Two Sigma Investments LP raised its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 178.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,613,810 shares of the utilities provider's stock after purchasing an additional 1,033,904 shares during the period. Two Sigma Investments LP owned about 0.21% of Algonquin Power & Utilities worth $7,181,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. SVB Wealth LLC bought a new stake in shares of Algonquin Power & Utilities in the 4th quarter valued at about $49,000. Avantax Advisory Services Inc. purchased a new stake in Algonquin Power & Utilities during the fourth quarter worth $58,000. Ballentine Partners LLC bought a new stake in Algonquin Power & Utilities during the 4th quarter valued at $63,000. Spire Wealth Management increased its holdings in shares of Algonquin Power & Utilities by 149.6% in the 4th quarter. Spire Wealth Management now owns 17,000 shares of the utilities provider's stock valued at $76,000 after acquiring an additional 10,190 shares during the period. Finally, Capstone Investment Advisors LLC raised its position in shares of Algonquin Power & Utilities by 59.6% in the 4th quarter. Capstone Investment Advisors LLC now owns 17,060 shares of the utilities provider's stock worth $76,000 after acquiring an additional 6,370 shares in the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
AQN has been the topic of several analyst reports. Scotiabank lifted their target price on Algonquin Power & Utilities from $5.50 to $6.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. CIBC lowered their target price on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Wall Street Zen downgraded Algonquin Power & Utilities from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Royal Bank of Canada upped their target price on Algonquin Power & Utilities from $5.50 to $6.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Finally, National Bankshares lowered their price target on Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating for the company in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Algonquin Power & Utilities currently has an average rating of "Hold" and a consensus target price of $6.03.
Get Our Latest Report on Algonquin Power & Utilities
Algonquin Power & Utilities Stock Performance
NYSE AQN traded up $0.04 on Friday, reaching $5.52. 4,588,978 shares of the company's stock traded hands, compared to its average volume of 8,148,616. Algonquin Power & Utilities Corp. has a fifty-two week low of $4.19 and a fifty-two week high of $6.37. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of -4.28 and a beta of 0.67. The stock has a 50 day moving average price of $5.30 and a 200-day moving average price of $4.88.
Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. 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 $692.40 million during the quarter, compared to analysts' expectations of $699.08 million. During the same period last year, the business earned $0.14 earnings per share. Equities research analysts predict that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.
Algonquin Power & Utilities Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.065 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.26 annualized dividend and a yield of 4.71%. Algonquin Power & Utilities's payout ratio is -15.48%.
About Algonquin Power & Utilities
(
Free Report)
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.
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