CIBC Asset Management Inc Purchases 3,656 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

CIBC Asset Management Inc raised its position in Algonquin Power & Utilities Corp. (NYSE:AQN) by 0.4% in the 4th quarter, Holdings Channel reports. The firm owned 935,130 shares of the utilities provider’s stock after buying an additional 3,656 shares during the period. CIBC Asset Management Inc’s holdings in Algonquin Power & Utilities were worth $4,141,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Capstone Investment Advisors LLC bought a new stake in Algonquin Power & Utilities in the third quarter valued at approximately $58,000. Walleye Capital LLC bought a new stake in shares of Algonquin Power & Utilities during the third quarter worth $59,000. Verdence Capital Advisors LLC bought a new stake in shares of Algonquin Power & Utilities during the third quarter worth $61,000. Ballentine Partners LLC bought a new stake in shares of Algonquin Power & Utilities during the fourth quarter worth $63,000. Finally, Raymond James Trust N.A. increased its position in shares of Algonquin Power & Utilities by 33.4% during the third quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider’s stock worth $73,000 after acquiring an additional 3,343 shares in the last quarter. Institutional investors own 62.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AQN shares. Royal Bank of Canada lowered 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 research report on Tuesday. National Bankshares lowered 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 research report on Tuesday, February 11th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $7.00 price objective on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. Finally, Scotiabank increased their price objective on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, nine 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Algonquin Power & Utilities Stock Up 0.9 %

Algonquin Power & Utilities stock opened at $5.00 on Friday. The company has a market cap of $3.83 billion, a P/E ratio of -3.87 and a beta of 0.69. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. The company has a fifty day simple moving average of $4.50 and a 200 day simple moving average of $4.92. Algonquin Power & Utilities Corp. has a 1-year low of $4.19 and a 1-year high of $6.79.

Algonquin Power & Utilities 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.