Manning & Napier Advisors LLC Increases Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

Manning & Napier Advisors LLC raised its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 25.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,250,000 shares of the utilities provider's stock after purchasing an additional 250,000 shares during the quarter. Manning & Napier Advisors LLC owned 0.16% of Algonquin Power & Utilities worth $5,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in shares of Algonquin Power & Utilities during the 3rd quarter worth $54,000. Capstone Investment Advisors LLC purchased a new position in shares of Algonquin Power & Utilities in the 3rd quarter worth about $58,000. Walleye Capital LLC purchased a new position in shares of Algonquin Power & Utilities in the 3rd quarter worth about $59,000. Verdence Capital Advisors LLC bought a new position in shares of Algonquin Power & Utilities during the 3rd quarter valued at about $61,000. Finally, Ballentine Partners LLC purchased a new position in shares of Algonquin Power & Utilities during the 4th quarter valued at about $63,000. Hedge funds and other institutional investors own 62.28% of the company's stock.

Algonquin Power & Utilities Trading Up 1.7 %

AQN traded up $0.08 during midday trading on Thursday, reaching $4.37. 2,883,174 shares of the company's stock traded hands, compared to its average volume of 7,481,564. Algonquin Power & Utilities Corp. has a 52 week low of $4.19 and a 52 week 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 fifty day moving average of $4.54 and a two-hundred day moving average of $5.08. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of -3.38 and a beta of 0.69.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced 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). The business had revenue of $573.20 million for the quarter, compared to the consensus estimate of $620.46 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. Algonquin Power & Utilities's revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.11 EPS. On average, equities analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date was Tuesday, December 31st. Algonquin Power & Utilities's payout ratio is -20.15%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. 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 reiterated a "sector perform" rating and issued a $6.00 target price on shares of Algonquin Power & Utilities in a research report on Friday, October 11th. Wells Fargo & Company lowered their price target on shares of 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. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $7.00 price objective on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. Finally, Scotiabank lowered their target price on 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $6.13.

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.