Quantbot Technologies LP Has $4.43 Million Stake in Algonquin Power & Utilities Corp. $AQN

Key Points

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Quantbot Technologies LP increased its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 18.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 862,033 shares of the utilities provider's stock after buying an additional 133,726 shares during the period. Quantbot Technologies LP owned 0.11% of Algonquin Power & Utilities worth $4,431,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AQN. Northwest & Ethical Investments L.P. lifted its stake in Algonquin Power & Utilities by 23.5% in the first quarter. Northwest & Ethical Investments L.P. now owns 62,061 shares of the utilities provider's stock valued at $319,000 after acquiring an additional 11,810 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Algonquin Power & Utilities by 4.3% in the 1st quarter. American Century Companies Inc. now owns 221,931 shares of the utilities provider's stock valued at $1,140,000 after purchasing an additional 9,051 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Algonquin Power & Utilities in the 1st quarter valued at about $31,000. Russell Investments Group Ltd. grew its holdings in Algonquin Power & Utilities by 25.9% during the first quarter. Russell Investments Group Ltd. now owns 104,156 shares of the utilities provider's stock worth $535,000 after purchasing an additional 21,401 shares during the period. Finally, Nuveen LLC bought a new position in Algonquin Power & Utilities during the first quarter worth about $13,293,000. 62.28% of the stock is owned by institutional investors.

Algonquin Power & Utilities Stock Performance

Shares of NYSE AQN traded up $0.0150 during trading hours on Friday, reaching $5.8150. 4,955,696 shares of the stock were exchanged, compared to its average volume of 6,627,760. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of -3.23 and a beta of 0.67. The stock's fifty day simple moving average is $5.84 and its 200 day simple moving average is $5.42. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 1.09. Algonquin Power & Utilities Corp. has a 52 week low of $4.19 and a 52 week high of $6.24.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $535.59 million during the quarter, compared to the consensus estimate of $535.64 million. Algonquin Power & Utilities had a positive return on equity of 4.76% and a negative net margin of 57.66%.During the same period in the previous year, the company posted $0.09 EPS. Sell-side analysts predict that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current year.

Algonquin Power & Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.065 dividend. The ex-dividend date is Monday, September 29th. This represents a $0.26 annualized dividend and a dividend yield of 4.5%. Algonquin Power & Utilities's dividend payout ratio is -14.44%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Desjardins upped their price objective on Algonquin Power & Utilities from $4.75 to $6.00 and gave the company a "hold" rating in a research note on Wednesday, June 4th. National Bank Financial raised Algonquin Power & Utilities to a "hold" rating in a report on Sunday, June 8th. Wall Street Zen downgraded Algonquin Power & Utilities from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. National Bankshares cut shares of Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 price objective for the company. in a research report on Wednesday, June 4th. Finally, TD Securities upgraded shares of Algonquin Power & Utilities to a "hold" rating in a report on Monday, August 11th. Twelve equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $6.31.

About Algonquin Power & Utilities

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.