XTX Topco Ltd Grows Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

XTX Topco Ltd raised its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 18.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,195 shares of the utilities provider’s stock after acquiring an additional 7,697 shares during the period. XTX Topco Ltd’s holdings in Algonquin Power & Utilities were worth $294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AQN. Parallel Advisors LLC increased its position in Algonquin Power & Utilities by 76.3% in the fourth quarter. Parallel Advisors LLC now owns 4,347 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 1,882 shares during the last quarter. Claro Advisors LLC bought a new stake in shares of Algonquin Power & Utilities in the 2nd quarter worth about $61,000. SeaCrest Wealth Management LLC bought a new stake in shares of Algonquin Power & Utilities in the 2nd quarter worth about $66,000. Larson Financial Group LLC purchased a new stake in shares of Algonquin Power & Utilities during the 1st quarter valued at about $76,000. Finally, SVB Wealth LLC bought a new position in shares of Algonquin Power & Utilities in the 1st quarter valued at about $82,000. 62.28% of the stock is currently owned by institutional investors.

Algonquin Power & Utilities Trading Up 1.7 %

Algonquin Power & Utilities stock opened at $5.53 on Friday. The firm has a market cap of $4.24 billion, a PE ratio of -11.29 and a beta of 0.67. Algonquin Power & Utilities Corp. has a 12 month low of $4.90 and a 12 month high of $6.79. The stock’s 50 day simple moving average is $5.58 and its two-hundred day simple moving average is $5.96. The company has a current ratio of 0.97, a quick ratio of 0.78 and a debt-to-equity ratio of 1.08.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $598.60 million for the quarter, compared to analyst estimates of $635.95 million. Algonquin Power & Utilities had a net margin of 4.70% and a return on equity of 5.36%. The firm’s revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the business earned $0.08 earnings per share. Analysts anticipate that Algonquin Power & Utilities Corp. will post 0.43 earnings per share for the current year.

Algonquin Power & Utilities Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.065 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.26 dividend on an annualized basis and a yield of 4.70%. Algonquin Power & Utilities’s payout ratio is -53.06%.

Analyst Ratings Changes

Several research firms recently weighed in on AQN. Wells Fargo & Company lowered Algonquin Power & Utilities from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $8.50 to $6.00 in a report on Monday, August 12th. National Bank Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Royal Bank of Canada cut their price target on shares of Algonquin Power & Utilities from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 13th. Raymond James lowered shares of Algonquin Power & Utilities from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $7.75 to $7.00 in a research report on Monday, August 12th. Finally, Desjardins dropped their target price on Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating for the company in a research report on Monday, August 12th. One 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 data from MarketBeat, Algonquin Power & Utilities presently has a consensus rating of “Hold” and an average target price of $6.33.

About Algonquin Power & Utilities

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.