Gamco Investors INC. ET AL Raises Stock Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

Gamco Investors INC. ET AL raised its holdings in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 83.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,858,000 shares of the utilities provider's stock after acquiring an additional 1,298,030 shares during the period. Gamco Investors INC. ET AL owned approximately 0.37% of Algonquin Power & Utilities worth $12,718,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AQN. Keeley Teton Advisors LLC increased its stake in shares of Algonquin Power & Utilities by 157.1% in the fourth quarter. Keeley Teton Advisors LLC now owns 935,450 shares of the utilities provider's stock worth $4,163,000 after buying an additional 571,549 shares during the period. Gabelli Funds LLC increased its position in Algonquin Power & Utilities by 11.0% during the 4th quarter. Gabelli Funds LLC now owns 1,517,250 shares of the utilities provider's stock valued at $6,752,000 after buying an additional 150,750 shares in the last quarter. Jump Financial LLC boosted its stake in Algonquin Power & Utilities by 344.2% in the 4th quarter. Jump Financial LLC now owns 239,027 shares of the utilities provider's stock worth $1,064,000 after purchasing an additional 185,217 shares in the last quarter. CenterBook Partners LP purchased a new stake in shares of Algonquin Power & Utilities during the fourth quarter valued at approximately $1,580,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Algonquin Power & Utilities in the fourth quarter worth $990,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Stock Down 1.1 %

Shares of NYSE AQN traded down $0.06 during mid-day trading on Monday, reaching $5.35. 4,250,075 shares of the company were exchanged, compared to its average volume of 7,375,193. Algonquin Power & Utilities Corp. has a 1 year low of $4.19 and a 1 year high of $6.79. The firm has a 50-day moving average of $4.97 and a 200 day moving average of $4.78. 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 has a market cap of $4.11 billion, a price-to-earnings ratio of -4.15 and a beta of 0.65.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $584.80 million for the quarter, compared to analysts' expectations of $644.73 million. On average, research analysts expect that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend was Monday, March 31st. Algonquin Power & Utilities's payout ratio is currently -14.44%.

Analyst Upgrades and Downgrades

Several analysts recently commented on AQN shares. National Bankshares cut their price objective 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. Scotiabank boosted their price target on shares of 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, Royal Bank of Canada reduced their price objective on 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $5.94.

About Algonquin Power & Utilities

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.