Entropy Technologies LP Purchases Shares of 189,700 Algonquin Power & Utilities Corp. (NYSE:AQN)

Entropy Technologies LP acquired a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 189,700 shares of the utilities provider's stock, valued at approximately $1,034,000.

Several other large investors have also bought and sold shares of AQN. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Algonquin Power & Utilities by 156.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 8,905,059 shares of the utilities provider's stock valued at $52,341,000 after acquiring an additional 5,426,523 shares during the last quarter. Troluce Capital Advisors LLC lifted its stake in shares of Algonquin Power & Utilities by 33.3% in the 2nd quarter. Troluce Capital Advisors LLC now owns 2,575,000 shares of the utilities provider's stock valued at $15,090,000 after purchasing an additional 643,352 shares during the period. Vanguard Group Inc. grew its position in shares of Algonquin Power & Utilities by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 26,248,892 shares of the utilities provider's stock worth $165,893,000 after buying an additional 262,333 shares during the period. Triasima Portfolio Management inc. acquired a new stake in Algonquin Power & Utilities in the second quarter worth $3,164,000. Finally, Private Management Group Inc. acquired a new stake in Algonquin Power & Utilities in the 3rd quarter valued at $12,361,000. 62.28% of the stock is owned by institutional investors and hedge funds.

Algonquin Power & Utilities Stock Performance

NYSE:AQN traded up $0.07 during midday trading on Thursday, reaching $4.81. 5,345,312 shares of the company traded hands, compared to its average volume of 5,637,981. The company has a fifty day moving average price of $5.16 and a 200 day moving average price of $5.71. 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 market capitalization of $3.69 billion, a price-to-earnings ratio of -3.72 and a beta of 0.68. Algonquin Power & Utilities Corp. has a twelve month low of $4.67 and a twelve month high of $6.79.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $573.20 million for the quarter, compared to analyst estimates of $620.46 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. Algonquin Power & Utilities's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the firm earned $0.11 earnings per share. On average, analysts expect that Algonquin Power & Utilities Corp. will post 0.4 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.065 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.26 annualized dividend and a yield of 5.41%. Algonquin Power & Utilities's dividend payout ratio (DPR) is -20.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AQN shares. Raymond James cut shares of Algonquin Power & Utilities from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $7.75 to $7.00 in a report on Monday, August 12th. National Bank Financial upgraded Algonquin Power & Utilities from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 12th. Wells Fargo & Company dropped their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an "equal weight" rating for the company in a research report on Wednesday, October 16th. Royal Bank of Canada reiterated a "sector perform" rating and set a $6.00 price target on shares of Algonquin Power & Utilities in a report on Friday, October 11th. Finally, Janney Montgomery Scott began coverage on shares of Algonquin Power & Utilities in a research note on Thursday, September 5th. They set a "neutral" rating and a $6.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Algonquin Power & Utilities currently has an average rating of "Hold" and a consensus price target of $6.18.

Algonquin Power & Utilities 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.