Jane Street Group LLC grew its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 321.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,124,923 shares of the utilities provider's stock after purchasing an additional 858,022 shares during the quarter. Jane Street Group LLC owned 0.15% of Algonquin Power & Utilities worth $6,147,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Central Pacific Bank Trust Division purchased a new stake in Algonquin Power & Utilities during the 3rd quarter worth $54,000. Capstone Investment Advisors LLC acquired a new stake in Algonquin Power & Utilities during the 3rd quarter valued at approximately $58,000. Walleye Capital LLC purchased a new stake in Algonquin Power & Utilities during the 3rd quarter worth approximately $59,000. Claro Advisors LLC purchased a new stake in Algonquin Power & Utilities during the 2nd quarter worth approximately $61,000. Finally, Verdence Capital Advisors LLC acquired a new position in shares of Algonquin Power & Utilities in the 3rd quarter valued at approximately $61,000. Hedge funds and other institutional investors own 62.28% of the company's stock.
Algonquin Power & Utilities Stock Performance
AQN traded up $0.04 during trading on Monday, reaching $4.51. 5,755,511 shares of the company were exchanged, compared to its average volume of 5,578,806. Algonquin Power & Utilities Corp. has a 52 week low of $4.41 and a 52 week high of $6.79. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. The firm has a 50 day moving average of $4.85 and a 200 day moving average of $5.42. The stock has a market cap of $3.46 billion, a P/E ratio of -3.50 and a beta of 0.68.
Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $573.20 million for the quarter, compared to the consensus estimate of $620.46 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The firm's revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.11 EPS. On average, sell-side analysts forecast that Algonquin Power & Utilities Corp. will post 0.39 EPS for the current fiscal year.
Algonquin Power & Utilities Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 5.76%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities's dividend payout ratio is currently -20.16%.
Analysts Set New Price Targets
A number of analysts recently issued reports on the stock. Scotiabank dropped their price target on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a "sector perform" rating for the company in a research note on Friday, November 8th. Wells Fargo & Company dropped their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an "equal weight" rating for the company in a research report on Wednesday, October 16th. CIBC reduced their price target on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a "neutral" rating on the stock in a research report on Tuesday, October 22nd. Royal Bank of Canada reissued a "sector perform" rating and issued a $6.00 price objective on shares of Algonquin Power & Utilities in a report on Friday, October 11th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $6.25.
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About Algonquin Power & Utilities
(
Free Report)
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.
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