Legal & General Group Plc Acquires 38,906 Shares of Algonquin Power & Utilities Corp. $AQN

Legal & General Group Plc raised its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 0.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,732,777 shares of the utilities provider’s stock after purchasing an additional 38,906 shares during the period. Legal & General Group Plc’s holdings in Algonquin Power & Utilities were worth $44,149,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AQN. Bank of New York Mellon Corp grew its position in shares of Algonquin Power & Utilities by 16.3% in the 1st quarter. Bank of New York Mellon Corp now owns 14,809 shares of the utilities provider’s stock worth $76,000 after buying an additional 2,073 shares during the last quarter. Cetera Investment Advisers lifted its stake in Algonquin Power & Utilities by 21.9% in the first quarter. Cetera Investment Advisers now owns 156,975 shares of the utilities provider’s stock worth $806,000 after acquiring an additional 28,175 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Algonquin Power & Utilities by 12.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 200,015 shares of the utilities provider’s stock valued at $1,027,000 after acquiring an additional 22,200 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Algonquin Power & Utilities by 5.6% in the first quarter. Mackenzie Financial Corp now owns 544,081 shares of the utilities provider’s stock valued at $2,794,000 after acquiring an additional 28,909 shares in the last quarter. Finally, XTX Topco Ltd increased its position in Algonquin Power & Utilities by 243.5% during the 1st quarter. XTX Topco Ltd now owns 89,694 shares of the utilities provider’s stock valued at $461,000 after purchasing an additional 63,584 shares during the period. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Trading Up 1.1%

Shares of NYSE AQN opened at $6.15 on Thursday. Algonquin Power & Utilities Corp. has a 1 year low of $4.19 and a 1 year high of $6.48. 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 50-day moving average of $5.80 and a 200 day moving average of $5.77. The stock has a market cap of $4.72 billion, a P/E ratio of -3.41 and a beta of 0.75.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results on Friday, November 7th. The utilities provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. The business had revenue of $600.80 million during the quarter, compared to the consensus estimate of $596.67 million. During the same quarter last year, the firm earned $0.08 earnings per share. As a group, sell-side analysts expect that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio (DPR) is -650.00%.

Analyst Ratings Changes

AQN has been the subject of several research analyst reports. TD Securities raised shares of Algonquin Power & Utilities to a “hold” rating in a research report on Monday, August 11th. Janney Montgomery Scott set a $7.00 price target on shares of Algonquin Power & Utilities in a research note on Monday, November 10th. Weiss Ratings restated a “sell (d+)” rating on shares of Algonquin Power & Utilities in a report on Monday. Raymond James Financial lifted their price objective on Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “market perform” rating in a research report on Friday, October 24th. Finally, Wall Street Zen raised Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Algonquin Power & Utilities has a consensus rating of “Hold” and a consensus target price of $6.59.

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.