Y Intercept Hong Kong Ltd Invests $792,000 in Algonquin Power & Utilities Corp. (NYSE:AQN)

Y Intercept Hong Kong Ltd purchased a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 145,230 shares of the utilities provider's stock, valued at approximately $792,000.

Other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can lifted its holdings in Algonquin Power & Utilities by 6.0% during the third 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. EdgePoint Investment Group Inc. grew its position in shares of Algonquin Power & Utilities by 5.1% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 17,190,084 shares of the utilities provider's stock valued at $93,918,000 after acquiring an additional 832,739 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Algonquin Power & Utilities by 45.5% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,959,770 shares of the utilities provider's stock worth $70,806,000 after purchasing an additional 4,054,711 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Algonquin Power & Utilities by 3.4% in the 2nd quarter. National Bank of Canada FI now owns 10,565,940 shares of the utilities provider's stock worth $61,759,000 after purchasing an additional 342,528 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Algonquin Power & Utilities by 6.1% during the third quarter. The Manufacturers Life Insurance Company now owns 7,720,474 shares of the utilities provider's stock valued at $42,105,000 after purchasing an additional 447,246 shares during the period. 62.28% of the stock is owned by institutional investors.

Algonquin Power & Utilities Trading Down 1.3 %

Algonquin Power & Utilities stock traded down $0.06 during mid-day trading on Friday, reaching $4.47. 6,057,466 shares of the company traded hands, compared to its average volume of 5,578,073. The firm's 50 day moving average price is $4.87 and its 200 day moving average price is $5.44. Algonquin Power & Utilities Corp. has a 52-week low of $4.42 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 market capitalization of $3.43 billion, a price-to-earnings ratio of -3.47 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). The company had revenue of $573.20 million during 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%. Algonquin Power & Utilities's quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.11 earnings per share. On average, analysts anticipate that Algonquin Power & Utilities Corp. will post 0.39 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given 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 5.82%. Algonquin Power & Utilities's dividend payout ratio is presently -20.15%.

Analyst Ratings Changes

A number of brokerages have recently commented on AQN. CIBC dropped their price target on 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. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $7.00 price target on shares of Algonquin Power & Utilities in a research report on Thursday. Scotiabank cut their price objective 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 dropped their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set an "equal weight" rating on the stock in a research report on Wednesday, October 16th. Finally, Janney Montgomery Scott began coverage on Algonquin Power & Utilities in a report on Thursday, September 5th. They set a "neutral" rating and a $6.00 price objective on the stock. One analyst has rated the stock with a sell rating, ten have assigned 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, the stock presently has a consensus rating of "Hold" and a consensus price target of $6.25.

About Algonquin Power & Utilities

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.