Deutsche Bank AG Has $292,000 Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

Deutsche Bank AG increased its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 50.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,597 shares of the utilities provider’s stock after buying an additional 22,135 shares during the period. Deutsche Bank AG’s holdings in Algonquin Power & Utilities were worth $292,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Algonquin Power & Utilities by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 31,510,928 shares of the utilities provider’s stock worth $139,845,000 after buying an additional 544,198 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Algonquin Power & Utilities by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,303,614 shares of the utilities provider’s stock worth $10,219,000 after buying an additional 92,373 shares during the last quarter. Barclays PLC raised its stake in Algonquin Power & Utilities by 33.2% during the third quarter. Barclays PLC now owns 829,508 shares of the utilities provider’s stock worth $4,522,000 after buying an additional 206,603 shares during the last quarter. Alberta Investment Management Corp raised its stake in Algonquin Power & Utilities by 8.7% during the fourth quarter. Alberta Investment Management Corp now owns 5,052,789 shares of the utilities provider’s stock worth $22,458,000 after buying an additional 402,500 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Algonquin Power & Utilities in the fourth quarter valued at $990,000. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Price Performance

AQN opened at $5.48 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of -4.25 and a beta of 0.67. Algonquin Power & Utilities Corp. has a twelve month low of $4.19 and a twelve month high of $6.37. The company’s 50-day moving average price is $5.31 and its two-hundred day moving average price is $4.89.

Algonquin Power & Utilities (NYSE:AQN) last released its earnings results on Friday, May 9th. The utilities provider reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The firm had revenue of $692.40 million for the quarter, compared to analysts’ expectations of $699.08 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. During the same period in the previous year, the company earned $0.14 earnings per share. As a group, equities analysts expect that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date is Monday, June 30th. Algonquin Power & Utilities’s payout ratio is -15.48%.

Wall Street Analyst Weigh In

AQN has been the subject of several research analyst reports. CIBC decreased their price target on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Royal Bank of Canada lifted their price target on shares of Algonquin Power & Utilities from $5.50 to $6.00 and gave the company a “sector perform” rating in a research note on Monday, May 12th. Scotiabank lifted their price objective on shares of Algonquin Power & Utilities from $5.50 to $6.00 and gave the company a “sector perform” rating in a report on Monday, May 12th. Wall Street Zen cut shares of Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Finally, National Bankshares reduced 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 report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Algonquin Power & Utilities currently has a consensus rating of “Hold” and a consensus price target of $6.03.

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.