Jupiter Asset Management Ltd. Purchases Shares of 56,249 Algonquin Power & Utilities Corp. (NYSE:AQN)

Key Points

• Jupiter Asset Management Ltd. recently acquired 56,249 shares of Algonquin Power & Utilities Corp., valued at approximately $289,000, marking its initial investment in the company.
• Algonquin Power & Utilities reported a quarterly earnings per share (EPS) of $0.14, surpassing analyst expectations of $0.09, despite a negative net margin of 48.78%.
• The company declared a quarterly dividend of $0.065 per share, resulting in an annualized dividend yield of 4.4%.

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

Several other institutional investors and hedge funds have also bought and sold shares of the company. Alberta Investment Management Corp raised its position in shares of Algonquin Power & Utilities by 12.7% in the 1st quarter. Alberta Investment Management Corp now owns 5,693,639 shares of the utilities provider's stock valued at $29,252,000 after buying an additional 640,850 shares in the last quarter. US Bancorp DE increased its stake in Algonquin Power & Utilities by 85.7% in the first 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 last quarter. Natixis Advisors LLC raised its position in Algonquin Power & Utilities by 7.9% during the first quarter. Natixis Advisors LLC now owns 113,745 shares of the utilities provider's stock valued at $585,000 after purchasing an additional 8,339 shares in the last quarter. XTX Topco Ltd lifted its stake in Algonquin Power & Utilities by 243.5% during the first quarter. XTX Topco Ltd now owns 89,694 shares of the utilities provider's stock worth $461,000 after purchasing an additional 63,584 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Algonquin Power & Utilities by 5.6% during the first quarter. Mackenzie Financial Corp now owns 544,081 shares of the utilities provider's stock worth $2,794,000 after purchasing an additional 28,909 shares during the last quarter. Institutional investors own 62.28% of the company's stock.

Algonquin Power & Utilities Trading Down 3.3%

NYSE AQN traded down $0.20 during mid-day trading on Friday, reaching $5.73. 4,536,370 shares of the stock were exchanged, compared to its average volume of 10,730,585. The stock has a market cap of $4.40 billion, a P/E ratio of -3.69 and a beta of 0.68. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.16 and a quick ratio of 0.94. Algonquin Power & Utilities Corp. has a one year low of $4.19 and a one year high of $6.24. The stock has a 50 day simple moving average of $5.84 and a 200-day simple moving average of $5.32.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.04. Algonquin Power & Utilities had a positive return on equity of 4.74% and a negative net margin of 48.78%. The company had revenue of $535.59 million for the quarter, compared to the consensus estimate of $535.64 million. During the same period in the previous year, the business earned $0.09 EPS. On average, analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 4.5%. Algonquin Power & Utilities's dividend payout ratio is currently -16.77%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered Algonquin Power & Utilities from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Raymond James Financial raised their price objective on Algonquin Power & Utilities from $5.00 to $6.00 and gave the company a "market perform" rating in a research note on Wednesday, June 4th. Desjardins boosted their target price on Algonquin Power & Utilities from $4.75 to $6.00 and gave the stock a "hold" rating in a research note on Wednesday, June 4th. Scotiabank raised their price target 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. Finally, TD Securities lifted their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a "hold" rating in a report on Wednesday, June 4th. One analyst has rated the stock with a sell rating and twelve have given a hold rating to the stock. Based on data from MarketBeat, the company has an average 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.