Charles Schwab Investment Management Inc. Has $10.22 Million Stake in Algonquin Power & Utilities Corp. (NYSE:AQN)

Charles Schwab Investment Management Inc. lifted its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,303,614 shares of the utilities provider's stock after purchasing an additional 92,373 shares during the period. Charles Schwab Investment Management Inc. owned 0.30% of Algonquin Power & Utilities worth $10,219,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AQN. Bank of Montreal Can lifted its position in shares of Algonquin Power & Utilities by 6.0% in the third quarter. Bank of Montreal Can now owns 20,882,966 shares of the utilities provider's stock valued at $115,175,000 after buying an additional 1,190,236 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in Algonquin Power & Utilities by 5.1% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 17,190,084 shares of the utilities provider's stock valued at $93,918,000 after purchasing an additional 832,739 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Algonquin Power & Utilities by 45.5% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,959,770 shares of the utilities provider's stock worth $70,806,000 after purchasing an additional 4,054,711 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Algonquin Power & Utilities by 6.1% in the third quarter. The Manufacturers Life Insurance Company now owns 7,720,474 shares of the utilities provider's stock valued at $42,105,000 after purchasing an additional 447,246 shares during the last quarter. Finally, Private Management Group Inc. increased its holdings in shares of Algonquin Power & Utilities by 161.2% in the fourth quarter. Private Management Group Inc. now owns 5,924,983 shares of the utilities provider's stock valued at $26,366,000 after purchasing an additional 3,656,840 shares during the last quarter. Institutional investors and hedge funds own 62.28% of the company's stock.

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Algonquin Power & Utilities Trading Up 1.1 %

Shares of AQN stock traded up $0.06 during mid-day trading on Wednesday, reaching $5.17. 6,824,730 shares of the stock traded hands, compared to its average volume of 6,776,501. The company has a market cap of $3.96 billion, a price-to-earnings ratio of -4.00 and a beta of 0.71. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The stock's fifty day simple moving average is $4.73 and its two-hundred day simple moving average is $4.83. Algonquin Power & Utilities Corp. has a 1-year low of $4.19 and a 1-year high of $6.79.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its 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 for the quarter, compared to the consensus estimate of $644.73 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. On average, research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 5.03%. The ex-dividend date is Monday, March 31st. Algonquin Power & Utilities's payout ratio is presently -14.44%.

Analyst Ratings Changes

Several analysts recently commented on AQN shares. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. Royal Bank of Canada reduced their price objective on Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating for the company in a report on Tuesday, February 18th. Scotiabank increased their target price on Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a "sector perform" rating in a research note on Thursday, February 13th. Finally, National Bankshares dropped their price target on Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating for the company in a 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 given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Algonquin Power & Utilities has a consensus rating of "Hold" and a consensus price target of $5.94.

Algonquin Power & Utilities 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.