Greenland Capital Management LP Buys 839,950 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Greenland Capital Management LP lifted its holdings in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 193.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,273,050 shares of the utilities provider's stock after buying an additional 839,950 shares during the quarter. Greenland Capital Management LP owned approximately 0.17% of Algonquin Power & Utilities worth $5,649,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AQN. Northwest & Ethical Investments L.P. grew its holdings in Algonquin Power & Utilities by 6.6% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 50,251 shares of the utilities provider's stock worth $223,000 after purchasing an additional 3,096 shares during the period. CIBC Asset Management Inc boosted its position in shares of Algonquin Power & Utilities by 0.4% in the 4th quarter. CIBC Asset Management Inc now owns 935,130 shares of the utilities provider's stock worth $4,141,000 after purchasing an additional 3,656 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Algonquin Power & Utilities by 40.5% in the 4th quarter. Quadrant Capital Group LLC now owns 17,555 shares of the utilities provider's stock worth $78,000 after buying an additional 5,060 shares during the last quarter. Signaturefd LLC increased its position in Algonquin Power & Utilities by 18.5% during the 4th quarter. Signaturefd LLC now owns 42,383 shares of the utilities provider's stock valued at $189,000 after buying an additional 6,602 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its stake in Algonquin Power & Utilities by 11.4% during the third quarter. Public Sector Pension Investment Board now owns 72,471 shares of the utilities provider's stock valued at $396,000 after buying an additional 7,400 shares during the last quarter. 62.28% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

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

Algonquin Power & Utilities Stock Performance

Algonquin Power & Utilities stock traded up $0.18 during mid-day trading on Friday, reaching $5.06. 10,597,633 shares of the stock traded hands, compared to its average volume of 7,240,600. Algonquin Power & Utilities Corp. has a 12-month low of $4.19 and a 12-month high of $6.79. The business's 50-day moving average is $4.90 and its 200-day moving average is $4.79. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The stock has a market capitalization of $3.88 billion, a PE ratio of -3.92 and a beta of 0.65.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its quarterly earnings results on Friday, March 7th. The utilities provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.04). The business had revenue of $584.80 million for the quarter, compared to analysts' expectations of $644.73 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. As a group, sell-side analysts predict that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.065 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.26 annualized dividend and a dividend yield of 5.14%. Algonquin Power & Utilities's dividend payout ratio (DPR) is -14.44%.

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.