2,584,316 Shares in Algonquin Power & Utilities Corp. $AQN Acquired by Nuveen LLC

Nuveen LLC purchased a new position in Algonquin Power & Utilities Corp. (NYSE:AQN) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,584,316 shares of the utilities provider’s stock, valued at approximately $13,293,000. Nuveen LLC owned 0.34% of Algonquin Power & Utilities at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bank of New York Mellon Corp grew its stake in shares of Algonquin Power & Utilities by 16.3% during the 1st quarter. Bank of New York Mellon Corp now owns 14,809 shares of the utilities provider’s stock worth $76,000 after purchasing an additional 2,073 shares during the period. US Bancorp DE grew its stake in shares of Algonquin Power & Utilities by 85.7% during the 1st quarter. US Bancorp DE now owns 4,887 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 2,256 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of Algonquin Power & Utilities by 5.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 114,834 shares of the utilities provider’s stock worth $583,000 after purchasing an additional 5,693 shares during the period. Signaturefd LLC grew its stake in shares of Algonquin Power & Utilities by 14.6% during the 1st quarter. Signaturefd LLC now owns 48,586 shares of the utilities provider’s stock worth $250,000 after purchasing an additional 6,203 shares during the period. Finally, Capstone Investment Advisors LLC grew its stake in shares of Algonquin Power & Utilities by 59.6% during the 4th quarter. Capstone Investment Advisors LLC now owns 17,060 shares of the utilities provider’s stock worth $76,000 after purchasing an additional 6,370 shares during the period. Institutional investors and hedge funds own 62.28% of the company’s stock.

Algonquin Power & Utilities Trading Down 0.6%

Shares of AQN stock opened at $5.7850 on Friday. The stock’s fifty day moving average is $5.84 and its two-hundred day moving average is $5.41. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 1.09. The firm has a market capitalization of $4.44 billion, a P/E ratio of -3.21 and a beta of 0.67. Algonquin Power & Utilities Corp. has a fifty-two week low of $4.19 and a fifty-two week high of $6.24.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Friday, August 8th. The utilities provider reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. The company had revenue of $535.59 million for the quarter, compared to analyst estimates of $535.64 million. Algonquin Power & Utilities had a positive return on equity of 4.76% and a negative net margin of 57.66%.During the same quarter last year, the firm posted $0.09 EPS. Research analysts expect that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.065 dividend. The ex-dividend date is Monday, September 29th. This represents a $0.26 dividend on an annualized basis and a yield of 4.5%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently -14.44%.

Analyst Ratings Changes

A number of brokerages have recently commented on AQN. National Bank Financial raised shares of Algonquin Power & Utilities to a “hold” rating in a research note on Sunday, June 8th. BMO Capital Markets reissued a “market perform” rating and issued a $6.00 price target (up previously from $5.00) on shares of Algonquin Power & Utilities in a research note on Monday, May 12th. Desjardins lifted their price target on shares of Algonquin Power & Utilities from $4.75 to $6.00 and gave the company a “hold” rating in a research note on Wednesday, June 4th. CIBC lifted their price target on shares of Algonquin Power & Utilities from $5.75 to $6.25 and gave the company a “neutral” rating in a research note on Wednesday, June 4th. Finally, TD Securities raised shares of Algonquin Power & Utilities to a “hold” rating in a research note on Monday, August 11th. Twelve research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.31.

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.