Invesco Ltd. Acquires 616,049 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Invesco Ltd. boosted its position in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 6.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,881,130 shares of the utilities provider's stock after acquiring an additional 616,049 shares during the quarter. Invesco Ltd. owned 1.43% of Algonquin Power & Utilities worth $58,496,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Algonquin Power & Utilities in the third quarter worth about $28,000. Power Corp of Canada bought a new stake in shares of Algonquin Power & Utilities during the 1st quarter valued at $31,000. Captrust Financial Advisors lifted its stake in shares of Algonquin Power & Utilities by 66.4% during the 2nd quarter. Captrust Financial Advisors now owns 3,526 shares of the utilities provider's stock valued at $47,000 after buying an additional 1,407 shares in the last quarter. CTC Alternative Strategies Ltd. purchased a new position in shares of Algonquin Power & Utilities during the 3rd quarter valued at $62,000. Finally, Kingswood Wealth Advisors LLC purchased a new stake in Algonquin Power & Utilities in the 3rd quarter worth $70,000. Institutional investors own 52.12% of the company's stock.

Algonquin Power & Utilities Stock Up 2.1 %

AQN stock opened at $5.97 on Monday. Algonquin Power & Utilities Corp. has a one year low of $4.90 and a one year high of $9.14. The stock has a market capitalization of $4.11 billion, a PE ratio of -17.06 and a beta of 0.67. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.50 and a current ratio of 0.66. The company has a fifty day moving average of $6.15 and a 200-day moving average of $6.26.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AQN shares. CIBC increased their price objective on shares of Algonquin Power & Utilities from $7.00 to $7.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 9th. Scotiabank raised their target price on shares of Algonquin Power & Utilities from $7.00 to $7.50 and gave the stock a "sector perform" rating in a research report on Wednesday, January 24th. National Bankshares dropped their price objective on shares of Algonquin Power & Utilities from $7.50 to $7.25 and set a "sector perform" rating on the stock in a research note on Tuesday, January 9th. Finally, BMO Capital Markets upgraded shares of Algonquin Power & Utilities from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $7.00 to $7.50 in a research note on Monday, January 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $7.70.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp., a renewable energy and utility company, that provides energy and water solutions and services in North America and internationally. The company operates through two segments, Regulated Services Group and Renewable Energy Group. The Regulated Services Group segment provides a portfolio of rate-regulated water, electricity, and gas utility services.

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