Algonquin Power & Utilities Corp. (NYSE:AQN) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its position in Algonquin Power & Utilities Corp. (NYSE:AQN) by 11.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 72,471 shares of the utilities provider’s stock after acquiring an additional 7,400 shares during the period. Public Sector Pension Investment Board’s holdings in Algonquin Power & Utilities were worth $396,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in Algonquin Power & Utilities by 320.6% in the second quarter. The Manufacturers Life Insurance Company now owns 7,273,228 shares of the utilities provider’s stock valued at $42,633,000 after acquiring an additional 5,544,063 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Algonquin Power & Utilities by 156.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 8,905,059 shares of the utilities provider’s stock valued at $52,341,000 after purchasing an additional 5,426,523 shares in the last quarter. Private Management Group Inc. acquired a new stake in shares of Algonquin Power & Utilities in the third quarter valued at about $12,361,000. Davidson Kempner Capital Management LP boosted its holdings in Algonquin Power & Utilities by 79.8% during the second quarter. Davidson Kempner Capital Management LP now owns 4,634,250 shares of the utilities provider’s stock worth $27,157,000 after buying an additional 2,056,534 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in Algonquin Power & Utilities by 31.2% during the second quarter. Point72 Asset Management L.P. now owns 5,956,389 shares of the utilities provider’s stock worth $34,989,000 after buying an additional 1,415,889 shares during the period. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities Trading Down 1.1 %

Shares of Algonquin Power & Utilities stock opened at $4.68 on Monday. The firm has a market cap of $3.59 billion, a PE ratio of -3.63 and a beta of 0.68. 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 Corp. has a fifty-two week low of $4.64 and a fifty-two week high of $6.79. The business’s fifty day moving average is $4.95 and its two-hundred day moving average is $5.50.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). The business had revenue of $573.20 million during the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 EPS. Analysts anticipate that Algonquin Power & Utilities Corp. will post 0.39 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.56%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently -20.16%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. CIBC decreased their price target 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. Raymond James downgraded Algonquin Power & Utilities from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $7.75 to $7.00 in a research report 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. Wells Fargo & Company decreased their price objective on shares of 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, Desjardins dropped their target price on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating for the company in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.18.

Algonquin Power & Utilities 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.