189,700 Shares in Algonquin Power & Utilities Corp. (NYSE:AQN) Purchased by Entropy Technologies LP

Entropy Technologies LP acquired a new position in Algonquin Power & Utilities Corp. (NYSE:AQN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 189,700 shares of the utilities provider’s stock, valued at approximately $1,034,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AQN. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Algonquin Power & Utilities by 151.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,900 shares of the utilities provider’s stock valued at $176,000 after buying an additional 16,800 shares during the last quarter. M&G Plc bought a new position in Algonquin Power & Utilities in the 1st quarter valued at $4,887,000. Vanguard Group Inc. lifted its position in shares of Algonquin Power & Utilities by 1.0% during the first quarter. Vanguard Group Inc. now owns 26,248,892 shares of the utilities provider’s stock worth $165,893,000 after purchasing an additional 262,333 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Algonquin Power & Utilities by 6.5% during the first quarter. National Bank of Canada FI now owns 10,223,412 shares of the utilities provider’s stock valued at $67,050,000 after purchasing an additional 620,593 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Algonquin Power & Utilities by 5.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,341,745 shares of the utilities provider’s stock valued at $8,483,000 after purchasing an additional 74,935 shares during the period. 62.28% of the stock is owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Price Performance

AQN opened at $4.74 on Thursday. The firm has a market capitalization of $3.63 billion, a PE ratio of -3.67 and a beta of 0.68. The business’s 50-day moving average is $5.16 and its two-hundred day moving average is $5.71. Algonquin Power & Utilities Corp. has a 1 year low of $4.67 and a 1 year high of $6.79. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $573.20 million for the quarter, compared to the consensus estimate of $620.46 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 EPS. Research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.4 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.49%. Algonquin Power & Utilities’s payout ratio is -20.16%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Raymond James lowered shares of Algonquin Power & Utilities from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $7.75 to $7.00 in a report on Monday, August 12th. National Bank Financial raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 12th. Wells Fargo & Company dropped their price objective on Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research note on Wednesday, October 16th. Scotiabank decreased their target price 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. Finally, Janney Montgomery Scott initiated coverage on Algonquin Power & Utilities in a report on Thursday, September 5th. They issued a “neutral” rating and a $6.00 target price for the company. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Algonquin Power & Utilities currently has an average rating of “Hold” and an average price target of $6.18.

Algonquin Power & Utilities 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.