Vanguard Group Inc. raised its stake in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,510,928 shares of the utilities provider's stock after buying an additional 544,198 shares during the period. Vanguard Group Inc. owned approximately 4.11% of Algonquin Power & Utilities worth $139,845,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of AQN. Private Management Group Inc. boosted its position in Algonquin Power & Utilities by 161.2% during the 4th quarter. Private Management Group Inc. now owns 5,924,983 shares of the utilities provider's stock worth $26,366,000 after acquiring an additional 3,656,840 shares during the period. Alberta Investment Management Corp lifted its position in shares of Algonquin Power & Utilities by 8.7% in the fourth quarter. Alberta Investment Management Corp now owns 5,052,789 shares of the utilities provider's stock worth $22,458,000 after purchasing an additional 402,500 shares in the last quarter. State Street Corp grew its position in Algonquin Power & Utilities by 11.7% during the third quarter. State Street Corp now owns 2,536,900 shares of the utilities provider's stock valued at $13,991,000 after purchasing an additional 266,500 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Algonquin Power & Utilities by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,303,614 shares of the utilities provider's stock valued at $10,219,000 after buying an additional 92,373 shares during the period. Finally, Krilogy Financial LLC lifted its position in Algonquin Power & Utilities by 116.7% in the 4th quarter. Krilogy Financial LLC now owns 1,621,045 shares of the utilities provider's stock worth $7,214,000 after buying an additional 873,045 shares in the last quarter. 62.28% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on AQN. 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. Scotiabank upped their target price on Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. Finally, National Bankshares cut 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 issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $5.94.
Get Our Latest Stock Analysis on AQN
Algonquin Power & Utilities Stock Up 3.6 %
Shares of NYSE AQN traded up $0.18 during mid-day trading on Friday, reaching $5.06. 10,597,633 shares of the company traded hands, compared to its average volume of 7,229,305. The company's fifty day moving average is $4.90 and its two-hundred day moving average is $4.79. Algonquin Power & Utilities Corp. has a fifty-two week low of $4.19 and a fifty-two week high of $6.79. 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 cap of $3.88 billion, a PE ratio of -3.92 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 EPS 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 company had revenue of $584.80 million for the quarter, compared to analyst estimates of $644.73 million. On average, analysts expect that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current year.
Algonquin Power & Utilities Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 5.14%. The ex-dividend date of this dividend is Monday, March 31st. Algonquin Power & Utilities's dividend payout ratio is -14.44%.
Algonquin Power & Utilities Company 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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