Nuveen Asset Management LLC Grows Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

Nuveen Asset Management LLC increased its holdings in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 237.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,939,576 shares of the utilities provider's stock after purchasing an additional 2,068,510 shares during the quarter. Nuveen Asset Management LLC owned 0.38% of Algonquin Power & Utilities worth $13,040,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Northwest & Ethical Investments L.P. increased its stake in Algonquin Power & Utilities by 6.6% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 50,251 shares of the utilities provider's stock worth $223,000 after buying an additional 3,096 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Algonquin Power & Utilities by 0.4% during the fourth quarter. CIBC Asset Management Inc now owns 935,130 shares of the utilities provider's stock worth $4,141,000 after buying an additional 3,656 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Algonquin Power & Utilities by 40.5% in the fourth quarter. Quadrant Capital Group LLC now owns 17,555 shares of the utilities provider's stock valued at $78,000 after acquiring an additional 5,060 shares in the last quarter. Capstone Investment Advisors LLC increased its holdings in Algonquin Power & Utilities by 59.6% in the fourth quarter. Capstone Investment Advisors LLC now owns 17,060 shares of the utilities provider's stock valued at $76,000 after buying an additional 6,370 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Algonquin Power & Utilities by 18.5% during the fourth quarter. Signaturefd LLC now owns 42,383 shares of the utilities provider's stock worth $189,000 after purchasing an additional 6,602 shares during the last quarter. Institutional investors and hedge funds own 62.28% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AQN. Royal Bank of Canada raised their price target on Algonquin Power & Utilities from $5.50 to $6.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Scotiabank lifted their price target on shares of Algonquin Power & Utilities from $5.50 to $6.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. National Bankshares reduced their price target on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating for the company in a research report on Tuesday, February 11th. CIBC dropped their price objective on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, Wall Street Zen cut shares of Algonquin Power & Utilities from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Algonquin Power & Utilities has a consensus rating of "Hold" and an average price target of $6.03.

Algonquin Power & Utilities Price Performance

AQN stock remained flat at $5.48 during midday trading on Friday. 14,392,072 shares of the company's stock traded hands, compared to its average volume of 8,202,980. Algonquin Power & Utilities Corp. has a 12-month low of $4.19 and a 12-month high of $6.37. The business has a 50-day moving average price of $5.31 and a 200-day moving average price of $4.89. The company has a market cap of $4.21 billion, a price-to-earnings ratio of -4.25 and a beta of 0.67. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. The company had revenue of $692.40 million during the quarter, compared to analysts' expectations of $699.08 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. During the same period in the previous year, the company earned $0.14 EPS. As a group, sell-side analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.065 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.74%. Algonquin Power & Utilities's dividend payout ratio (DPR) is -15.48%.

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.