TD Asset Management Inc. raised its holdings in Algonquin Power & Utilities Corp (NYSE:AQN) by 1.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,456,874 shares of the utilities provider’s stock after acquiring an additional 90,676 shares during the quarter. TD Asset Management Inc. owned 2.00% of Algonquin Power & Utilities worth $97,744,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Commonwealth Equity Services LLC purchased a new position in shares of Algonquin Power & Utilities in the first quarter valued at $100,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Algonquin Power & Utilities in the first quarter valued at $161,000. Cubist Systematic Strategies LLC purchased a new position in shares of Algonquin Power & Utilities in the first quarter valued at $174,000. Chicago Capital LLC purchased a new position in shares of Algonquin Power & Utilities in the second quarter valued at $226,000. Finally, Paloma Partners Management Co purchased a new position in shares of Algonquin Power & Utilities in the second quarter valued at $226,000. Institutional investors and hedge funds own 42.34% of the company’s stock.
AQN has been the subject of a number of research analyst reports. Wells Fargo & Co dropped their price target on Algonquin Power & Utilities from $14.00 to $12.00 and set a “market perform” rating for the company in a research report on Monday, August 20th. National Bank Financial cut Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $11.00 to $10.50 in a research report on Friday, October 5th. Finally, Zacks Investment Research upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective for the company in a research report on Wednesday, July 11th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Algonquin Power & Utilities presently has a consensus rating of “Hold” and a consensus target price of $11.17.
Algonquin Power & Utilities stock opened at $10.05 on Monday. The stock has a market cap of $4.71 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.84 and a beta of 0.74. Algonquin Power & Utilities Corp has a 52 week low of $9.45 and a 52 week high of $11.34. 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 (NYSE:AQN) last posted its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.11 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%. As a group, sell-side analysts forecast that Algonquin Power & Utilities Corp will post 0.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 28th were given a dividend of $0.129 per share. This represents a $0.52 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date was Thursday, September 27th. This is a boost from Algonquin Power & Utilities’s previous quarterly dividend of $0.13. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently 87.93%.
Algonquin Power & Utilities 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.
See Also: Return on Investment (ROI)
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