Algonquin Power & Utilities Corp. (NYSE:AQN) Holdings Lifted by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQNFree Report) by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,682,201 shares of the utilities provider’s stock after buying an additional 187,687 shares during the quarter. Allianz Asset Management GmbH owned 0.24% of Algonquin Power & Utilities worth $10,665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AQN. Vanguard Group Inc. grew its stake in Algonquin Power & Utilities by 1.6% in the third quarter. Vanguard Group Inc. now owns 25,717,759 shares of the utilities provider’s stock valued at $152,249,000 after purchasing an additional 413,104 shares in the last quarter. Toronto Dominion Bank grew its stake in Algonquin Power & Utilities by 7.9% in the third quarter. Toronto Dominion Bank now owns 13,293,748 shares of the utilities provider’s stock valued at $78,699,000 after purchasing an additional 978,758 shares in the last quarter. Invesco Ltd. grew its stake in Algonquin Power & Utilities by 6.6% in the third quarter. Invesco Ltd. now owns 9,881,130 shares of the utilities provider’s stock valued at $58,496,000 after purchasing an additional 616,049 shares in the last quarter. National Bank of Canada FI grew its stake in Algonquin Power & Utilities by 5.7% in the fourth quarter. National Bank of Canada FI now owns 9,602,819 shares of the utilities provider’s stock valued at $61,848,000 after purchasing an additional 516,148 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Algonquin Power & Utilities by 1.2% in the third quarter. Legal & General Group Plc now owns 8,292,660 shares of the utilities provider’s stock valued at $49,312,000 after purchasing an additional 99,374 shares in the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Price Performance

NYSE AQN opened at $6.30 on Tuesday. Algonquin Power & Utilities Corp. has a twelve month low of $4.90 and a twelve month high of $8.74. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.79 and a current ratio of 0.98. The stock has a market capitalization of $4.34 billion, a PE ratio of -12.90 and a beta of 0.68. The stock has a 50-day simple moving average of $6.30 and a 200 day simple moving average of $6.18.

Algonquin Power & Utilities (NYSE:AQNGet Free Report) last posted its quarterly earnings data on Friday, May 10th. The utilities provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Algonquin Power & Utilities had a positive return on equity of 5.39% and a negative net margin of 12.44%. The business had revenue of $737.10 million for the quarter, compared to analyst estimates of $813.38 million. During the same period in the prior year, the firm posted $0.17 EPS. Algonquin Power & Utilities’s revenue for the quarter was down 5.3% on a year-over-year basis. Research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.44 EPS for the current year.

Algonquin Power & Utilities Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.108 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.43 annualized dividend and a dividend yield of 6.86%. Algonquin Power & Utilities’s dividend payout ratio is presently -87.76%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wells Fargo & Company boosted their target price on Algonquin Power & Utilities from $8.00 to $8.50 and gave the company an “overweight” rating in a research note on Monday, May 13th. Desjardins reduced their price target on Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating for the company in a research report on Monday, May 13th. Scotiabank reduced their price target 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, April 22nd. StockNews.com raised Algonquin Power & Utilities to a “sell” rating in a research report on Friday, May 10th. Finally, National Bankshares boosted their price target on Algonquin Power & Utilities from $6.75 to $7.25 and gave the stock a “sector perform” rating in a research report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Algonquin Power & Utilities currently has a consensus rating of “Hold” and an average price target of $7.44.

Check Out Our Latest Analysis on AQN

About Algonquin Power & Utilities

(Free Report)

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.

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Institutional Ownership by Quarter for Algonquin Power & Utilities (NYSE:AQN)

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