Gamco Investors INC. ET AL Raises Stock Position in Algonquin Power & Utilities Corp. $AQN

Key Points

• Gamco Investors INC. ET AL increased its position in Algonquin Power & Utilities Corp. by 12.0%, owning 3,202,100 shares valued at approximately $16.46 million.
• Algonquin Power & Utilities reported a quarterly EPS of $0.04, meeting analyst expectations despite a negative net margin of 57.66%.
• The company declared a quarterly dividend of $0.065 per share, representing an annualized yield of 4.5% and a payout ratio of -14.44%.

Gamco Investors INC. ET AL increased its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 12.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,202,100 shares of the utilities provider's stock after buying an additional 344,100 shares during the period. Gamco Investors INC. ET AL owned about 0.42% of Algonquin Power & Utilities worth $16,459,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AQN. Raymond James Financial Inc. purchased a new stake in Algonquin Power & Utilities during the 4th quarter worth $990,000. Dimensional Fund Advisors LP increased its stake in Algonquin Power & Utilities by 12.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,782,827 shares of the utilities provider's stock worth $25,734,000 after buying an additional 654,006 shares during the period. Hsbc Holdings PLC increased its stake in Algonquin Power & Utilities by 12.3% during the 4th quarter. Hsbc Holdings PLC now owns 458,885 shares of the utilities provider's stock worth $2,039,000 after buying an additional 50,285 shares during the period. Nebula Research & Development LLC increased its stake in Algonquin Power & Utilities by 157.0% during the 4th quarter. Nebula Research & Development LLC now owns 161,576 shares of the utilities provider's stock worth $719,000 after buying an additional 98,702 shares during the period. Finally, Aquatic Capital Management LLC purchased a new stake in Algonquin Power & Utilities during the 4th quarter worth $1,638,000. Hedge funds and other institutional investors own 62.28% of the company's stock.

Algonquin Power & Utilities Stock Performance

NYSE AQN opened at $5.77 on Wednesday. Algonquin Power & Utilities Corp. has a one year low of $4.19 and a one year high of $6.24. The company has a 50-day simple moving average of $5.83 and a 200-day simple moving average of $5.44. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 1.09. The firm has a market capitalization 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 posted its quarterly 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 business had revenue of $535.59 million during the quarter, compared to analyst estimates of $535.64 million. During the same period in the previous year, the business posted $0.09 EPS. On average, equities analysts forecast that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AQN shares. National Bank Financial raised shares of Algonquin Power & Utilities to a "hold" rating in a research note on Sunday, June 8th. 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 research report on Monday, May 12th. Wall Street Zen downgraded shares of Algonquin Power & Utilities from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Scotiabank boosted their target price on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Finally, Royal Bank Of Canada boosted their target price on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Twelve analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $6.31.

Algonquin Power & Utilities Company 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.

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