Vanguard Group Inc. Has $152.25 Million Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

Vanguard Group Inc. increased its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,717,759 shares of the utilities provider's stock after purchasing an additional 413,104 shares during the period. Vanguard Group Inc. owned approximately 3.73% of Algonquin Power & Utilities worth $152,249,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Algonquin Power & Utilities during the third quarter valued at approximately $28,000. Power Corp of Canada purchased a new stake in shares of Algonquin Power & Utilities in the first quarter valued at $31,000. Tower Research Capital LLC TRC raised its stake in shares of Algonquin Power & Utilities by 970.3% in the third quarter. Tower Research Capital LLC TRC now owns 7,535 shares of the utilities provider's stock valued at $45,000 after acquiring an additional 6,831 shares during the period. Captrust Financial Advisors increased its stake in Algonquin Power & Utilities by 66.4% in the 2nd quarter. Captrust Financial Advisors now owns 3,526 shares of the utilities provider's stock worth $47,000 after buying an additional 1,407 shares during the period. Finally, CTC Alternative Strategies Ltd. purchased a new position in Algonquin Power & Utilities in the 3rd quarter worth about $62,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on AQN shares. BMO Capital Markets raised 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 report on Monday, January 8th. CIBC raised their price target 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. TD Securities raised their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a "hold" rating in a research report on Monday, March 11th. Scotiabank raised their price target 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. Finally, Desjardins raised shares of Algonquin Power & Utilities from a "sell" rating to a "hold" rating and raised their price target for the stock from $4.75 to $5.75 in a research report on Monday, March 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Algonquin Power & Utilities presently has an average rating of "Hold" and a consensus price target of $7.85.

Algonquin Power & Utilities Stock Performance

Shares of NYSE:AQN traded up $0.01 during trading on Tuesday, hitting $6.23. 4,537,283 shares of the stock traded hands, compared to its average volume of 4,778,941. The company has a quick ratio of 0.50, a current ratio of 0.63 and a debt-to-equity ratio of 1.23. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 207.50, a P/E/G ratio of 5.19 and a beta of 0.66. The company has a fifty day moving average price of $6.00 and a two-hundred day moving average price of $6.01. Algonquin Power & Utilities Corp. has a 52-week low of $4.90 and a 52-week high of $9.14.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its earnings results on Friday, March 8th. The utilities provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $666.90 million during the quarter, compared to analyst estimates of $661.73 million. Algonquin Power & Utilities had a net margin of 1.06% and a return on equity of 5.64%. The business's quarterly revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS. As a group, equities analysts predict that Algonquin Power & Utilities Corp. will post 0.49 EPS for the current year.

Algonquin Power & Utilities Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be paid a $0.1085 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.43 dividend on an annualized basis and a yield of 6.97%. Algonquin Power & Utilities's dividend payout ratio is currently 1,433.33%.

Algonquin Power & Utilities Profile

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.