Algonquin Power & Utilities Corp. (NYSE:AQN) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank lifted its stake in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 40.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,910,535 shares of the utilities provider's stock after purchasing an additional 2,267,343 shares during the period. Toronto Dominion Bank owned about 1.03% of Algonquin Power & Utilities worth $35,066,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SVB Wealth LLC acquired a new position in shares of Algonquin Power & Utilities during the 4th quarter worth about $49,000. Avantax Advisory Services Inc. purchased a new stake in Algonquin Power & Utilities in the fourth quarter valued at approximately $58,000. Ballentine Partners LLC acquired a new stake in Algonquin Power & Utilities during the 4th quarter worth $63,000. Spire Wealth Management grew its holdings in shares of Algonquin Power & Utilities by 149.6% during the fourth quarter. Spire Wealth Management now owns 17,000 shares of the utilities provider's stock worth $76,000 after buying an additional 10,190 shares during the last quarter. Finally, Capstone Investment Advisors LLC grew its stake in shares of Algonquin Power & Utilities by 59.6% in the 4th quarter. Capstone Investment Advisors LLC now owns 17,060 shares of the utilities provider's stock valued at $76,000 after purchasing an additional 6,370 shares during the last quarter. Hedge funds and other institutional investors own 62.28% of the company's stock.

Algonquin Power & Utilities Trading Up 0.4%

Shares of Algonquin Power & Utilities stock traded up $0.02 during trading hours on Thursday, hitting $5.50. The company's stock had a trading volume of 13,319,435 shares, compared to its average volume of 8,005,705. The business has a fifty day moving average of $5.25 and a 200 day moving average of $4.85. Algonquin Power & Utilities Corp. has a 1-year low of $4.19 and a 1-year high of $6.72. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $4.22 billion, a PE ratio of -4.26 and a beta of 0.67.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $692.40 million during the quarter, compared to the consensus estimate of $699.08 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. During the same period in the prior year, the firm earned $0.14 EPS. As a group, equities analysts forecast that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current year.

Algonquin Power & Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend is Monday, June 30th. Algonquin Power & Utilities's payout ratio is -15.48%.

Analysts Set New Price Targets

Several research firms recently issued reports on AQN. BMO Capital Markets reissued a "market perform" rating and set a $6.00 price target (up from $5.00) on shares of Algonquin Power & Utilities in a report on Monday, May 12th. Scotiabank increased their price objective on shares of Algonquin Power & Utilities from $5.50 to $6.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. Wall Street Zen downgraded Algonquin Power & Utilities from a "hold" rating to a "sell" rating in a research report on Wednesday. National Bankshares cut their price objective 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. Finally, Royal Bank of Canada increased their target price on Algonquin Power & Utilities from $5.50 to $6.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Algonquin Power & Utilities presently has a consensus rating of "Hold" and an average price target of $6.03.

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.