Cubist Systematic Strategies LLC Acquires 46,592 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Cubist Systematic Strategies LLC increased its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 25.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 226,491 shares of the utilities provider’s stock after acquiring an additional 46,592 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Algonquin Power & Utilities were worth $1,005,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. SVB Wealth LLC bought a new stake in shares of Algonquin Power & Utilities in the fourth quarter valued at $49,000. Avantax Advisory Services Inc. bought a new stake in shares of Algonquin Power & Utilities in the fourth quarter valued at $58,000. Ballentine Partners LLC bought a new stake in shares of Algonquin Power & Utilities in the fourth quarter valued at $63,000. Spire Wealth Management raised its stake in shares of Algonquin Power & Utilities by 149.6% in the fourth quarter. Spire Wealth Management now owns 17,000 shares of the utilities provider’s stock valued at $76,000 after buying an additional 10,190 shares during the period. Finally, Capstone Investment Advisors LLC raised its stake in shares of Algonquin Power & Utilities by 59.6% in the fourth quarter. Capstone Investment Advisors LLC now owns 17,060 shares of the utilities provider’s stock valued at $76,000 after buying an additional 6,370 shares during the period. 62.28% of the stock is currently owned by institutional investors.

Algonquin Power & Utilities Price Performance

Algonquin Power & Utilities stock opened at $5.46 on Thursday. Algonquin Power & Utilities Corp. has a 52 week low of $4.19 and a 52 week high of $6.75. The business has a 50-day simple moving average of $5.19 and a 200 day simple moving average of $4.83. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of -4.23 and a beta of 0.67.

Algonquin Power & Utilities (NYSE:AQN) last posted its earnings results on Friday, May 9th. The utilities provider reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The business had revenue of $692.40 million during the quarter, compared to analysts’ expectations of $699.08 million. During the same period in the previous year, the business earned $0.14 earnings per share. On average, research analysts forecast that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 4.76%. The ex-dividend date is Monday, June 30th. Algonquin Power & Utilities’s payout ratio is -15.48%.

Analyst Ratings Changes

Several analysts have issued reports on AQN shares. CIBC lowered their target price on Algonquin Power & Utilities from $5.50 to $5.25 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Scotiabank lifted their price target on Algonquin Power & Utilities from $5.50 to $6.00 and gave the company a “sector perform” rating in a research report on Monday. StockNews.com upgraded Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research report on Tuesday. National Bankshares reduced their price target on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $6.00 price target (up from $5.00) on shares of Algonquin Power & Utilities in a research report on Monday. Ten analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.03.

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.