Vanguard Group Inc. Purchases 204,473 Shares of Algonquin Power & Utilities Corp. $AQN

Key Points

• Vanguard Group Inc. increased its holdings in Algonquin Power & Utilities by 0.6%, owning approximately 31.7 million shares valued at $162.9 million.
• Algonquin Power & Utilities reported $0.04 EPS for its latest quarter, aligning with analysts' expectations, and a negative net margin of 57.66%.
• The company announced a quarterly dividend of $0.065 per share, with a dividend yield of 4.5%, to be paid on October 15th.

Vanguard Group Inc. boosted its position in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 0.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,715,401 shares of the utilities provider's stock after purchasing an additional 204,473 shares during the quarter. Vanguard Group Inc. owned about 4.13% of Algonquin Power & Utilities worth $162,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of AQN. EdgePoint Investment Group Inc. lifted its stake in Algonquin Power & Utilities by 32.8% in the 4th quarter. EdgePoint Investment Group Inc. now owns 22,830,789 shares of the utilities provider's stock worth $101,202,000 after purchasing an additional 5,640,705 shares in the last quarter. Packer & Co Ltd bought a new position in shares of Algonquin Power & Utilities in the 1st quarter worth $23,197,000. Starboard Value LP increased its holdings in shares of Algonquin Power & Utilities by 5.1% in the 4th quarter. Starboard Value LP now owns 65,316,000 shares of the utilities provider's stock worth $290,656,000 after buying an additional 3,175,000 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of Algonquin Power & Utilities by 2,961.1% in the 4th quarter. Two Sigma Advisers LP now owns 2,718,300 shares of the utilities provider's stock worth $12,096,000 after buying an additional 2,629,500 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of Algonquin Power & Utilities by 40.2% in the 4th quarter. Toronto Dominion Bank now owns 7,910,535 shares of the utilities provider's stock worth $35,066,000 after buying an additional 2,267,343 shares during the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AQN shares. Royal Bank Of Canada increased their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. National Bank Financial raised shares of Algonquin Power & Utilities to a "hold" rating in a report on Sunday, June 8th. Raymond James Financial increased their price target on shares of Algonquin Power & Utilities from $5.00 to $6.00 and gave the stock a "market perform" rating in a report on Wednesday, June 4th. National Bankshares lowered shares of Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 price target on the stock. in a report on Wednesday, June 4th. Finally, Desjardins increased their price target on shares of Algonquin Power & Utilities from $4.75 to $6.00 and gave the stock a "hold" rating in a report on Wednesday, June 4th. Twelve equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $6.31.

Algonquin Power & Utilities Stock Performance

Shares of AQN stock remained flat at $5.77 on Tuesday. 4,700,872 shares of the company traded hands, compared to its average volume of 6,643,321. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 1.22. Algonquin Power & Utilities Corp. has a 52 week low of $4.19 and a 52 week high of $6.24. The firm's 50 day moving average is $5.83 and its two-hundred day moving average is $5.44. The stock has a market cap of $4.43 billion, a PE ratio of -3.21 and a beta of 0.67.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its earnings results on Friday, August 8th. The utilities provider reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. The company had revenue of $535.59 million for the quarter, compared to analyst estimates of $535.64 million. During the same quarter last year, the firm earned $0.09 EPS. As a group, sell-side analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Monday, September 29th. Algonquin Power & Utilities's dividend payout ratio (DPR) is -14.44%.

Algonquin Power & Utilities 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.