Algonquin Power & Utilities Corp. (NYSE:AQN) Position Raised by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 592.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,312,392 shares of the utilities provider's stock after acquiring an additional 1,122,992 shares during the period. Renaissance Technologies LLC owned 0.17% of Algonquin Power & Utilities worth $5,840,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. SVB Wealth LLC acquired a new position in shares of Algonquin Power & Utilities in the 4th quarter valued at $49,000. Avantax Advisory Services Inc. purchased a new stake in Algonquin Power & Utilities during the fourth quarter valued at about $58,000. Ballentine Partners LLC acquired a new stake in Algonquin Power & Utilities during the fourth quarter worth about $63,000. Spire Wealth Management raised its holdings in shares of Algonquin Power & Utilities by 149.6% in the 4th quarter. Spire Wealth Management now owns 17,000 shares of the utilities provider's stock worth $76,000 after purchasing an additional 10,190 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in shares of Algonquin Power & Utilities by 40.5% in the 4th quarter. Quadrant Capital Group LLC now owns 17,555 shares of the utilities provider's stock valued at $78,000 after purchasing an additional 5,060 shares in the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on AQN shares. Scotiabank raised their price target on shares of 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 reduced their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a "sector perform" rating on the stock in a report on Tuesday, February 18th. Finally, National Bankshares cut their price objective on Algonquin Power & Utilities from $6.75 to $6.25 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Algonquin Power & Utilities currently has an average rating of "Hold" and a consensus target price of $5.94.

Algonquin Power & Utilities Stock Up 0.7 %

AQN traded up $0.04 on Thursday, reaching $5.28. The company's stock had a trading volume of 3,075,549 shares, compared to its average volume of 7,418,971. The business's 50 day moving average is $5.00 and its 200 day moving average is $4.79. Algonquin Power & Utilities Corp. has a 1 year low of $4.19 and a 1 year high of $6.79. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of -4.09 and a beta of 0.65. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last issued its quarterly earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.04). Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The company had revenue of $584.80 million during the quarter, compared to the consensus estimate of $644.73 million. As a group, research analysts forecast that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.065 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.26 dividend on an annualized basis and a yield of 4.93%. Algonquin Power & Utilities's dividend payout ratio (DPR) is -14.44%.

About Algonquin Power & Utilities

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.