Barclays PLC Purchases 206,603 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Barclays PLC raised its position in Algonquin Power & Utilities Corp. (NYSE:AQN) by 33.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 829,508 shares of the utilities provider’s stock after purchasing an additional 206,603 shares during the period. Barclays PLC’s holdings in Algonquin Power & Utilities were worth $4,522,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Central Pacific Bank Trust Division acquired a new position in shares of Algonquin Power & Utilities in the third quarter valued at $54,000. Capstone Investment Advisors LLC bought a new stake in Algonquin Power & Utilities in the 3rd quarter valued at $58,000. Walleye Capital LLC acquired a new position in shares of Algonquin Power & Utilities in the 3rd quarter valued at $59,000. Claro Advisors LLC bought a new position in shares of Algonquin Power & Utilities during the 2nd quarter worth about $61,000. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of Algonquin Power & Utilities during the 3rd quarter valued at about $61,000. Institutional investors own 62.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on AQN shares. Janney Montgomery Scott began coverage on shares of Algonquin Power & Utilities in a research note on Thursday, September 5th. They set a “neutral” rating and a $6.00 price target for the company. JPMorgan Chase & Co. restated a “neutral” rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 price target on shares of Algonquin Power & Utilities in a research report on Friday, October 11th. Wells Fargo & Company cut their price objective on Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. Finally, Scotiabank lowered their target price on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.25.

Algonquin Power & Utilities Trading Up 1.9 %

AQN opened at $4.39 on Friday. Algonquin Power & Utilities Corp. has a 1-year low of $4.25 and a 1-year high of $6.79. The firm has a 50-day moving average price of $4.80 and a two-hundred day moving average price of $5.37. The stock has a market capitalization of $3.37 billion, a PE ratio of -3.40 and a beta of 0.68. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The company had revenue of $573.20 million during the quarter, compared to the consensus estimate of $620.46 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 EPS. As a group, equities analysts anticipate that Algonquin Power & Utilities Corp. will post 0.39 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 5.92%. The ex-dividend date of this dividend is Tuesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio is -20.16%.

Algonquin Power & Utilities Company 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.