Van ECK Associates Corp Has $982,000 Stock Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

Van ECK Associates Corp boosted its position in Algonquin Power & Utilities Corp. (NYSE:AQN) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 221,307 shares of the utilities provider’s stock after purchasing an additional 8,620 shares during the period. Van ECK Associates Corp’s holdings in Algonquin Power & Utilities were worth $982,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capstone Investment Advisors LLC acquired a new position in Algonquin Power & Utilities in the 3rd quarter worth about $58,000. Walleye Capital LLC acquired a new position in Algonquin Power & Utilities in the 3rd quarter worth about $59,000. Verdence Capital Advisors LLC acquired a new position in Algonquin Power & Utilities in the 3rd quarter worth about $61,000. Raymond James Trust N.A. increased its holdings 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 worth $73,000 after purchasing an additional 3,343 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new position in Algonquin Power & Utilities in the 4th quarter worth about $63,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

Algonquin Power & Utilities Stock Down 0.9 %

Shares of Algonquin Power & Utilities stock opened at $4.96 on Friday. Algonquin Power & Utilities Corp. has a one year low of $4.19 and a one year 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 stock’s 50-day moving average is $4.51 and its 200 day moving average is $4.91. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of -3.84 and a beta of 0.69.

Analyst Ratings Changes

A number of brokerages have issued reports on AQN. Royal Bank of Canada lowered their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a report on Tuesday. National Bankshares reduced their price target on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. Scotiabank upped their price target on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $7.00 price target on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.00.

Algonquin Power & Utilities Company 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.