Alberta Investment Management Corp Purchases 402,500 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Alberta Investment Management Corp increased its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,052,789 shares of the utilities provider’s stock after purchasing an additional 402,500 shares during the quarter. Alberta Investment Management Corp owned 0.66% of Algonquin Power & Utilities worth $22,458,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Private Advisor Group LLC raised its stake in Algonquin Power & Utilities by 14.1% during the third quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider’s stock worth $97,000 after acquiring an additional 2,201 shares in the last quarter. Raymond James Trust N.A. raised its stake in Algonquin Power & Utilities by 33.4% during the third quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider’s stock worth $73,000 after acquiring an additional 3,343 shares in the last quarter. CIBC Asset Management Inc raised its stake in Algonquin Power & Utilities by 0.4% during the fourth quarter. CIBC Asset Management Inc now owns 935,130 shares of the utilities provider’s stock worth $4,141,000 after acquiring an additional 3,656 shares in the last quarter. Northwest & Ethical Investments L.P. increased its stake in shares of Algonquin Power & Utilities by 12.3% in the third quarter. Northwest & Ethical Investments L.P. now owns 47,155 shares of the utilities provider’s stock valued at $258,000 after buying an additional 5,158 shares during the period. Finally, Redwood Investment Management LLC increased its stake in shares of Algonquin Power & Utilities by 1.2% in the third quarter. Redwood Investment Management LLC now owns 505,299 shares of the utilities provider’s stock valued at $2,794,000 after buying an additional 6,176 shares during the period. Institutional investors own 62.28% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. CIBC lowered their price objective on Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. National Bankshares reduced their target price on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a report on Thursday, December 12th. Scotiabank increased their price target on Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada cut their price target on Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Algonquin Power & Utilities has an average rating of “Hold” and an average target price of $6.00.

Algonquin Power & Utilities Trading Up 0.5 %

NYSE AQN opened at $4.87 on Wednesday. The firm has a market capitalization of $3.73 billion, a P/E ratio of -3.77 and a beta of 0.69. The business has a fifty day simple moving average of $4.48 and a 200 day simple moving average of $4.93. Algonquin Power & Utilities Corp. has a 12 month low of $4.19 and a 12 month high of $6.79. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17.

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.