Geode Capital Management LLC Boosts Stake in Algonquin Power & Utilities Corp. (NYSE:AQN)

Geode Capital Management LLC raised its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,240,480 shares of the utilities provider's stock after purchasing an additional 61,015 shares during the period. Geode Capital Management LLC owned 0.16% of Algonquin Power & Utilities worth $5,520,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwest & Ethical Investments L.P. increased its holdings in shares of Algonquin Power & Utilities by 6.6% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 50,251 shares of the utilities provider's stock worth $223,000 after buying an additional 3,096 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Algonquin Power & Utilities by 0.4% during the fourth quarter. CIBC Asset Management Inc now owns 935,130 shares of the utilities provider's stock valued at $4,141,000 after purchasing an additional 3,656 shares during the period. Signaturefd LLC grew its stake in Algonquin Power & Utilities by 18.5% in the 4th quarter. Signaturefd LLC now owns 42,383 shares of the utilities provider's stock worth $189,000 after acquiring an additional 6,602 shares in the last quarter. Van ECK Associates Corp grew its stake in Algonquin Power & Utilities by 4.1% in the fourth quarter. Van ECK Associates Corp now owns 221,307 shares of the utilities provider's stock worth $982,000 after purchasing an additional 8,620 shares in the last quarter. Finally, Swiss National Bank raised its position in Algonquin Power & Utilities by 0.6% during the 4th quarter. Swiss National Bank now owns 1,441,700 shares of the utilities provider's stock valued at $6,396,000 after purchasing an additional 8,700 shares in the last quarter. 62.28% of the stock is owned by institutional investors.

Algonquin Power & Utilities Price Performance

Shares of Algonquin Power & Utilities stock traded up $0.02 during trading hours on Thursday, reaching $5.40. 997,090 shares of the company's stock were exchanged, compared to its average volume of 7,537,424. The business has a fifty day moving average of $5.04 and a two-hundred day moving average of $4.80. 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 $4.14 billion, a P/E ratio of -4.18 and a beta of 0.65. Algonquin Power & Utilities Corp. has a 1 year low of $4.19 and a 1 year high of $6.79.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its quarterly earnings data on Friday, March 7th. The utilities provider reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.04). The business had revenue of $584.80 million during the quarter, compared to analyst estimates of $644.73 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. As a group, research 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 company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend was Monday, March 31st. Algonquin Power & Utilities's dividend payout ratio (DPR) is presently -14.44%.

Analyst Ratings Changes

Several analysts recently weighed in on AQN shares. Scotiabank lifted their price objective on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a "sector perform" rating in a report on Thursday, February 13th. Royal Bank of Canada cut their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating on the stock in a research report on Tuesday, February 18th. CIBC decreased their target price on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, 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 report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Algonquin Power & Utilities presently has an average rating of "Hold" and a consensus target price of $5.92.

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.