Shell Asset Management Co. Reduces Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

Shell Asset Management Co. lessened its stake in Algonquin Power & Utilities Corp. (NYSE:AQNFree Report) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,345 shares of the utilities provider’s stock after selling 5,120 shares during the quarter. Shell Asset Management Co.’s holdings in Algonquin Power & Utilities were worth $971,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Power Corp of Canada purchased a new position in shares of Algonquin Power & Utilities in the 1st quarter valued at about $31,000. Captrust Financial Advisors increased its holdings in shares of Algonquin Power & Utilities by 66.4% in the 2nd quarter. Captrust Financial Advisors now owns 3,526 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 1,407 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Algonquin Power & Utilities in the 3rd quarter valued at about $28,000. BNP Paribas Arbitrage SA purchased a new position in shares of Algonquin Power & Utilities in the 2nd quarter valued at about $88,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of Algonquin Power & Utilities in the 1st quarter valued at about $157,000. Hedge funds and other institutional investors own 52.12% of the company’s stock.

Algonquin Power & Utilities Price Performance

AQN opened at $5.78 on Friday. The company’s 50 day simple moving average is $6.21 and its 200 day simple moving average is $6.42. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.50 and a current ratio of 0.66. Algonquin Power & Utilities Corp. has a 1 year low of $4.90 and a 1 year high of $9.14. The stock has a market capitalization of $3.98 billion, a PE ratio of -16.51 and a beta of 0.67.

Algonquin Power & Utilities (NYSE:AQNGet Free Report) last released its earnings results on Friday, November 10th. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). Algonquin Power & Utilities had a positive return on equity of 6.13% and a negative net margin of 8.35%. The company had revenue of $624.70 million during the quarter, compared to analyst estimates of $643.87 million. During the same period in the prior year, the business posted $0.11 earnings per share. Algonquin Power & Utilities’s revenue was down 6.0% on a year-over-year basis. As a group, sell-side analysts expect that Algonquin Power & Utilities Corp. will post 0.51 EPS for the current year.

Analyst Upgrades and Downgrades

AQN has been the subject of several recent research reports. CIBC raised their target price on shares of Algonquin Power & Utilities from $7.00 to $7.50 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Scotiabank raised their target price on shares of Algonquin Power & Utilities from $7.00 to $7.50 and gave the company a “sector perform” rating in a report on Wednesday, January 24th. BMO Capital Markets upgraded shares of Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and raised their target price for the company from $7.00 to $7.50 in a report on Monday, January 8th. Desjardins dropped their target price on shares of Algonquin Power & Utilities from $6.50 to $4.75 and set a “sell” rating for the company in a report on Wednesday, October 25th. Finally, TD Securities dropped their target price on shares of Algonquin Power & Utilities from $8.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Algonquin Power & Utilities currently has an average rating of “Hold” and an average price target of $7.70.

View Our Latest Stock Analysis on AQN

Algonquin Power & Utilities Company Profile

(Free Report)

Algonquin Power & Utilities Corp., a renewable energy and utility company, that provides energy and water solutions and services in North America and internationally. The company operates through two segments, Regulated Services Group and Renewable Energy Group. The Regulated Services Group segment provides a portfolio of rate-regulated water, electricity, and gas utility services.

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Institutional Ownership by Quarter for Algonquin Power & Utilities (NYSE:AQN)

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