XTX Topco Ltd Has $461,000 Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

Key Points

• XTX Topco Ltd increased its stake in Algonquin Power & Utilities Corp. by 243.5% during the first quarter, bringing its total holdings to 89,694 shares worth approximately $461,000.
• Other institutional investors, such as Starboard Value LP and EdgePoint Investment Group Inc., also increased their stakes, indicating growing interest in the utilities provider.
• Algonquin Power & Utilities reported earnings of $0.14 EPS, exceeding analysts' expectations, despite revenue for the quarter slightly falling short of estimates.

XTX Topco Ltd lifted its position in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 243.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,694 shares of the utilities provider's stock after acquiring an additional 63,584 shares during the period. XTX Topco Ltd's holdings in Algonquin Power & Utilities were worth $461,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AQN. Bank of New York Mellon Corp raised its holdings in Algonquin Power & Utilities by 16.3% in the first quarter. Bank of New York Mellon Corp now owns 14,809 shares of the utilities provider's stock worth $76,000 after purchasing an additional 2,073 shares during the period. Quadrant Capital Group LLC raised its holdings in 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 worth $78,000 after purchasing an additional 5,060 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Algonquin Power & Utilities by 5.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 114,834 shares of the utilities provider's stock worth $583,000 after purchasing an additional 5,693 shares during the period. Signaturefd LLC raised its holdings in Algonquin Power & Utilities by 14.6% in the first quarter. Signaturefd LLC now owns 48,586 shares of the utilities provider's stock worth $250,000 after purchasing an additional 6,203 shares during the period. Finally, Capstone Investment Advisors LLC raised 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 worth $76,000 after purchasing an additional 6,370 shares during the period. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Raymond James Financial increased their target price on shares of Algonquin Power & Utilities from $5.00 to $6.00 and gave the stock a "market perform" rating in a report on Wednesday, June 4th. Scotiabank raised their price objective on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. TD Securities raised their price objective on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a "hold" rating in a report on Wednesday, June 4th. Wall Street Zen downgraded shares of Algonquin Power & Utilities from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $6.00 price objective (up from $5.00) on shares of Algonquin Power & Utilities in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company's stock. According to data from 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

NYSE AQN traded up $0.06 during trading on Tuesday, reaching $5.74. The company's stock had a trading volume of 2,325,372 shares, compared to its average volume of 10,656,195. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of -3.19 and a beta of 0.68. Algonquin Power & Utilities Corp. has a 12 month low of $4.19 and a 12 month high of $6.24. The firm has a 50 day moving average price of $5.85 and a 200 day moving average price of $5.35.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.04. The firm had revenue of $535.59 million during the quarter, compared to the consensus estimate of $535.64 million. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.60%. During the same quarter in the previous year, the firm posted $0.09 EPS. As a group, equities analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

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

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.