Algonquin Power & Utilities Corp. (NYSE:AQN) Shares Purchased by Signaturefd LLC

Signaturefd LLC boosted its stake in Algonquin Power & Utilities Corp. (NYSE:AQN) by 18.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 42,383 shares of the utilities provider’s stock after purchasing an additional 6,602 shares during the period. Signaturefd LLC’s holdings in Algonquin Power & Utilities were worth $189,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AQN. Swiss National Bank increased its holdings in Algonquin Power & Utilities by 10.4% in the 3rd quarter. Swiss National Bank now owns 1,433,000 shares of the utilities provider’s stock valued at $7,843,000 after purchasing an additional 135,400 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Algonquin Power & Utilities by 14.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 163,335 shares of the utilities provider’s stock valued at $890,000 after purchasing an additional 20,731 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Algonquin Power & Utilities by 10.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,211,241 shares of the utilities provider’s stock valued at $12,095,000 after purchasing an additional 206,490 shares during the last quarter. Raymond James Trust N.A. increased its holdings in Algonquin Power & Utilities by 33.4% in the 3rd quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider’s stock valued at $73,000 after purchasing an additional 3,343 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in Algonquin Power & Utilities by 6.0% in the 3rd quarter. Bank of Montreal Can now owns 20,882,966 shares of the utilities provider’s stock valued at $115,175,000 after purchasing an additional 1,190,236 shares during the last quarter. Institutional investors and hedge funds own 62.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. National Bankshares dropped their target price 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. Royal Bank of Canada dropped their price target on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. Scotiabank boosted their price target on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $7.00 price target on shares of Algonquin Power & Utilities in a research note on Thursday, December 12th. One 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. According to MarketBeat.com, Algonquin Power & Utilities currently has a consensus rating of “Hold” and an average price target of $5.94.

Algonquin Power & Utilities Price Performance

Algonquin Power & Utilities stock opened at $5.13 on Friday. The stock has a market cap of $3.93 billion, a P/E ratio of -3.97 and a beta of 0.70. The company has a fifty day simple moving average of $4.70 and a 200-day simple moving average of $4.84. Algonquin Power & Utilities Corp. has a 12-month low of $4.19 and a 12-month high of $6.79. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly 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 negative net margin of 39.12% and a positive return on equity of 5.22%. The company had revenue of $584.80 million during the quarter, compared to analysts’ expectations of $644.73 million. Equities analysts expect that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.065 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.26 dividend on an annualized basis and a yield of 5.07%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently -14.44%.

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.