Signaturefd LLC Has $304,000 Stock Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

Signaturefd LLC raised its holdings in Algonquin Power & Utilities Corp. (NYSE:AQN) by 120.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,062 shares of the utilities provider’s stock after buying an additional 26,307 shares during the quarter. Signaturefd LLC’s holdings in Algonquin Power & Utilities were worth $304,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Algonquin Power & Utilities by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 25,717,759 shares of the utilities provider’s stock worth $152,249,000 after acquiring an additional 413,104 shares during the period. Toronto Dominion Bank lifted its position in shares of Algonquin Power & Utilities by 7.9% in the 3rd quarter. Toronto Dominion Bank now owns 13,293,748 shares of the utilities provider’s stock worth $78,699,000 after acquiring an additional 978,758 shares during the period. Invesco Ltd. lifted its position in shares of Algonquin Power & Utilities by 6.6% in the 3rd quarter. Invesco Ltd. now owns 9,881,130 shares of the utilities provider’s stock worth $58,496,000 after acquiring an additional 616,049 shares during the period. Legal & General Group Plc lifted its position in shares of Algonquin Power & Utilities by 1.2% in the 3rd quarter. Legal & General Group Plc now owns 8,292,660 shares of the utilities provider’s stock worth $49,312,000 after acquiring an additional 99,374 shares during the period. Finally, FMR LLC lifted its position in shares of Algonquin Power & Utilities by 8.7% in the 3rd quarter. FMR LLC now owns 3,529,781 shares of the utilities provider’s stock worth $20,894,000 after acquiring an additional 281,699 shares during the period. Institutional investors and hedge funds own 62.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AQN shares. TD Securities raised their target price on Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “hold” rating in a research report on Monday, March 11th. BMO Capital Markets upgraded Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $7.00 to $7.50 in a research report on Monday, January 8th. CIBC raised their target price on Algonquin Power & Utilities from $7.00 to $7.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Scotiabank cut their target price on Algonquin Power & Utilities from $7.50 to $6.50 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Finally, StockNews.com upgraded Algonquin Power & Utilities to a “sell” rating in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.67.

Algonquin Power & Utilities Trading Down 0.8 %

Shares of AQN opened at $6.12 on Friday. The stock has a fifty day moving average price of $6.05 and a two-hundred day moving average price of $5.99. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.50 and a current ratio of 0.63. Algonquin Power & Utilities Corp. has a 52-week low of $4.90 and a 52-week high of $9.14. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 205.33 and a beta of 0.66.

Algonquin Power & Utilities (NYSE:AQN) last released its earnings results on Friday, March 8th. The utilities provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $666.90 million during the quarter, compared to analysts’ expectations of $661.73 million. Algonquin Power & Utilities had a return on equity of 5.64% and a net margin of 1.06%. The business’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same period last year, the firm earned $0.22 EPS. Analysts predict that Algonquin Power & Utilities Corp. will post 0.49 EPS for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.1085 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.43 annualized dividend and a dividend yield of 7.09%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently 1,433.33%.

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.