BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,051,123 shares of the utilities provider's stock after buying an additional 91,353 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 1.70% of Algonquin Power & Utilities worth $57,852,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Barclays PLC grew its holdings in shares of Algonquin Power & Utilities by 33.2% during the third quarter. Barclays PLC now owns 829,508 shares of the utilities provider's stock worth $4,522,000 after buying an additional 206,603 shares during the last quarter. Tallon Kerry Patrick purchased a new stake in shares of Algonquin Power & Utilities during the fourth quarter worth approximately $141,000. Ballentine Partners LLC acquired a new stake in shares of Algonquin Power & Utilities during the fourth quarter worth $63,000. ARS Investment Partners LLC lifted its holdings in shares of Algonquin Power & Utilities by 10.9% during the fourth quarter. ARS Investment Partners LLC now owns 343,619 shares of the utilities provider's stock worth $1,529,000 after purchasing an additional 33,769 shares during the period. Finally, Duncan Williams Asset Management LLC purchased a new position in Algonquin Power & Utilities in the 4th quarter valued at $88,000. Hedge funds and other institutional investors own 62.28% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the company. CIBC cut their target price on 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. Scotiabank increased their price objective on Algonquin Power & Utilities from $5.50 to $6.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. BMO Capital Markets reissued a "market perform" rating and issued a $6.00 target price (up previously from $5.00) on shares of Algonquin Power & Utilities in a report on Monday, May 12th. Royal Bank of Canada upped their price target on shares of Algonquin Power & Utilities from $5.50 to $6.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Finally, Wall Street Zen downgraded shares of Algonquin Power & Utilities from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One 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. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $6.03.
Check Out Our Latest Report on AQN
Algonquin Power & Utilities Stock Up 1.4%
Shares of Algonquin Power & Utilities stock traded up $0.08 on Monday, hitting $5.57. 19,705,164 shares of the company's stock traded hands, compared to its average volume of 8,104,549. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The firm's 50-day moving average is $5.27 and its 200 day moving average is $4.87. The stock has a market cap of $4.27 billion, a P/E ratio of -4.31 and a beta of 0.67. Algonquin Power & Utilities Corp. has a 52-week low of $4.19 and a 52-week high of $6.59.
Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. The company had revenue of $692.40 million during the quarter, compared to analyst estimates of $699.08 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. During the same period last year, the business earned $0.14 EPS. Equities analysts anticipate 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 will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.065 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.26 dividend on an annualized basis and a yield of 4.67%. Algonquin Power & Utilities's dividend payout ratio (DPR) is -15.48%.
Algonquin Power & Utilities Profile
(
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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