Aigen Investment Management LP Makes New Investment in Algonquin Power & Utilities Corp. (NYSE:AQN)

Aigen Investment Management LP purchased a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 58,931 shares of the utilities provider’s stock, valued at approximately $262,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in AQN. Private Advisor Group LLC grew its holdings in shares of Algonquin Power & Utilities by 14.1% during the third quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider’s stock worth $97,000 after purchasing an additional 2,201 shares during the last quarter. Van ECK Associates Corp bought a new stake in shares of Algonquin Power & Utilities during the third quarter worth about $1,058,000. Fiera Capital Corp bought a new stake in shares of Algonquin Power & Utilities during the third quarter worth about $96,000. Verdence Capital Advisors LLC bought a new stake in shares of Algonquin Power & Utilities during the third quarter worth about $61,000. Finally, Entropy Technologies LP bought a new stake in shares of Algonquin Power & Utilities during the third quarter worth about $1,034,000. 62.28% of the stock is currently owned by institutional investors.

Algonquin Power & Utilities Price Performance

Algonquin Power & Utilities stock opened at $4.79 on Friday. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of -3.71 and a beta of 0.71. Algonquin Power & Utilities Corp. has a 52-week low of $4.19 and a 52-week high of $6.79. The stock’s 50 day moving average price is $4.59 and its two-hundred day moving average price is $4.86. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92.

Algonquin Power & Utilities (NYSE:AQN) last issued its earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share 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 firm had revenue of $584.80 million for the quarter, compared to analyst estimates of $644.73 million. On average, equities analysts predict that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date of this dividend is Monday, March 31st. Algonquin Power & Utilities’s payout ratio is -14.44%.

Analysts Set New Price Targets

Several research firms have recently weighed in on AQN. JPMorgan Chase & Co. restated a “neutral” rating and set a $7.00 price target on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. Scotiabank upped their target price 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. National Bankshares reduced their target price on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Finally, Royal Bank of Canada reduced their target price on 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. One analyst has rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Algonquin Power & Utilities Company 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.