Aquatic Capital Management LLC Takes Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

Aquatic Capital Management LLC purchased a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 368,045 shares of the utilities provider’s stock, valued at approximately $1,638,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Nebula Research & Development LLC grew its holdings in shares of Algonquin Power & Utilities by 157.0% during the 4th quarter. Nebula Research & Development LLC now owns 161,576 shares of the utilities provider’s stock worth $719,000 after purchasing an additional 98,702 shares in the last quarter. Credit Industriel ET Commercial acquired a new stake in Algonquin Power & Utilities during the fourth quarter worth about $578,000. Hsbc Holdings PLC raised its position in shares of Algonquin Power & Utilities by 12.3% in the 4th quarter. Hsbc Holdings PLC now owns 458,885 shares of the utilities provider’s stock valued at $2,039,000 after buying an additional 50,285 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Algonquin Power & Utilities by 12.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,782,827 shares of the utilities provider’s stock worth $25,734,000 after acquiring an additional 654,006 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Algonquin Power & Utilities by 1.0% during the 4th quarter. First Trust Advisors LP now owns 6,898,735 shares of the utilities provider’s stock worth $30,699,000 after acquiring an additional 70,774 shares in the last quarter. Institutional investors own 62.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Royal Bank of Canada lowered their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. Scotiabank upped their price target on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. CIBC cut their price objective on Algonquin Power & Utilities from $5.50 to $5.25 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Finally, National Bankshares cut their target price on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.92.

Algonquin Power & Utilities Trading Up 0.4 %

NYSE:AQN opened at $5.37 on Wednesday. Algonquin Power & Utilities Corp. has a 52 week low of $4.19 and a 52 week high of $6.79. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. The firm’s fifty day moving average is $5.04 and its 200-day moving average is $4.79. The firm has a market cap of $4.12 billion, a P/E ratio of -4.16 and a beta of 0.65.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings results on Friday, March 7th. The utilities provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). The business had revenue of $584.80 million for the quarter, compared to analyst estimates of $644.73 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. Equities analysts expect that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend was Monday, March 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently -14.44%.

Algonquin Power & Utilities Company 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.