Quantbot Technologies LP Has $3.24 Million Stake in Algonquin Power & Utilities Corp. (NYSE:AQN)

Quantbot Technologies LP boosted its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 16.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 728,307 shares of the utilities provider’s stock after buying an additional 103,217 shares during the period. Quantbot Technologies LP owned approximately 0.09% of Algonquin Power & Utilities worth $3,241,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AQN. Bank of Montreal Can lifted its holdings in shares of Algonquin Power & Utilities by 6.0% in the third quarter. Bank of Montreal Can now owns 20,882,966 shares of the utilities provider’s stock worth $115,175,000 after acquiring an additional 1,190,236 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in shares of Algonquin Power & Utilities by 5.1% in the third quarter. EdgePoint Investment Group Inc. now owns 17,190,084 shares of the utilities provider’s stock worth $93,918,000 after acquiring an additional 832,739 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Algonquin Power & Utilities by 45.5% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,959,770 shares of the utilities provider’s stock worth $70,806,000 after acquiring an additional 4,054,711 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Algonquin Power & Utilities by 6.1% in the third quarter. The Manufacturers Life Insurance Company now owns 7,720,474 shares of the utilities provider’s stock worth $42,105,000 after acquiring an additional 447,246 shares during the last quarter. Finally, Private Management Group Inc. lifted its holdings in shares of Algonquin Power & Utilities by 161.2% in the fourth quarter. Private Management Group Inc. now owns 5,924,983 shares of the utilities provider’s stock worth $26,366,000 after acquiring an additional 3,656,840 shares during the last quarter. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AQN shares. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. Royal Bank of Canada dropped their price objective on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a report on Tuesday, February 18th. Scotiabank raised their price objective on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Finally, National Bankshares dropped their price objective on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.94.

Algonquin Power & Utilities Stock Down 0.3 %

Algonquin Power & Utilities stock opened at $5.13 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. Algonquin Power & Utilities Corp. has a 52-week low of $4.19 and a 52-week high of $6.79. The firm has a 50 day moving average price of $4.70 and a two-hundred day moving average price of $4.84. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of -3.97 and a beta of 0.70.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share (EPS) 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%. Equities analysts predict that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current year.

Algonquin Power & Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend is Monday, March 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is -14.44%.

Algonquin Power & Utilities Company 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.