Invesco Ltd. Has $13.46 Million Stake in Algonquin Power & Utilities Corp. (NYSE:AQN)

Invesco Ltd. boosted its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,023,830 shares of the utilities provider's stock after purchasing an additional 64,579 shares during the period. Invesco Ltd. owned approximately 0.39% of Algonquin Power & Utilities worth $13,456,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AQN. Northwest & Ethical Investments L.P. increased its position in shares of Algonquin Power & Utilities by 6.6% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 50,251 shares of the utilities provider's stock valued at $223,000 after purchasing an additional 3,096 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Algonquin Power & Utilities by 0.4% during the 4th quarter. CIBC Asset Management Inc now owns 935,130 shares of the utilities provider's stock valued at $4,141,000 after acquiring an additional 3,656 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in 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 valued at $78,000 after purchasing an additional 5,060 shares in the last quarter. Signaturefd LLC boosted its stake in Algonquin Power & Utilities by 18.5% in the 4th quarter. Signaturefd LLC now owns 42,383 shares of the utilities provider's stock worth $189,000 after buying an additional 6,602 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Algonquin Power & Utilities by 4.1% in the 4th quarter. Van ECK Associates Corp now owns 221,307 shares of the utilities provider's stock worth $982,000 after buying an additional 8,620 shares during the period. 62.28% of the stock is owned by institutional investors and hedge funds.

Algonquin Power & Utilities Trading Up 1.0 %

Shares of Algonquin Power & Utilities stock traded up $0.05 during trading on Thursday, hitting $5.29. 10,783,409 shares of the company were exchanged, compared to its average volume of 7,449,088. Algonquin Power & Utilities Corp. has a 1-year low of $4.19 and a 1-year high of $6.79. 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 firm has a market capitalization of $4.06 billion, a P/E ratio of -4.10 and a beta of 0.65. The firm's fifty day moving average price is $5.01 and its 200 day moving average price is $4.79.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its quarterly earnings data on Friday, March 7th. The utilities provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.04). The company had revenue of $584.80 million during the quarter, compared to the consensus estimate 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 expect 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 paid a $0.065 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.91%. Algonquin Power & Utilities's payout ratio is currently -14.44%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AQN shares. National Bankshares decreased their price objective 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. Royal Bank of Canada decreased their price target 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. CIBC dropped their target price on Algonquin Power & Utilities from $5.50 to $5.25 and set a "neutral" rating on the stock in a research report on Thursday. Finally, Scotiabank lifted their price target on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a "sector perform" rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Algonquin Power & Utilities presently has an average rating of "Hold" and an average target price of $5.92.

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.