Intact Investment Management Inc. lessened its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,329,019 shares of the utilities provider's stock after selling 264,200 shares during the period. Intact Investment Management Inc. owned 0.69% of Algonquin Power & Utilities worth $23,649,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Swiss National Bank grew its holdings in shares of Algonquin Power & Utilities by 0.6% during the fourth quarter. Swiss National Bank now owns 1,441,700 shares of the utilities provider's stock valued at $6,396,000 after purchasing an additional 8,700 shares during the last quarter. Avantax Advisory Services Inc. bought a new position in Algonquin Power & Utilities during the 4th quarter worth $58,000. Natural Investments LLC acquired a new stake in Algonquin Power & Utilities in the fourth quarter worth $106,000. Johnson Investment Counsel Inc. lifted its stake in Algonquin Power & Utilities by 66.7% in the fourth quarter. Johnson Investment Counsel Inc. now owns 40,000 shares of the utilities provider's stock valued at $178,000 after buying an additional 16,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Algonquin Power & Utilities by 20.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 177,815 shares of the utilities provider's stock valued at $789,000 after acquiring an additional 29,832 shares during the period. Institutional investors and hedge funds own 62.28% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on AQN. Royal Bank of Canada dropped their price objective on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating on the stock in a report on Tuesday, February 18th. Scotiabank lifted their price target on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a "sector perform" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $7.00 price objective on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. Finally, National Bankshares decreased their price target on Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating for the company in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $5.94.
Read Our Latest Stock Report on AQN
Algonquin Power & Utilities Price Performance
Shares of Algonquin Power & Utilities stock traded up $0.01 during trading on Tuesday, hitting $5.12. The stock had a trading volume of 6,472,423 shares, compared to its average volume of 6,678,115. The business has a fifty day moving average of $4.64 and a two-hundred day moving average of $4.84. Algonquin Power & Utilities Corp. has a fifty-two week low of $4.19 and a fifty-two week high of $6.79. The firm has a market cap of $3.93 billion, a P/E ratio of -3.97 and a beta of 0.70. 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 (NYSE:AQN - Get Free Report) last issued its quarterly earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.04). The business had revenue of $584.80 million during the quarter, compared to analyst estimates of $644.73 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. On average, sell-side analysts expect that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.
Algonquin Power & Utilities Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.065 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.26 annualized dividend and a yield of 5.08%. Algonquin Power & Utilities's dividend payout ratio (DPR) is -14.44%.
Algonquin Power & Utilities Profile
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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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