Entropy Technologies LP Acquires New Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

Entropy Technologies LP bought a new position in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 189,700 shares of the utilities provider's stock, valued at approximately $1,034,000.

Other institutional investors also recently modified their holdings of the company. Verdence Capital Advisors LLC purchased a new position in shares of Algonquin Power & Utilities during the third quarter valued at approximately $61,000. Fiera Capital Corp purchased a new position in shares of Algonquin Power & Utilities in the third quarter worth $96,000. Van ECK Associates Corp purchased a new stake in Algonquin Power & Utilities during the third quarter valued at $1,058,000. Private Management Group Inc. bought a new position in shares of Algonquin Power & Utilities during the 3rd quarter valued at approximately $12,361,000. Finally, Private Advisor Group LLC lifted its stake in shares of Algonquin Power & Utilities by 14.1% during the 3rd quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider's stock worth $97,000 after acquiring an additional 2,201 shares during the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Scotiabank lowered their target price on Algonquin Power & Utilities from $5.75 to $5.25 and set a "sector perform" rating for the company in a report on Friday, November 8th. Royal Bank of Canada restated a "sector perform" rating and issued a $6.00 target price on shares of Algonquin Power & Utilities in a research note on Friday, October 11th. National Bank Financial upgraded Algonquin Power & Utilities from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 12th. Wells Fargo & Company reduced their price objective on 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. Finally, Desjardins dropped their target price on Algonquin Power & Utilities from $5.50 to $5.25 and set a "hold" rating for the company in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $6.18.

Algonquin Power & Utilities Stock Up 1.6 %

NYSE AQN traded up $0.07 during trading hours on Thursday, reaching $4.81. 5,345,312 shares of the company traded hands, compared to its average volume of 5,637,981. The stock has a market capitalization of $3.69 billion, a PE ratio of -3.72 and a beta of 0.68. Algonquin Power & Utilities Corp. has a 12 month low of $4.67 and a 12 month high of $6.79. The company has a 50 day moving average of $5.16 and a two-hundred day moving average of $5.71. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share 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 company had revenue of $573.20 million during the quarter, compared to analyst estimates of $620.46 million. During the same quarter last year, the business earned $0.11 EPS. The company's revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities analysts expect that Algonquin Power & Utilities Corp. will post 0.4 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend is Tuesday, December 31st. Algonquin Power & Utilities's payout ratio is presently -20.16%.

Algonquin Power & Utilities 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.