Two Sigma Advisers LP Raises Stock Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

Two Sigma Advisers LP boosted its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 2,961.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,718,300 shares of the utilities provider's stock after buying an additional 2,629,500 shares during the quarter. Two Sigma Advisers LP owned 0.35% of Algonquin Power & Utilities worth $12,096,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AQN. Barclays PLC grew its stake in shares of Algonquin Power & Utilities by 33.2% during the 3rd quarter. Barclays PLC now owns 829,508 shares of the utilities provider's stock worth $4,522,000 after purchasing an additional 206,603 shares during the period. Tallon Kerry Patrick acquired a new stake in shares of Algonquin Power & Utilities during the 4th quarter worth approximately $141,000. Ballentine Partners LLC acquired a new stake in shares of Algonquin Power & Utilities during the 4th quarter worth approximately $63,000. Duncan Williams Asset Management LLC acquired a new stake in shares of Algonquin Power & Utilities during the 4th quarter worth approximately $88,000. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of Algonquin Power & Utilities during the 4th quarter worth approximately $106,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Price Performance

AQN traded down $0.19 on Wednesday, hitting $5.43. 4,285,944 shares of the company's stock were exchanged, compared to its average volume of 8,093,506. Algonquin Power & Utilities Corp. has a fifty-two week low of $4.19 and a fifty-two week high of $6.59. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. The firm has a 50-day moving average price of $5.29 and a 200-day moving average price of $4.88. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of -4.21 and a beta of 0.67.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.14 EPS 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 business had revenue of $692.40 million for the quarter, compared to analyst estimates of $699.08 million. During the same quarter in the previous year, the firm 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 year.

Algonquin Power & Utilities Announces Dividend

The business 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 of this dividend is Monday, June 30th. This represents a $0.26 annualized dividend and a dividend yield of 4.79%. Algonquin Power & Utilities's dividend payout ratio is presently -15.48%.

Wall Street Analysts Forecast Growth

AQN has been the topic of a number of research analyst reports. 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. National Bankshares dropped their price target on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating on the stock in a research note on Tuesday, February 11th. BMO Capital Markets reissued a "market perform" rating and issued a $6.00 price target (up previously from $5.00) on shares of Algonquin Power & Utilities in a research note on Monday, May 12th. Royal Bank of Canada 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 note on Monday, May 12th. Finally, 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 note on Monday, May 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $6.03.

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.