Manning & Napier Advisors LLC Raises Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

Manning & Napier Advisors LLC increased its position in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 10.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,375,000 shares of the utilities provider's stock after buying an additional 125,000 shares during the quarter. Manning & Napier Advisors LLC owned about 0.18% of Algonquin Power & Utilities worth $7,068,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Packer & Co Ltd purchased a new position in shares of Algonquin Power & Utilities in the 1st quarter worth about $23,197,000. CWA Asset Management Group LLC raised its holdings in Algonquin Power & Utilities by 40.4% in the first quarter. CWA Asset Management Group LLC now owns 285,680 shares of the utilities provider's stock valued at $1,468,000 after buying an additional 82,200 shares during the period. Sowell Financial Services LLC purchased a new position in Algonquin Power & Utilities in the first quarter valued at approximately $59,000. Krilogy Financial LLC raised its holdings in Algonquin Power & Utilities by 14.8% in the first quarter. Krilogy Financial LLC now owns 1,861,445 shares of the utilities provider's stock valued at $9,568,000 after buying an additional 240,400 shares during the period. Finally, Alpha Omega Wealth Management LLC raised its holdings in Algonquin Power & Utilities by 18.5% in the first quarter. Alpha Omega Wealth Management LLC now owns 444,600 shares of the utilities provider's stock valued at $2,285,000 after buying an additional 69,500 shares during the period. 62.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Scotiabank raised their target price 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. TD Securities raised their target price on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a "hold" rating in a research note on Wednesday, June 4th. BMO Capital Markets reissued a "market perform" rating and issued a $6.00 price objective (up from $5.00) on shares of Algonquin Power & Utilities in a research report on Monday, May 12th. CIBC raised their price objective on Algonquin Power & Utilities from $5.75 to $6.25 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, 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 report on Wednesday, June 4th. One analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $6.31.

Algonquin Power & Utilities Stock Down 0.8%

Shares of NYSE AQN opened at $5.71 on Monday. Algonquin Power & Utilities Corp. has a 1 year low of $4.19 and a 1 year high of $6.36. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of -3.68 and a beta of 0.67. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.94 and a current ratio of 1.16. The stock's 50-day simple moving average is $5.56 and its 200-day simple moving average is $5.00.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $692.40 million for 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. As a group, equities analysts anticipate 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 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 of this dividend is Monday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.56%. Algonquin Power & Utilities's dividend payout ratio (DPR) 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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