Barclays PLC Has $4.52 Million Stock Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

Barclays PLC boosted its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 33.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 829,508 shares of the utilities provider’s stock after acquiring an additional 206,603 shares during the quarter. Barclays PLC owned 0.11% of Algonquin Power & Utilities worth $4,522,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its position in shares of Algonquin Power & Utilities by 320.6% in the second quarter. The Manufacturers Life Insurance Company now owns 7,273,228 shares of the utilities provider’s stock worth $42,633,000 after purchasing an additional 5,544,063 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Algonquin Power & Utilities by 156.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 8,905,059 shares of the utilities provider’s stock worth $52,341,000 after buying an additional 5,426,523 shares in the last quarter. Private Management Group Inc. acquired a new stake in shares of Algonquin Power & Utilities during the 3rd quarter valued at $12,361,000. Yaupon Capital Management LP acquired a new stake in shares of Algonquin Power & Utilities during the 3rd quarter valued at $11,997,000. Finally, Davidson Kempner Capital Management LP increased its stake in shares of Algonquin Power & Utilities by 79.8% in the second quarter. Davidson Kempner Capital Management LP now owns 4,634,250 shares of the utilities provider’s stock worth $27,157,000 after acquiring an additional 2,056,534 shares during the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Stock Up 1.9 %

AQN stock opened at $4.39 on Friday. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of -3.40 and a beta of 0.68. The company has a 50-day moving average of $4.80 and a two-hundred day moving average of $5.37. Algonquin Power & Utilities Corp. has a 52-week low of $4.25 and a 52-week high of $6.79. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The business had revenue of $573.20 million for the quarter, compared to the consensus estimate of $620.46 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. Algonquin Power & Utilities’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 EPS. As a group, equities research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.39 EPS for the current year.

Algonquin Power & Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date of this dividend is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently -20.16%.

Analyst Upgrades and Downgrades

AQN has been the subject of a number of research reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $7.00 price objective on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. CIBC reduced their price target on Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Janney Montgomery Scott assumed coverage on Algonquin Power & Utilities in a report on Thursday, September 5th. They issued a “neutral” rating and a $6.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Finally, Scotiabank dropped their price target on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.25.

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.