Swiss National Bank Increases Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

Swiss National Bank raised its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 10.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,433,000 shares of the utilities provider's stock after acquiring an additional 135,400 shares during the period. Swiss National Bank owned approximately 0.19% of Algonquin Power & Utilities worth $7,843,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Central Pacific Bank Trust Division purchased a new stake in Algonquin Power & Utilities during the third quarter valued at $54,000. Claro Advisors LLC bought a new stake in shares of Algonquin Power & Utilities during the second quarter valued at approximately $61,000. Verdence Capital Advisors LLC purchased a new position in shares of Algonquin Power & Utilities in the third quarter worth $61,000. SeaCrest Wealth Management LLC purchased a new position in Algonquin Power & Utilities during the second quarter valued at $66,000. Finally, SVB Wealth LLC purchased a new position in shares of Algonquin Power & Utilities during the first quarter valued at about $82,000. Hedge funds and other institutional investors own 62.28% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AQN. 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. Raymond James cut Algonquin Power & Utilities from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $7.75 to $7.00 in a research note on Monday, August 12th. National Bank Financial raised Algonquin Power & Utilities from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 12th. Scotiabank cut their target price on Algonquin Power & Utilities from $5.75 to $5.25 and set a "sector perform" rating on the stock in a research report on Friday, November 8th. Finally, Wells Fargo & Company decreased their price target on Algonquin Power & Utilities from $6.00 to $5.50 and set an "equal weight" rating on the stock in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $6.18.

Algonquin Power & Utilities Trading Down 1.9 %

AQN traded down $0.09 on Tuesday, reaching $4.76. 3,584,457 shares of the company traded hands, compared to its average volume of 5,598,371. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The company has a market cap of $3.65 billion, a P/E ratio of -3.71 and a beta of 0.68. The firm has a fifty day simple moving average of $5.07 and a two-hundred day simple moving average of $5.61. Algonquin Power & Utilities Corp. has a one year low of $4.67 and a one year high of $6.79.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $573.20 million during 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%. The business's revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 earnings per share. As a group, equities research analysts expect that Algonquin Power & Utilities Corp. will post 0.4 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.26 annualized dividend and a dividend yield of 5.46%. Algonquin Power & Utilities's dividend payout ratio (DPR) is presently -20.15%.

Algonquin Power & Utilities Company Profile

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.