Signition LP acquired a new stake in Algonquin Power & Utilities Corp (NYSE:AQN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 22,700 shares of the utilities provider’s stock, valued at approximately $235,000.
Several other institutional investors also recently made changes to their positions in AQN. Commonwealth Equity Services LLC acquired a new position in Algonquin Power & Utilities in the 1st quarter worth approximately $100,000. Cubist Systematic Strategies LLC acquired a new position in Algonquin Power & Utilities in the 1st quarter worth approximately $174,000. Legal & General Group Plc increased its holdings in Algonquin Power & Utilities by 94.7% in the 1st quarter. Legal & General Group Plc now owns 160,050 shares of the utilities provider’s stock worth $1,585,000 after buying an additional 77,854 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Algonquin Power & Utilities in the 1st quarter worth approximately $161,000. Finally, Hexavest Inc. acquired a new position in Algonquin Power & Utilities in the 2nd quarter worth approximately $5,770,000. 42.34% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on AQN. Zacks Investment Research downgraded shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a report on Monday, October 15th. National Bank Financial reiterated an “outperform overweight” rating on shares of Algonquin Power & Utilities in a report on Monday, August 13th. Finally, Wells Fargo & Co cut their price target on shares of 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. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.17.
Shares of NYSE:AQN opened at $10.20 on Tuesday. Algonquin Power & Utilities Corp has a twelve month low of $9.45 and a twelve month high of $11.34. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.87 and a current ratio of 1.08. The company has a market capitalization of $4.71 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 1.84 and a beta of 0.74.
Algonquin Power & Utilities (NYSE:AQN) last issued 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 business had revenue of $366.24 million for the quarter, compared to analysts’ expectations of $332.38 million. Algonquin Power & Utilities had a net margin of 10.92% and a return on equity of 10.25%. On average, analysts forecast that Algonquin Power & Utilities Corp will post 0.68 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were paid a dividend of $0.129 per share. This is a boost from Algonquin Power & Utilities’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.06%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 87.93%.
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About Algonquin Power & Utilities
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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