Ballentine Partners LLC Has $135,000 Stock Position in Algonquin Power & Utilities Corp. $AQN

Ballentine Partners LLC boosted its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 10.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 23,484 shares of the utilities provider’s stock after buying an additional 2,242 shares during the period. Ballentine Partners LLC’s holdings in Algonquin Power & Utilities were worth $135,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. EdgePoint Investment Group Inc. raised its holdings in Algonquin Power & Utilities by 84.9% during the 1st quarter. EdgePoint Investment Group Inc. now owns 42,223,594 shares of the utilities provider’s stock worth $216,868,000 after buying an additional 19,392,805 shares during the period. Vanguard Group Inc. raised its holdings in Algonquin Power & Utilities by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 31,715,401 shares of the utilities provider’s stock worth $162,859,000 after buying an additional 204,473 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Algonquin Power & Utilities by 0.7% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,139,562 shares of the utilities provider’s stock worth $67,487,000 after buying an additional 88,439 shares during the period. Goldman Sachs Group Inc. raised its holdings in Algonquin Power & Utilities by 65.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock worth $62,738,000 after buying an additional 4,808,539 shares during the period. Finally, Southpoint Capital Advisors LP acquired a new stake in Algonquin Power & Utilities during the 1st quarter worth approximately $51,400,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AQN has been the topic of several research analyst reports. Royal Bank Of Canada raised their target price on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “sector perform” rating in a report on Wednesday, June 4th. CIBC lifted their price objective on shares of Algonquin Power & Utilities from $5.75 to $6.25 and gave the company a “neutral” rating in a report on Wednesday, June 4th. Raymond James Financial lifted their price objective on shares of Algonquin Power & Utilities from $5.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, June 4th. National Bank Financial upgraded shares of Algonquin Power & Utilities to a “hold” rating in a report on Sunday, June 8th. Finally, Scotiabank lifted their price objective on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “sector perform” rating in a report on Wednesday, June 4th. Eleven analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.34.

Algonquin Power & Utilities Trading Down 0.6%

AQN stock opened at $5.37 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.09 and a quick ratio of 0.86. The company has a fifty day moving average price of $5.72 and a two-hundred day moving average price of $5.57. Algonquin Power & Utilities Corp. has a one year low of $4.19 and a one year high of $6.24. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of -2.98 and a beta of 0.69.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Friday, August 8th. The utilities provider reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. The firm had revenue of $535.59 million during the quarter, compared to analysts’ expectations of $535.64 million. During the same period in the previous year, the business posted $0.09 earnings per share. Equities analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, September 29th. Algonquin Power & Utilities’s payout ratio is presently -14.44%.

About Algonquin Power & Utilities

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.