Bfsg LLC Acquires 26,700 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Bfsg LLC grew its holdings in Algonquin Power & Utilities Corp. (NYSE:AQN) by 122.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,530 shares of the utilities provider’s stock after acquiring an additional 26,700 shares during the quarter. Bfsg LLC’s holdings in Algonquin Power & Utilities were worth $216,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Capstone Investment Advisors LLC bought a new stake in shares of Algonquin Power & Utilities in the third quarter valued at approximately $58,000. Walleye Capital LLC bought a new stake in shares of Algonquin Power & Utilities in the third quarter valued at approximately $59,000. Verdence Capital Advisors LLC bought a new stake in shares of Algonquin Power & Utilities in the third quarter valued at approximately $61,000. Raymond James Trust N.A. boosted its position in shares of Algonquin Power & Utilities by 33.4% in the third quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider’s stock valued at $73,000 after acquiring an additional 3,343 shares during the period. Finally, Ballentine Partners LLC bought a new position in Algonquin Power & Utilities in the fourth quarter worth $63,000. 62.28% of the stock is owned by institutional investors.

Algonquin Power & Utilities Stock Performance

Shares of NYSE:AQN opened at $4.87 on Wednesday. The business has a fifty day moving average of $4.48 and a 200-day moving average of $4.93. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. The firm has a market cap of $3.73 billion, a PE ratio of -3.77 and a beta of 0.69. Algonquin Power & Utilities Corp. has a twelve month low of $4.19 and a twelve month high of $6.79.

Wall Street Analyst Weigh In

Several brokerages recently commented on AQN. Royal Bank of Canada reduced their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a research report on Tuesday. Scotiabank raised their target price on Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. CIBC reduced their target price on Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. National Bankshares reduced their target price on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Algonquin Power & Utilities has an average rating of “Hold” and a consensus target price of $6.00.

Algonquin Power & Utilities Profile

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.