GABELLI & Co INVESTMENT ADVISERS INC. Buys 100,572 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 49.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 302,522 shares of the utilities provider's stock after purchasing an additional 100,572 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC.'s holdings in Algonquin Power & Utilities were worth $1,346,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Gamco Investors INC. ET AL raised its stake in Algonquin Power & Utilities by 83.2% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,858,000 shares of the utilities provider's stock worth $12,718,000 after buying an additional 1,298,030 shares in the last quarter. Keeley Teton Advisors LLC grew its holdings in shares of Algonquin Power & Utilities by 157.1% during the 4th quarter. Keeley Teton Advisors LLC now owns 935,450 shares of the utilities provider's stock worth $4,163,000 after acquiring an additional 571,549 shares during the period. Gabelli Funds LLC raised its position in shares of Algonquin Power & Utilities by 11.0% in the 4th quarter. Gabelli Funds LLC now owns 1,517,250 shares of the utilities provider's stock worth $6,752,000 after acquiring an additional 150,750 shares in the last quarter. Jump Financial LLC lifted its stake in shares of Algonquin Power & Utilities by 344.2% in the 4th quarter. Jump Financial LLC now owns 239,027 shares of the utilities provider's stock valued at $1,064,000 after purchasing an additional 185,217 shares during the period. Finally, CenterBook Partners LP bought a new stake in shares of Algonquin Power & Utilities during the fourth quarter valued at approximately $1,580,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Stock Up 2.4 %

Shares of AQN traded up $0.13 on Friday, hitting $5.40. 15,593,828 shares of the stock traded hands, compared to its average volume of 7,386,210. Algonquin Power & Utilities Corp. has a one year low of $4.19 and a one year high of $6.79. The company has a market capitalization of $4.14 billion, a PE ratio of -4.18 and a beta of 0.65. The business has a 50 day simple moving average of $4.97 and a 200 day simple moving average of $4.79. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its earnings results on Friday, March 7th. The utilities provider reported $0.06 EPS 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 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%. As a group, equities analysts forecast that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend was Monday, March 31st. Algonquin Power & Utilities's payout ratio is presently -14.44%.

Analyst Ratings Changes

A number of research firms have issued reports on AQN. Scotiabank increased their price objective on Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. National Bankshares lowered their price target on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating for the company in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada cut 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. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $5.94.

Algonquin Power & Utilities Company 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.