Jupiter Asset Management Ltd. Makes New $289,000 Investment in Algonquin Power & Utilities Corp. (NYSE:AQN)

Jupiter Asset Management Ltd. purchased a new position in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 56,249 shares of the utilities provider's stock, valued at approximately $289,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in shares of Algonquin Power & Utilities by 16.3% in the 1st quarter. Bank of New York Mellon Corp now owns 14,809 shares of the utilities provider's stock valued at $76,000 after purchasing an additional 2,073 shares in the last quarter. US Bancorp DE lifted its stake in shares of 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 purchasing an additional 2,256 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Algonquin Power & Utilities by 40.5% in the 4th quarter. Quadrant Capital Group LLC now owns 17,555 shares of the utilities provider's stock valued at $78,000 after purchasing an additional 5,060 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Algonquin Power & Utilities by 5.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 114,834 shares of the utilities provider's stock valued at $583,000 after purchasing an additional 5,693 shares in the last quarter. Finally, Signaturefd LLC lifted its position in Algonquin Power & Utilities by 14.6% during the 1st quarter. Signaturefd LLC now owns 48,586 shares of the utilities provider's stock worth $250,000 after acquiring an additional 6,203 shares in the last quarter. 62.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AQN has been the topic of several recent research reports. Scotiabank boosted their price target on 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. National Bankshares lowered Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 price target on the stock. in a research report on Wednesday, June 4th. TD Securities boosted their price target on Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a "hold" rating in a research report on Wednesday, June 4th. National Bank Financial raised Algonquin Power & Utilities to a "hold" rating in a research report on Sunday, June 8th. Finally, CIBC boosted their price target on Algonquin Power & Utilities from $5.75 to $6.25 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to data from MarketBeat.com, Algonquin Power & Utilities has an average rating of "Hold" and a consensus target price of $6.31.

Algonquin Power & Utilities Price Performance

AQN stock opened at $6.01 on Tuesday. Algonquin Power & Utilities Corp. has a 52-week low of $4.19 and a 52-week high of $6.26. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $4.61 billion, a PE ratio of -3.87 and a beta of 0.68. The stock's 50 day moving average is $5.82 and its two-hundred day moving average is $5.30.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.05. Algonquin Power & Utilities had a positive return on equity of 4.74% and a negative net margin of 48.78%. The business had revenue of $692.40 million during the quarter, compared to the consensus estimate of $699.08 million. During the same period in the previous year, the business earned $0.14 EPS. Analysts predict 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 was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, June 30th. Algonquin Power & Utilities's dividend payout ratio is presently -16.77%.

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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