115,500 Shares in Algonquin Power & Utilities Corp (NYSE:AQN) Acquired by Quadrature Capital Ltd

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Quadrature Capital Ltd purchased a new position in shares of Algonquin Power & Utilities Corp (NYSE:AQN) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 115,500 shares of the utilities provider’s stock, valued at approximately $1,484,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Algonquin Power & Utilities during the second quarter worth approximately $42,000. Steward Partners Investment Advisory LLC increased its position in shares of Algonquin Power & Utilities by 67.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 5,163 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 2,073 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of Algonquin Power & Utilities during the second quarter worth approximately $72,000. 1832 Asset Management L.P. increased its position in shares of Algonquin Power & Utilities by 76.0% during the first quarter. 1832 Asset Management L.P. now owns 9,355 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 4,039 shares in the last quarter. Finally, Gulf International Bank UK Ltd increased its position in shares of Algonquin Power & Utilities by 17.6% during the second quarter. Gulf International Bank UK Ltd now owns 10,000 shares of the utilities provider’s stock worth $129,000 after purchasing an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 36.93% of the company’s stock.

AQN traded down $0.09 during mid-day trading on Friday, hitting $13.72. 446,204 shares of the stock were exchanged, compared to its average volume of 657,717. The company has a market cap of $8.04 billion, a PE ratio of 14.14, a PEG ratio of 2.71 and a beta of 0.52. The company has a current ratio of 0.62, a quick ratio of 0.48 and a debt-to-equity ratio of 0.91. Algonquin Power & Utilities Corp has a 1-year low of $9.53 and a 1-year high of $16.85. The firm’s fifty day moving average is $13.70 and its two-hundred day moving average is $13.78.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Thursday, August 13th. The utilities provider reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.03). Algonquin Power & Utilities had a net margin of 31.62% and a return on equity of 8.01%. As a group, research analysts anticipate that Algonquin Power & Utilities Corp will post 0.64 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a yield of 8.98%. The ex-dividend date of this dividend is Tuesday, September 29th. This is an increase from Algonquin Power & Utilities’s previous quarterly dividend of $0.16. Algonquin Power & Utilities’s payout ratio is 98.41%.

AQN has been the subject of several analyst reports. Zacks Investment Research upgraded Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Raymond James set a $18.00 target price on Algonquin Power & Utilities and gave the company a “strong-buy” rating in a report on Monday, August 17th. Wells Fargo & Co dropped their target price on Algonquin Power & Utilities from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Monday, August 17th. Morgan Stanley upped their target price on Algonquin Power & Utilities from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Friday, August 14th. Finally, National Bank Financial set a $15.75 target price on Algonquin Power & Utilities and gave the company an “outperform” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $15.96.

Algonquin Power & Utilities Company 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.

Read More: Equity Income

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

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