Public Employees Retirement System of Ohio Invests $1.23 Million in Algonquin Power & Utilities Corp. (NYSE:AQN)

Public Employees Retirement System of Ohio acquired a new position in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 276,349 shares of the utilities provider's stock, valued at approximately $1,226,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SVB Wealth LLC purchased a new position in Algonquin Power & Utilities during the 4th quarter valued at about $49,000. Avantax Advisory Services Inc. purchased a new position in Algonquin Power & Utilities during the 4th quarter valued at about $58,000. Spire Wealth Management grew its stake in Algonquin Power & Utilities by 149.6% during the 4th quarter. Spire Wealth Management now owns 17,000 shares of the utilities provider's stock valued at $76,000 after acquiring an additional 10,190 shares in the last quarter. Capstone Investment Advisors LLC grew its stake in Algonquin Power & Utilities by 59.6% during the 4th quarter. Capstone Investment Advisors LLC now owns 17,060 shares of the utilities provider's stock valued at $76,000 after acquiring an additional 6,370 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in Algonquin Power & Utilities by 40.5% during the 4th 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. Hedge funds and other institutional investors own 62.28% of the company's stock.

Analyst Ratings Changes

AQN has been the topic of several research analyst reports. Raymond James lifted their target price on Algonquin Power & Utilities from $5.00 to $6.00 and gave the company a "market perform" rating in a research note on Wednesday. Scotiabank lifted their target price on Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a "sector perform" rating in a research note on Wednesday. National Bankshares cut Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 price target for the company. in a research note on Wednesday. National Bank Financial cut Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 price target for the company. in a research note on Wednesday. Finally, TD Securities boosted their price target on Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a "hold" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating and twelve have given a hold rating to the company's stock. According to MarketBeat.com, Algonquin Power & Utilities presently has an average rating of "Hold" and an average price target of $6.31.

Algonquin Power & Utilities Stock Performance

AQN traded up $0.02 on Friday, hitting $5.86. The company had a trading volume of 13,506,799 shares, compared to its average volume of 8,576,460. The company's fifty day moving average price is $5.38 and its 200 day moving average price is $4.93. Algonquin Power & Utilities Corp. has a 1-year low of $4.19 and a 1-year high of $6.36. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of -4.54 and a beta of 0.67.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its earnings results on Friday, May 9th. The utilities provider reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.05. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The firm had revenue of $692.40 million during the quarter, compared to analyst estimates of $699.08 million. During the same period in the previous year, the company earned $0.14 EPS. Equities analysts predict that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.065 per share. The ex-dividend date is Monday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.44%. Algonquin Power & Utilities's dividend payout ratio (DPR) is presently -15.48%.

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.