Pendal Group Ltd acquired a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN – Get Rating) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 52,223 shares of the utilities provider's stock, valued at approximately $342,000.

Several other institutional investors have also recently added to or reduced their stakes in AQN. EverSource Wealth Advisors LLC purchased a new stake in Algonquin Power & Utilities during the third quarter worth about $81,000. Pictet Asset Management SA boosted its position in Algonquin Power & Utilities by 1.3% in the 3rd quarter. Pictet Asset Management SA now owns 247,920 shares of the utilities provider's stock valued at $2,722,000 after buying an additional 3,288 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of Algonquin Power & Utilities by 2.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 315,518 shares of the utilities provider's stock worth $3,442,000 after acquiring an additional 9,031 shares in the last quarter. Verity & Verity LLC increased its position in shares of Algonquin Power & Utilities by 2.6% during the second quarter. Verity & Verity LLC now owns 436,402 shares of the utilities provider's stock worth $5,861,000 after acquiring an additional 11,149 shares during the period. Finally, Mirabella Financial Services LLP acquired a new stake in shares of Algonquin Power & Utilities in the third quarter valued at $348,000. Institutional investors and hedge funds own 41.26% of the company's stock.

Algonquin Power & Utilities Price Performance

Shares of AQN opened at $8.58 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.71 and a quick ratio of 0.57. Algonquin Power & Utilities Corp. has a 1-year low of $6.41 and a 1-year high of $16.01. The stock has a market cap of $5.90 billion, a PE ratio of -26.81, a price-to-earnings-growth ratio of 4.55 and a beta of 0.49. The firm has a fifty day moving average price of $7.63 and a 200 day moving average price of $8.64.

Algonquin Power & Utilities (NYSE:AQN – Get Rating) last posted its earnings results on Friday, March 17th. The utilities provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. The business had revenue of $748.00 million during the quarter, compared to the consensus estimate of $703.54 million. Algonquin Power & Utilities had a positive return on equity of 7.01% and a negative net margin of 7.64%. The business's quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 EPS. As a group, sell-side analysts anticipate that Algonquin Power & Utilities Corp. will post 0.58 EPS for the current year.

Algonquin Power & Utilities Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be given a $0.1085 dividend. The ex-dividend date is Thursday, March 30th. This represents a $0.43 annualized dividend and a yield of 5.06%. Algonquin Power & Utilities's dividend payout ratio (DPR) is -225.00%.

Wall Street Analysts Forecast Growth

AQN has been the subject of several analyst reports. Bank of America raised Algonquin Power & Utilities from an "underperform" rating to a "buy" rating and boosted their target price for the stock from $7.00 to $9.00 in a research note on Thursday, February 16th. StockNews.com raised shares of Algonquin Power & Utilities to a "sell" rating in a report on Monday, March 20th. Credit Suisse Group lowered their price target on shares of Algonquin Power & Utilities from $11.00 to $10.50 and set an "outperform" rating for the company in a report on Friday, January 13th. BMO Capital Markets raised their price objective on shares of Algonquin Power & Utilities from C$7.00 to C$7.50 and gave the company a "market perform" rating in a report on Friday, January 13th. Finally, Raymond James lowered their target price on shares of Algonquin Power & Utilities from $11.50 to $10.00 and set an "outperform" rating for the company in a research note on Friday, January 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $9.86.

Algonquin Power & Utilities Profile

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Algonquin Power & Utilities Corp. operates as a diversified utility company. The firm engages in the ownership and operation of a portfolio of regulated and non-regulated generation, distribution and transmission utility assets. It operates through the following segments: Regulated Services Group, and Renewable Energy Group.

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