Aigen Investment Management LP Purchases New Shares in Algonquin Power & Utilities Corp. (NYSE:AQN)

Aigen Investment Management LP purchased a new stake in Algonquin Power & Utilities Corp. (NYSE:AQN) in the fourth quarter, Holdings Channel.com reports. The fund purchased 58,931 shares of the utilities provider’s stock, valued at approximately $262,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in Algonquin Power & Utilities by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,303,614 shares of the utilities provider’s stock valued at $10,219,000 after buying an additional 92,373 shares during the last quarter. SVB Wealth LLC purchased a new stake in Algonquin Power & Utilities in the 4th quarter valued at $49,000. Alberta Investment Management Corp raised its position in Algonquin Power & Utilities by 8.7% in the 4th quarter. Alberta Investment Management Corp now owns 5,052,789 shares of the utilities provider’s stock valued at $22,458,000 after buying an additional 402,500 shares during the last quarter. Bfsg LLC raised its position in Algonquin Power & Utilities by 122.3% in the 4th quarter. Bfsg LLC now owns 48,530 shares of the utilities provider’s stock valued at $216,000 after buying an additional 26,700 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in Algonquin Power & Utilities by 0.4% in the 4th quarter. CIBC Asset Management Inc now owns 935,130 shares of the utilities provider’s stock valued at $4,141,000 after buying an additional 3,656 shares during the last quarter. 62.28% of the stock is owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Stock Down 0.1 %

AQN stock opened at $4.79 on Friday. 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 company has a market capitalization of $3.67 billion, a price-to-earnings ratio of -3.71 and a beta of 0.71. Algonquin Power & Utilities Corp. has a fifty-two week low of $4.19 and a fifty-two week high of $6.79. The stock has a fifty day moving average of $4.59 and a 200-day moving average of $4.86.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.04). The firm had revenue of $584.80 million for the quarter, compared to the consensus estimate of $644.73 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. As a group, equities research analysts predict that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.065 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.26 annualized dividend and a yield of 5.43%. Algonquin Power & Utilities’s dividend payout ratio is currently -14.44%.

Analyst Upgrades and Downgrades

AQN has been the subject of several research analyst reports. Royal Bank of Canada decreased 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, February 18th. National Bankshares decreased 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. Finally, Scotiabank raised their target price on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.00.

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.