Algonquin Power & Utilities Corp. (AQN) Short Interest Update

Algonquin Power & Utilities Corp. (NYSE:AQN) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 691,092 shares, a decline of 45.4% from the April 28th total of 1,264,718 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average daily volume of 97,134 shares, the short-interest ratio is presently 7.1 days.

AQN has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Algonquin Power & Utilities Corp. from a “sell” rating to a “hold” rating in a report on Monday, May 8th. J P Morgan Chase & Co initiated coverage on shares of Algonquin Power & Utilities Corp. in a report on Monday, February 27th. They set a “neutral” rating on the stock.

Several large investors have recently bought and sold shares of the company. Barometer Capital Management Inc. boosted its position in shares of Algonquin Power & Utilities Corp. by 109.5% in the first quarter. Barometer Capital Management Inc. now owns 3,185,783 shares of the utilities provider’s stock worth $30,520,000 after buying an additional 1,664,783 shares during the period. LGT Capital Partners LTD. boosted its position in shares of Algonquin Power & Utilities Corp. by 15.9% in the first quarter. LGT Capital Partners LTD. now owns 800,000 shares of the utilities provider’s stock worth $7,620,000 after buying an additional 110,000 shares during the period. Bank of Montreal Can boosted its position in shares of Algonquin Power & Utilities Corp. by 66.2% in the first quarter. Bank of Montreal Can now owns 14,216,471 shares of the utilities provider’s stock worth $136,194,000 after buying an additional 5,661,282 shares during the period. Davis Rea LTD. acquired a new position in shares of Algonquin Power & Utilities Corp. during the first quarter worth about $123,000. Finally, C WorldWide Group Holding A S acquired a new position in shares of Algonquin Power & Utilities Corp. during the first quarter worth about $3,352,000. 39.62% of the stock is owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Corp. (AQN) traded down 0.19% during trading on Monday, reaching $10.65. 70,724 shares of the company traded hands. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of 73.45 and a beta of 0.82. Algonquin Power & Utilities Corp. has a 12-month low of $7.75 and a 12-month high of $10.78. The firm’s 50 day moving average price is $10.05 and its 200 day moving average price is $9.25.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be given a $0.1165 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $0.47 annualized dividend and a dividend yield of 4.38%. Algonquin Power & Utilities Corp.’s dividend payout ratio is 174.07%.

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