Canada Pension Plan Investment Board Acquires New Holdings in Algonquin Power & Utilities Corp (AQN)

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Canada Pension Plan Investment Board acquired a new position in Algonquin Power & Utilities Corp (NYSE:AQN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 172,650 shares of the utilities provider’s stock, valued at approximately $1,667,000.

A number of other large investors have also recently added to or reduced their stakes in AQN. Commonwealth Equity Services LLC acquired a new position in Algonquin Power & Utilities in the first quarter worth approximately $100,000. Trexquant Investment LP acquired a new position in Algonquin Power & Utilities in the first quarter worth approximately $131,000. Dynamic Technology Lab Private Ltd acquired a new position in Algonquin Power & Utilities in the first quarter worth approximately $161,000. Cubist Systematic Strategies LLC acquired a new position in Algonquin Power & Utilities in the first quarter worth approximately $174,000. Finally, Chicago Capital LLC acquired a new position in Algonquin Power & Utilities in the second quarter worth approximately $226,000. Hedge funds and other institutional investors own 41.98% of the company’s stock.

A number of research firms recently commented on AQN. ValuEngine upgraded Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. Zacks Investment Research downgraded Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a report on Tuesday, May 15th. Wells Fargo & Co dropped their price objective on Algonquin Power & Utilities from $14.00 to $12.00 and set a “market perform” rating on the stock in a report on Monday, August 20th. Finally, National Bank Financial restated an “outperform overweight” rating on shares of Algonquin Power & Utilities in a report on Monday, August 13th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Algonquin Power & Utilities presently has an average rating of “Buy” and a consensus target price of $11.50.

Shares of Algonquin Power & Utilities stock opened at $10.58 on Friday. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 18.24, a P/E/G ratio of 1.91 and a beta of 0.75. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.08 and a quick ratio of 0.87. Algonquin Power & Utilities Corp has a 12-month low of $9.45 and a 12-month high of $11.34.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results on Thursday, August 9th. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $366.24 million during the quarter, compared to analysts’ expectations of $332.38 million. Algonquin Power & Utilities had a return on equity of 10.25% and a net margin of 10.92%. equities analysts predict that Algonquin Power & Utilities Corp will post 0.68 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Friday, September 28th will be given a dividend of $0.129 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.52 dividend on an annualized basis and a yield of 4.88%. This is a boost from Algonquin Power & Utilities’s previous quarterly dividend of $0.13. Algonquin Power & Utilities’s dividend payout ratio is presently 87.93%.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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Institutional Ownership by Quarter for Algonquin Power & Utilities (NYSE:AQN)

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