Geode Capital Management LLC Grows Stock Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

Geode Capital Management LLC lifted its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 12.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,179,465 shares of the utilities provider's stock after acquiring an additional 128,806 shares during the quarter. Geode Capital Management LLC owned approximately 0.15% of Algonquin Power & Utilities worth $7,808,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Swiss National Bank raised its holdings in shares of Algonquin Power & Utilities by 10.4% during the 3rd quarter. Swiss National Bank now owns 1,433,000 shares of the utilities provider's stock valued at $7,843,000 after buying an additional 135,400 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Algonquin Power & Utilities by 6.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,720,474 shares of the utilities provider's stock worth $42,105,000 after purchasing an additional 447,246 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Algonquin Power & Utilities by 156.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 8,905,059 shares of the utilities provider's stock worth $52,341,000 after acquiring an additional 5,426,523 shares during the last quarter. Troluce Capital Advisors LLC increased its position in shares of Algonquin Power & Utilities by 33.3% in the second quarter. Troluce Capital Advisors LLC now owns 2,575,000 shares of the utilities provider's stock valued at $15,090,000 after acquiring an additional 643,352 shares during the period. Finally, Foundry Partners LLC purchased a new stake in shares of Algonquin Power & Utilities during the third quarter worth about $7,173,000. 62.28% of the stock is owned by institutional investors.

Algonquin Power & Utilities Stock Performance

Shares of AQN stock remained flat at $4.54 on Friday. 7,897,477 shares of the stock traded hands, compared to its average volume of 7,537,138. Algonquin Power & Utilities Corp. has a 1 year low of $4.25 and a 1 year high of $6.79. The company has a market capitalization of $3.48 billion, a PE ratio of -3.52 and a beta of 0.68. The company's fifty day moving average price is $4.68 and its 200-day moving average price is $5.28. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its earnings results on Thursday, November 7th. The utilities provider reported $0.08 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 company had revenue of $573.20 million during the quarter, compared to analyst estimates of $620.46 million. During the same period in the previous year, the company earned $0.11 EPS. The company's quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.39 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 5.73%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities's payout ratio is -20.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AQN shares. Scotiabank decreased 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. CIBC lowered their price objective on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a "neutral" rating for the company in a report on Tuesday, October 22nd. Royal Bank of Canada reiterated a "sector perform" rating and set a $6.00 target price on shares of Algonquin Power & Utilities in a report on Friday, October 11th. Wells Fargo & Company lowered their target price 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, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $7.00 price objective on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $6.25.

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.