NN Investment Partners Holdings N.V. trimmed its position in shares of Algonquin Power & Utilities Corp (NYSE:AQN) by 11.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 79,300 shares of the utilities provider’s stock after selling 10,100 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Algonquin Power & Utilities were worth $1,027,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Pictet Asset Management Ltd. boosted its position in Algonquin Power & Utilities by 9.4% during the 1st quarter. Pictet Asset Management Ltd. now owns 11,183,495 shares of the utilities provider’s stock valued at $148,896,000 after acquiring an additional 963,142 shares in the last quarter. CIBC World Markets Inc. raised its holdings in Algonquin Power & Utilities by 0.4% in the 1st quarter. CIBC World Markets Inc. now owns 5,524,531 shares of the utilities provider’s stock worth $74,029,000 after acquiring an additional 23,053 shares during the last quarter. Norges Bank purchased a new position in Algonquin Power & Utilities in the 4th quarter worth approximately $58,968,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Algonquin Power & Utilities by 72.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,081,939 shares of the utilities provider’s stock valued at $41,169,000 after buying an additional 1,292,544 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Algonquin Power & Utilities by 33.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,814,328 shares of the utilities provider’s stock valued at $37,469,000 after buying an additional 709,096 shares during the last quarter. 43.60% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on AQN shares. Morgan Stanley decreased their target price on shares of Algonquin Power & Utilities from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, July 17th. Zacks Investment Research upgraded shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Raymond James set a $18.00 target price on shares of Algonquin Power & Utilities and gave the company a “strong-buy” rating in a research note on Friday, June 26th. TD Securities set a $17.00 target price on shares of Algonquin Power & Utilities and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Bank of America lowered shares of Algonquin Power & Utilities from a “neutral” rating to an “underperform” rating and set a $13.00 target price for the company. in a research note on Thursday, April 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $15.96.

Shares of AQN stock opened at $13.79 on Friday. Algonquin Power & Utilities Corp has a 1 year low of $9.53 and a 1 year high of $16.85. The firm has a fifty day moving average price of $13.36 and a 200-day moving average price of $14.02. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.91 and a quick ratio of 0.78. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 2.53 and a beta of 0.50.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings data on Thursday, May 7th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). Algonquin Power & Utilities had a net margin of 23.59% and a return on equity of 8.46%. The business had revenue of $464.90 million for the quarter, compared to the consensus estimate of $513.53 million. During the same period in the previous year, the firm earned $0.19 EPS. The company’s revenue was down 2.6% on a year-over-year basis. Equities research analysts expect that Algonquin Power & Utilities Corp will post 0.65 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.155 dividend. The ex-dividend date was Monday, June 29th. This represents a $0.62 annualized dividend and a yield of 4.50%. This is an increase from Algonquin Power & Utilities’s previous quarterly dividend of $0.14. Algonquin Power & Utilities’s dividend payout ratio is currently 98.41%.

Algonquin Power & Utilities Profile

Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada and the United States. It generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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Institutional Ownership by Quarter for Algonquin Power & Utilities (NYSE:AQN)

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