Mackenzie Financial Corp Purchases 3,443 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Mackenzie Financial Corp increased its holdings in Algonquin Power & Utilities Corp. (NYSE:AQN) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 459,806 shares of the utilities provider’s stock after purchasing an additional 3,443 shares during the quarter. Mackenzie Financial Corp owned approximately 0.07% of Algonquin Power & Utilities worth $2,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AQN. Pacifica Partners Inc. grew its position in shares of Algonquin Power & Utilities by 1,975.0% in the 4th quarter. Pacifica Partners Inc. now owns 4,150 shares of the utilities provider’s stock worth $26,000 after buying an additional 3,950 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Algonquin Power & Utilities during the 3rd quarter valued at $28,000. CTC Alternative Strategies Ltd. purchased a new position in Algonquin Power & Utilities during the 3rd quarter valued at $62,000. SG Americas Securities LLC bought a new position in Algonquin Power & Utilities in the 4th quarter worth $64,000. Finally, Kingswood Wealth Advisors LLC purchased a new stake in shares of Algonquin Power & Utilities in the 3rd quarter worth about $70,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Price Performance

Shares of NYSE:AQN opened at $6.06 on Tuesday. The business has a fifty day moving average price of $6.03 and a 200-day moving average price of $5.98. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.63 and a quick ratio of 0.50. The company has a market capitalization of $4.18 billion, a PE ratio of 202.00 and a beta of 0.66. Algonquin Power & Utilities Corp. has a 1-year low of $4.90 and a 1-year high of $9.14.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Friday, March 8th. The utilities provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $666.90 million for the quarter, compared to the consensus estimate of $661.73 million. Algonquin Power & Utilities had a net margin of 1.06% and a return on equity of 5.64%. Algonquin Power & Utilities’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 EPS. As a group, equities analysts expect that Algonquin Power & Utilities Corp. will post 0.49 EPS for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.1085 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.43 annualized dividend and a yield of 7.16%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 1,433.33%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AQN. BMO Capital Markets raised shares of Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $7.00 to $7.50 in a research note on Monday, January 8th. CIBC raised their target price on Algonquin Power & Utilities from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. TD Securities upped their price target on Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “hold” rating in a research note on Monday, March 11th. Scotiabank lowered their price objective on Algonquin Power & Utilities from $7.50 to $6.50 and set a “sector perform” rating for the company in a research report on Monday. Finally, National Bankshares dropped their target price on shares of Algonquin Power & Utilities from $7.50 to $7.25 and set a “sector perform” rating on the stock in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.67.

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.