Invesco Ltd. Has $17.88 Million Holdings in Algonquin Power & Utilities Corp. $AQN

Key Points

• Invesco Ltd. increased its stake in Algonquin Power & Utilities Corp. by 15.1%, bringing its total holdings to approximately 3.48 million shares worth around $17.88 million.
• Several brokerages upgraded their ratings for Algonquin Power & Utilities, with price targets ranging from $6.00 to $6.50, and a consensus rating of "Hold" among analysts.
• The company announced a quarterly dividend of $0.065 per share, equivalent to an annualized yield of 4.5%, with the payout date set for October 15th.

Invesco Ltd. boosted its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 15.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,479,301 shares of the utilities provider's stock after buying an additional 455,471 shares during the period. Invesco Ltd. owned about 0.45% of Algonquin Power & Utilities worth $17,884,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. US Bancorp DE raised its stake in Algonquin Power & Utilities by 85.7% in the 1st quarter. US Bancorp DE now owns 4,887 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 2,256 shares during the period. Atria Wealth Solutions Inc. bought a new stake in shares of Algonquin Power & Utilities in the first quarter valued at $51,000. Sowell Financial Services LLC bought a new position in Algonquin Power & Utilities in the 1st quarter worth about $59,000. NBC Securities Inc. boosted its holdings in Algonquin Power & Utilities by 111,700.0% during the 1st quarter. NBC Securities Inc. now owns 12,298 shares of the utilities provider's stock valued at $63,000 after acquiring an additional 12,287 shares during the period. Finally, Oakwell Private Wealth Management LLC bought a new position in Algonquin Power & Utilities during the 1st quarter valued at approximately $63,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities Price Performance

AQN traded down $0.05 during midday trading on Tuesday, hitting $5.73. The stock had a trading volume of 2,517,590 shares, compared to its average volume of 10,324,396. The business has a fifty day moving average of $5.83 and a 200 day 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 company has a market cap of $4.40 billion, a P/E ratio of -3.18 and a beta of 0.68. Algonquin Power & Utilities Corp. has a 1 year low of $4.19 and a 1 year high of $6.24.

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

Algonquin Power & Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Monday, September 29th. Algonquin Power & Utilities's payout ratio is currently -14.44%.

Analyst Ratings Changes

AQN has been the topic of a number of analyst reports. BMO Capital Markets reaffirmed a "market perform" rating and set a $6.00 target price (up previously from $5.00) on shares of Algonquin Power & Utilities in a research note on Monday, May 12th. TD Securities upgraded shares of Algonquin Power & Utilities to a "hold" rating in a research note on Monday, August 11th. Royal Bank Of Canada upped their price objective on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Desjardins raised their price objective 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. Finally, National Bank Financial upgraded shares of Algonquin Power & Utilities to a "hold" rating in a report on Sunday, June 8th. Twelve investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Algonquin Power & Utilities has an average rating of "Hold" and a consensus target price of $6.31.

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.