Algonquin Power & Utilities Corp. $AQN Shares Bought by PDT Partners LLC

PDT Partners LLC lifted its position in Algonquin Power & Utilities Corp. (NYSE:AQN) by 62.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,118,379 shares of the utilities provider’s stock after purchasing an additional 429,306 shares during the quarter. PDT Partners LLC’s holdings in Algonquin Power & Utilities were worth $5,748,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new stake in Algonquin Power & Utilities during the 1st quarter worth about $288,000. Raymond James Financial Inc. purchased a new position in Algonquin Power & Utilities during the 4th quarter worth $990,000. Sowell Financial Services LLC acquired a new stake in Algonquin Power & Utilities in the first quarter valued at about $59,000. Atria Wealth Solutions Inc. purchased a new position in Algonquin Power & Utilities in the first quarter worth $51,000. Finally, Dimensional Fund Advisors LP lifted its position 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 valued at $25,734,000 after acquiring an additional 654,006 shares during the period. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Stock Up 0.1%

AQN stock opened at $5.81 on Monday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.09 and a quick ratio of 0.86. The firm has a market cap of $4.46 billion, a PE ratio of -3.22 and a beta of 0.69. The firm has a 50 day simple moving average of $5.84 and a 200 day simple moving average of $5.47. Algonquin Power & Utilities Corp. has a 12 month low of $4.19 and a 12 month high of $6.24.

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

Algonquin Power & Utilities Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AQN. Wall Street Zen lowered Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Desjardins boosted their target price on Algonquin Power & Utilities from $4.75 to $6.00 and gave the stock a “hold” rating in a report on Wednesday, June 4th. Royal Bank Of Canada raised their price objective on Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “sector perform” rating in a research report on Wednesday, June 4th. Raymond James Financial raised their price target on shares of Algonquin Power & Utilities from $5.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, June 4th. Finally, CIBC increased their target price on Algonquin Power & Utilities from $5.75 to $6.25 and gave the company a “neutral” rating in a research note on Wednesday, June 4th. Twelve research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.31.

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.