Algonquin Power & Utilities Corp. (NYSE:AQN) Shares Acquired by Virtu Financial LLC

Virtu Financial LLC grew its holdings in Algonquin Power & Utilities Corp. (NYSE:AQN) by 382.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,854 shares of the utilities provider’s stock after acquiring an additional 65,663 shares during the period. Virtu Financial LLC’s holdings in Algonquin Power & Utilities were worth $452,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of AQN. The Manufacturers Life Insurance Company grew its stake in shares of Algonquin Power & Utilities by 320.6% in the second quarter. The Manufacturers Life Insurance Company now owns 7,273,228 shares of the utilities provider’s stock worth $42,633,000 after acquiring an additional 5,544,063 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Algonquin Power & Utilities by 156.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 8,905,059 shares of the utilities provider’s stock worth $52,341,000 after acquiring an additional 5,426,523 shares in the last quarter. Private Management Group Inc. acquired a new position in shares of Algonquin Power & Utilities in the third quarter worth $12,361,000. Yaupon Capital Management LP purchased a new stake in shares of Algonquin Power & Utilities during the 3rd quarter worth $11,997,000. Finally, Davidson Kempner Capital Management LP lifted its position in shares of Algonquin Power & Utilities by 79.8% during the 2nd quarter. Davidson Kempner Capital Management LP now owns 4,634,250 shares of the utilities provider’s stock worth $27,157,000 after purchasing an additional 2,056,534 shares during the last quarter. Institutional investors and hedge funds own 62.28% of the company’s stock.

Algonquin Power & Utilities Price Performance

Shares of AQN opened at $4.47 on Monday. The firm has a fifty day moving average price of $4.87 and a 200 day moving average price of $5.43. Algonquin Power & Utilities Corp. has a 1-year low of $4.42 and a 1-year high of $6.79. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The stock has a market cap of $3.43 billion, a PE ratio of -3.47 and a beta of 0.68.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The business had revenue of $573.20 million during the quarter, compared to analysts’ expectations of $620.46 million. During the same period in the previous year, the company posted $0.11 earnings per share. Algonquin Power & Utilities’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Algonquin Power & Utilities Corp. will post 0.39 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.065 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.26 dividend on an annualized basis and a dividend yield of 5.82%. Algonquin Power & Utilities’s payout ratio is -20.15%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AQN shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $6.00 price objective on shares of Algonquin Power & Utilities in a research report on Friday, October 11th. Wells Fargo & Company decreased their price objective on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. CIBC decreased their price objective on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Janney Montgomery Scott started coverage on shares of Algonquin Power & Utilities in a research report on Thursday, September 5th. They set a “neutral” rating and a $6.00 price objective for the company. Finally, Scotiabank decreased their price objective on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating for the company in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Algonquin Power & Utilities has an average rating of “Hold” and a consensus price target of $6.25.

Algonquin Power & Utilities Profile

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.