Algonquin Power & Utilities Corp. (NYSE:AQN) Shares Bought by GABELLI & Co INVESTMENT ADVISERS INC.

GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 49.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 302,522 shares of the utilities provider’s stock after acquiring an additional 100,572 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Algonquin Power & Utilities were worth $1,346,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Algonquin Power & Utilities by 11.7% in the 3rd quarter. State Street Corp now owns 2,536,900 shares of the utilities provider’s stock valued at $13,991,000 after buying an additional 266,500 shares during the period. Jane Street Group LLC boosted its position in shares of Algonquin Power & Utilities by 321.5% during the 3rd quarter. Jane Street Group LLC now owns 1,124,923 shares of the utilities provider’s stock worth $6,147,000 after purchasing an additional 858,022 shares during the period. Barclays PLC increased its holdings in Algonquin Power & Utilities by 33.2% in the 3rd quarter. Barclays PLC now owns 829,508 shares of the utilities provider’s stock valued at $4,522,000 after purchasing an additional 206,603 shares during the last quarter. Geode Capital Management LLC lifted its stake in Algonquin Power & Utilities by 12.3% during the third quarter. Geode Capital Management LLC now owns 1,179,465 shares of the utilities provider’s stock worth $7,808,000 after purchasing an additional 128,806 shares in the last quarter. Finally, Virtu Financial LLC grew its stake in shares of Algonquin Power & Utilities by 382.0% in the third quarter. Virtu Financial LLC now owns 82,854 shares of the utilities provider’s stock valued at $452,000 after buying an additional 65,663 shares in the last quarter. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AQN has been the subject of a number of research analyst reports. Royal Bank of Canada lowered their target price on Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a report on Tuesday, February 18th. Scotiabank lifted their price objective on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Finally, National Bankshares decreased their price target on shares of Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.94.

Algonquin Power & Utilities Stock Up 3.6 %

AQN stock opened at $5.22 on Tuesday. The company has a market capitalization of $4.01 billion, a P/E ratio of -4.05 and a beta of 0.65. The firm has a 50 day simple moving average of $4.91 and a 200-day simple moving average of $4.79. 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 Corp. has a twelve month low of $4.19 and a twelve month high of $6.79.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Friday, March 7th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.04). The firm had revenue of $584.80 million for the quarter, compared to analyst estimates of $644.73 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. On average, equities research analysts predict that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.065 per share. The ex-dividend date is Monday, March 31st. This represents a $0.26 annualized dividend and a yield of 4.98%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is -14.44%.

About Algonquin Power & Utilities

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.