Algonquin Power & Utilities Corp. (NYSE:AQN) Short Interest Up 14.5% in October

Algonquin Power & Utilities Corp. (NYSE:AQN - Get Free Report) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 19,380,000 shares, an increase of 14.5% from the October 15th total of 16,920,000 shares. Based on an average daily volume of 6,070,000 shares, the short-interest ratio is presently 3.2 days. Currently, 2.5% of the company's stock are short sold.

Algonquin Power & Utilities Stock Performance

NYSE:AQN remained flat at $4.82 during mid-day trading on Monday. The company had a trading volume of 4,262,841 shares, compared to its average volume of 5,624,396. The stock's fifty day moving average price is $5.14 and its 200-day moving average price is $5.69. The stock has a market cap of $3.70 billion, a PE ratio of -3.74 and a beta of 0.68. Algonquin Power & Utilities has a 1-year low of $4.67 and a 1-year high of $6.79. 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 announced its earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The business had revenue of $573.20 million during the quarter, compared to the consensus estimate of $620.46 million. During the same period in the previous year, the firm posted $0.11 EPS. The company's revenue was up 1.5% compared to the same quarter last year. On average, analysts predict that Algonquin Power & Utilities will post 0.4 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.39%. Algonquin Power & Utilities's payout ratio is presently -20.16%.

Analyst Ratings Changes

Several research firms recently weighed in on AQN. Wells Fargo & Company decreased 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 note on Wednesday, October 16th. Royal Bank of Canada restated a "sector perform" rating and set a $6.00 price objective on shares of Algonquin Power & Utilities in a research note on Friday, October 11th. National Bank Financial raised shares of Algonquin Power & Utilities from a "hold" rating to a "strong-buy" rating in a report on Monday, August 12th. CIBC reduced their price target on Algonquin Power & Utilities from $5.75 to $5.50 and set a "neutral" rating for the company in a report on Tuesday, October 22nd. Finally, Raymond James lowered Algonquin Power & Utilities from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $7.75 to $7.00 in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $6.18.

Institutional Investors Weigh In On Algonquin Power & Utilities

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its stake in Algonquin Power & Utilities by 320.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,273,228 shares of the utilities provider's stock worth $42,633,000 after acquiring an additional 5,544,063 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of 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 worth $52,341,000 after purchasing an additional 5,426,523 shares during the period. Jane Street Group LLC raised its stake in Algonquin Power & Utilities by 851.0% in the first quarter. Jane Street Group LLC now owns 3,765,026 shares of the utilities provider's stock valued at $23,797,000 after purchasing an additional 3,369,124 shares in the last quarter. Private Management Group Inc. bought a new stake in Algonquin Power & Utilities during the third quarter worth about $12,361,000. Finally, Yaupon Capital Management LP bought a new position in Algonquin Power & Utilities in the 3rd quarter valued at about $11,997,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities Company 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.