Algonquin Power & Utilities Corp. (NYSE:AQN) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 12.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 458,885 shares of the utilities provider's stock after buying an additional 50,285 shares during the period. Hsbc Holdings PLC owned about 0.06% of Algonquin Power & Utilities worth $2,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of AQN. Dimensional Fund Advisors LP grew its position in Algonquin Power & Utilities by 12.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,782,827 shares of the utilities provider's stock valued at $25,734,000 after acquiring an additional 654,006 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Algonquin Power & Utilities by 1.0% in the fourth quarter. First Trust Advisors LP now owns 6,898,735 shares of the utilities provider's stock valued at $30,699,000 after purchasing an additional 70,774 shares in the last quarter. Callodine Capital Management LP increased its stake in Algonquin Power & Utilities by 30.0% during the 4th quarter. Callodine Capital Management LP now owns 2,600,000 shares of the utilities provider's stock worth $11,570,000 after buying an additional 600,000 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in Algonquin Power & Utilities by 49.8% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 302,522 shares of the utilities provider's stock worth $1,346,000 after buying an additional 100,572 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in Algonquin Power & Utilities by 83.2% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,858,000 shares of the utilities provider's stock valued at $12,718,000 after buying an additional 1,298,030 shares during the period. 62.28% of the stock is owned by institutional investors and hedge funds.

Algonquin Power & Utilities Stock Up 1.0 %

AQN stock traded up $0.06 during midday trading on Tuesday, reaching $5.44. 889,426 shares of the company were exchanged, compared to its average volume of 7,542,929. The company has a market cap of $4.17 billion, a price-to-earnings ratio of -4.21 and a beta of 0.67. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. Algonquin Power & Utilities Corp. has a 1-year low of $4.19 and a 1-year high of $6.79. The stock's 50-day simple moving average is $5.07 and its 200 day simple moving average is $4.80.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its quarterly earnings results on Friday, March 7th. The utilities provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.04). Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The company had revenue of $584.80 million for the quarter, compared to analyst estimates of $644.73 million. On average, equities analysts forecast that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.065 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.26 dividend on an annualized basis and a yield of 4.78%. Algonquin Power & Utilities's dividend payout ratio is presently -14.44%.

Analyst Ratings Changes

AQN has been the topic of several analyst reports. National Bankshares reduced their price objective on Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating on the stock in a research note on Tuesday, February 11th. Royal Bank of Canada decreased their price objective on Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating for the company in a research note on Tuesday, February 18th. Scotiabank upped their target price on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a "sector perform" rating in a research note on Thursday, February 13th. Finally, CIBC lowered their price target on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a "neutral" rating for the company in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Algonquin Power & Utilities has a consensus rating of "Hold" and a consensus target price of $5.92.

About Algonquin Power & Utilities

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.