Fiera Capital Corp Buys Shares of 17,569 Algonquin Power & Utilities Corp. (NYSE:AQN)

Fiera Capital Corp purchased a new position in Algonquin Power & Utilities Corp. (NYSE:AQN) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 17,569 shares of the utilities provider’s stock, valued at approximately $96,000.

Several other large investors have also bought and sold shares of AQN. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Algonquin Power & Utilities by 156.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 8,905,059 shares of the utilities provider’s stock valued at $52,341,000 after acquiring an additional 5,426,523 shares during the last quarter. Troluce Capital Advisors LLC grew its stake in shares of Algonquin Power & Utilities by 33.3% during the 2nd quarter. Troluce Capital Advisors LLC now owns 2,575,000 shares of the utilities provider’s stock valued at $15,090,000 after acquiring an additional 643,352 shares during the period. Vanguard Group Inc. increased its holdings in Algonquin Power & Utilities by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 26,248,892 shares of the utilities provider’s stock worth $165,893,000 after acquiring an additional 262,333 shares in the last quarter. Triasima Portfolio Management inc. purchased a new position in Algonquin Power & Utilities during the second quarter valued at approximately $3,164,000. Finally, Private Management Group Inc. bought a new position in shares of Algonquin Power & Utilities in the third quarter worth approximately $12,361,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Desjardins lowered their price target on Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating on the stock in a report on Monday, August 12th. CIBC dropped their target price on shares of 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. Raymond James downgraded shares of Algonquin Power & Utilities from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $7.75 to $7.00 in a report on Monday, August 12th. National Bank Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 target price on shares of Algonquin Power & Utilities in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $6.18.

Algonquin Power & Utilities Price Performance

AQN stock opened at $4.80 on Monday. Algonquin Power & Utilities Corp. has a 1 year low of $4.67 and a 1 year high of $6.79. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.97 and a quick ratio of 0.78. The firm has a market capitalization of $3.68 billion, a PE ratio of 30.00 and a beta of 0.68. The business has a 50 day simple moving average of $5.19 and a 200-day simple moving average of $5.74.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. Algonquin Power & Utilities had a return on equity of 5.36% and a net margin of 4.70%. The business had revenue of $573.20 million for the quarter, compared to analyst estimates of $620.46 million. During the same quarter in the previous year, the firm earned $0.11 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.43 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is 162.50%.

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.