Walleye Capital LLC Invests $59,000 in Algonquin Power & Utilities Corp. (NYSE:AQN)

Walleye Capital LLC acquired a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,818 shares of the utilities provider’s stock, valued at approximately $59,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bank of Montreal Can lifted its holdings in Algonquin Power & Utilities by 6.0% in the 3rd quarter. Bank of Montreal Can now owns 20,882,966 shares of the utilities provider’s stock valued at $115,175,000 after purchasing an additional 1,190,236 shares in the last quarter. National Bank of Canada FI lifted its holdings in Algonquin Power & Utilities by 3.4% in the 2nd quarter. National Bank of Canada FI now owns 10,565,940 shares of the utilities provider’s stock valued at $61,759,000 after purchasing an additional 342,528 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Algonquin Power & Utilities by 156.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 8,905,059 shares of the utilities provider’s stock valued at $52,341,000 after purchasing an additional 5,426,523 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Algonquin Power & Utilities by 6.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,720,474 shares of the utilities provider’s stock valued at $42,105,000 after purchasing an additional 447,246 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Algonquin Power & Utilities by 31.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,956,389 shares of the utilities provider’s stock valued at $34,989,000 after purchasing an additional 1,415,889 shares in the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Analysts Set New Price Targets

AQN has been the subject of a number of recent analyst reports. Scotiabank cut their price objective on Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating for the company in a research report on Friday, November 8th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $7.00 price objective on shares of Algonquin Power & Utilities in a report on Thursday. Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 price objective on shares of Algonquin Power & Utilities in a report on Friday, October 11th. Janney Montgomery Scott initiated 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 on the stock. Finally, CIBC cut their price target on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.25.

Algonquin Power & Utilities Stock Down 0.4 %

AQN stock opened at $4.53 on Friday. The company’s 50 day moving average price is $4.88 and its 200 day moving average price is $5.46. 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 fifty-two week low of $4.42 and a fifty-two week high of $6.79. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of -3.51 and a beta of 0.68.

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

Algonquin Power & Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 5.74%. The ex-dividend date is Tuesday, December 31st. Algonquin Power & Utilities’s payout ratio is currently -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.