own 62.28% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AQN shares. 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. National Bankshares lowered their target price on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Scotiabank upped their price target on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada decreased their price target on Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.94.

Algonquin Power & Utilities Stock Performance

Shares of AQN stock opened at $5.13 on Monday. Algonquin Power & Utilities Corp. has a 12 month low of $4.19 and a 12 month high of $6.79. The firm has a market capitalization of $3.93 billion, a PE ratio of -3.97 and a beta of 0.71. The firm has a fifty day simple moving average of $4.70 and a two-hundred day simple moving average of $4.83. 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 (NYSE:AQN) last released its quarterly earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share (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 company had revenue of $584.80 million for the quarter, compared to analyst estimates of $644.73 million. Analysts forecast that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.065 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.26 annualized dividend and a yield of 5.07%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is -14.44%.

Algonquin Power & Utilities Profile

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.