Algonquin Power & Utilities Corp. (NYSE:AQN) Shares Acquired by Virtu Financial LLC

Virtu Financial LLC lifted its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 382.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,854 shares of the utilities provider’s stock after acquiring an additional 65,663 shares during the quarter. Virtu Financial LLC’s holdings in Algonquin Power & Utilities were worth $452,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new position in shares of Algonquin Power & Utilities during the third quarter worth about $54,000. Capstone Investment Advisors LLC acquired a new position in shares of Algonquin Power & Utilities during the third quarter worth about $58,000. Walleye Capital LLC acquired a new position in shares of Algonquin Power & Utilities during the third quarter worth about $59,000. Claro Advisors LLC acquired a new position in shares of Algonquin Power & Utilities during the second quarter worth about $61,000. Finally, Verdence Capital Advisors LLC acquired a new position in shares of Algonquin Power & Utilities during the third quarter worth about $61,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities Stock Down 1.3 %

Shares of NYSE AQN opened at $4.47 on Monday. Algonquin Power & Utilities Corp. has a 12-month low of $4.42 and a 12-month high of $6.79. The company has a market capitalization of $3.43 billion, a PE ratio of -3.47 and a beta of 0.68. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The firm’s 50-day moving average is $4.87 and its two-hundred day moving average is $5.43.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.08 earnings per share (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 analysts’ expectations 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 quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 EPS. Equities analysts anticipate that Algonquin Power & Utilities Corp. will post 0.39 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 5.82%. The ex-dividend date of this dividend is Tuesday, December 31st. Algonquin Power & Utilities’s payout ratio is -20.15%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AQN. CIBC dropped 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. Scotiabank lowered their target price on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Wells Fargo & Company lowered their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Janney Montgomery Scott began coverage on shares of Algonquin Power & Utilities in a research report on Thursday, September 5th. They set a “neutral” rating and a $6.00 target price on the stock. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Algonquin Power & Utilities has a consensus rating of “Hold” and a consensus target price of $6.25.

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.