Algonquin Power & Utilities Corp. (NYSE:AQN) Shares Acquired by Private Management Group Inc.

Private Management Group Inc. increased its position in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 161.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,924,983 shares of the utilities provider's stock after purchasing an additional 3,656,840 shares during the period. Private Management Group Inc. owned 0.77% of Algonquin Power & Utilities worth $26,366,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AQN. Spire Wealth Management increased its position in Algonquin Power & Utilities by 149.6% during the fourth quarter. Spire Wealth Management now owns 17,000 shares of the utilities provider's stock worth $76,000 after buying an additional 10,190 shares during the period. Manning & Napier Advisors LLC raised its position in Algonquin Power & Utilities by 25.0% in the 4th quarter. Manning & Napier Advisors LLC now owns 1,250,000 shares of the utilities provider's stock valued at $5,562,000 after purchasing an additional 250,000 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in Algonquin Power & Utilities in the 4th quarter valued at $106,000. Duncan Williams Asset Management LLC acquired a new stake in Algonquin Power & Utilities during the 4th quarter worth $88,000. Finally, ARS Investment Partners LLC grew its position in Algonquin Power & Utilities by 10.9% during the 4th quarter. ARS Investment Partners LLC now owns 343,619 shares of the utilities provider's stock worth $1,529,000 after purchasing an additional 33,769 shares during the last quarter. 62.28% of the stock is owned by institutional investors and hedge funds.

Algonquin Power & Utilities Price Performance

AQN stock traded down $0.05 on Friday, reaching $4.46. 7,830,912 shares of the company's stock were exchanged, compared to its average volume of 8,063,363. Algonquin Power & Utilities Corp. has a twelve month low of $4.19 and a twelve month 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 stock has a fifty day moving average of $4.49 and a 200-day moving average of $5.00.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). The company had revenue of $573.20 million for the quarter, compared to analyst estimates 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 business's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $0.11 earnings per share. On average, analysts predict that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

AQN has been the subject of a number of research reports. Scotiabank reduced their target price on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a "sector perform" rating for the company in a report on Friday, November 8th. Wells Fargo & Company reduced their price objective on 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. CIBC lowered their target price on Algonquin Power & Utilities from $5.75 to $5.50 and set a "neutral" rating on the stock in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $7.00 price target on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. One investment 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. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price 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.