Mufg Securities Canada LTD. Has $5.20 Million Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

Mufg Securities Canada LTD. lifted its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 72.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,171,588 shares of the utilities provider's stock after acquiring an additional 490,829 shares during the quarter. Mufg Securities Canada LTD. owned about 0.15% of Algonquin Power & Utilities worth $5,197,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Swiss National Bank boosted its position in Algonquin Power & Utilities by 10.4% during the third quarter. Swiss National Bank now owns 1,433,000 shares of the utilities provider's stock worth $7,843,000 after purchasing an additional 135,400 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Algonquin Power & Utilities by 14.5% in the third quarter. Advisors Asset Management Inc. now owns 163,335 shares of the utilities provider's stock worth $890,000 after buying an additional 20,731 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Algonquin Power & Utilities by 10.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,211,241 shares of the utilities provider's stock worth $12,095,000 after buying an additional 206,490 shares during the period. Raymond James Trust N.A. grew its stake in Algonquin Power & Utilities by 33.4% in the 3rd quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider's stock valued at $73,000 after buying an additional 3,343 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in Algonquin Power & Utilities by 6.0% in the 3rd quarter. Bank of Montreal Can now owns 20,882,966 shares of the utilities provider's stock worth $115,175,000 after acquiring an additional 1,190,236 shares during the period. Institutional investors and hedge funds own 62.28% of the company's stock.

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Analysts Set New Price Targets

AQN has been the subject of a number of recent analyst reports. National Bankshares decreased their price target on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating for the company in a report on Tuesday, February 11th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $7.00 price objective on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. Royal Bank of Canada cut their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating for the company in a research note on Tuesday, February 18th. Finally, Scotiabank lifted their price target on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a "sector perform" rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $5.94.

Algonquin Power & Utilities Price Performance

Algonquin Power & Utilities stock traded up $0.03 during mid-day trading on Friday, hitting $5.20. 8,019,990 shares of the company were exchanged, compared to its average volume of 6,844,737. The company has a market capitalization of $3.99 billion, a PE ratio of -4.03 and a beta of 0.71. The business has a fifty day moving average of $4.78 and a 200 day moving average of $4.83. Algonquin Power & Utilities Corp. has a 1-year low of $4.19 and a 1-year high of $6.79. 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 announced its earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.04). The firm had revenue of $584.80 million for the quarter, compared to analyst estimates of $644.73 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. As a group, sell-side analysts expect that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Monday, March 31st. Algonquin Power & Utilities's payout ratio is currently -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.