Aigen Investment Management LP acquired a new stake in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 58,931 shares of the utilities provider's stock, valued at approximately $262,000.
Several other institutional investors have also recently added to or reduced their stakes in AQN. Private Advisor Group LLC grew its holdings in Algonquin Power & Utilities by 14.1% in the 3rd quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider's stock valued at $97,000 after buying an additional 2,201 shares during the period. Van ECK Associates Corp purchased a new stake in Algonquin Power & Utilities in the third quarter valued at approximately $1,058,000. Fiera Capital Corp acquired a new position in Algonquin Power & Utilities during the third quarter worth approximately $96,000. Verdence Capital Advisors LLC acquired a new position in Algonquin Power & Utilities during the third quarter worth approximately $61,000. Finally, Entropy Technologies LP acquired a new position in shares of Algonquin Power & Utilities in the 3rd quarter valued at $1,034,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.
Algonquin Power & Utilities Stock Up 2.4 %
NYSE AQN traded up $0.12 on Wednesday, reaching $4.83. The company had a trading volume of 16,472,087 shares, compared to its average volume of 10,365,965. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. Algonquin Power & Utilities Corp. has a 1 year low of $4.19 and a 1 year high of $6.79. The firm has a 50-day moving average of $4.60 and a 200-day moving average of $4.85. The firm has a market capitalization of $3.70 billion, a PE ratio of -3.74 and a beta of 0.71.
Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $584.80 million during 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 EPS for the current fiscal year.
Algonquin Power & Utilities Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date of this dividend is Monday, March 31st. Algonquin Power & Utilities's payout ratio is -14.44%.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on AQN shares. Scotiabank upped their price objective on Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. Royal Bank of Canada dropped 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. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $7.00 price objective on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. Finally, National Bankshares dropped their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $5.94.
Check Out Our Latest Report on Algonquin Power & Utilities
About Algonquin Power & Utilities
(
Free Report)
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.
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