222,429 Shares in Algonquin Power & Utilities Corp. (NYSE:AQN) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 222,429 shares of the utilities provider's stock, valued at approximately $990,000.

A number of other large investors have also recently made changes to their positions in AQN. Krilogy Financial LLC boosted its holdings in Algonquin Power & Utilities by 116.7% in the fourth quarter. Krilogy Financial LLC now owns 1,621,045 shares of the utilities provider's stock worth $7,214,000 after purchasing an additional 873,045 shares during the last quarter. CWA Asset Management Group LLC bought a new position in shares of Algonquin Power & Utilities during the 4th quarter valued at $905,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Algonquin Power & Utilities by 10.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,211,241 shares of the utilities provider's stock worth $12,095,000 after buying an additional 206,490 shares during the last quarter. Manning & Napier Advisors LLC grew its holdings in shares of Algonquin Power & Utilities by 25.0% in the fourth quarter. Manning & Napier Advisors LLC now owns 1,250,000 shares of the utilities provider's stock worth $5,562,000 after acquiring an additional 250,000 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Algonquin Power & Utilities by 12.3% in the third quarter. Geode Capital Management LLC now owns 1,179,465 shares of the utilities provider's stock worth $7,808,000 after acquiring an additional 128,806 shares during the period. 62.28% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several research analysts have issued reports on AQN shares. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. National Bankshares dropped their price objective on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating on the stock in a report on Tuesday, February 11th. Scotiabank upped their target price on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a "sector perform" rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada dropped their price target on shares of 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Algonquin Power & Utilities has an average rating of "Hold" and an average target price of $5.94.

Algonquin Power & Utilities Price Performance

Shares of Algonquin Power & Utilities stock traded up $0.37 on Wednesday, hitting $4.93. 25,924,216 shares of the company traded hands, compared to its average volume of 7,155,198. Algonquin Power & Utilities Corp. has a 52 week low of $4.19 and a 52 week high of $6.79. The business has a 50-day simple moving average of $4.88 and a 200 day simple moving average of $4.80. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. The stock has a market capitalization of $3.78 billion, a P/E ratio of -3.82 and a beta of 0.65.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $644.73 million. Research analysts expect that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date of this dividend is Monday, March 31st. Algonquin Power & Utilities's payout ratio is presently -14.44%.

Algonquin Power & Utilities Company 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.