Amundi Pioneer Asset Management Inc. Takes Position in Algonquin Power & Utilities Corp (NYSE:AQN)

Amundi Pioneer Asset Management Inc. acquired a new position in Algonquin Power & Utilities Corp (NYSE:AQN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 13,467 shares of the utilities provider’s stock, valued at approximately $135,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc boosted its holdings in shares of Algonquin Power & Utilities by 16.4% during the 3rd quarter. Vanguard Group Inc now owns 11,589,361 shares of the utilities provider’s stock worth $120,066,000 after purchasing an additional 1,634,962 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of Algonquin Power & Utilities during the 3rd quarter valued at approximately $6,403,000. Copeland Capital Management LLC raised its position in shares of Algonquin Power & Utilities by 3.0% during the 4th quarter. Copeland Capital Management LLC now owns 2,454,874 shares of the utilities provider’s stock valued at $24,671,000 after buying an additional 70,562 shares during the period. JPMorgan Chase & Co. raised its position in shares of Algonquin Power & Utilities by 16.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 131,895 shares of the utilities provider’s stock valued at $1,366,000 after buying an additional 19,054 shares during the period. Finally, Comerica Bank purchased a new stake in shares of Algonquin Power & Utilities during the 3rd quarter valued at approximately $101,000. Institutional investors own 45.41% of the company’s stock.

NYSE AQN traded up $0.03 on Friday, reaching $11.32. The stock had a trading volume of 152,203 shares, compared to its average volume of 279,798. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.65 and a beta of 0.74. The company has a quick ratio of 0.79, a current ratio of 0.99 and a debt-to-equity ratio of 0.95. Algonquin Power & Utilities Corp has a 12-month low of $9.45 and a 12-month high of $11.60.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results on Thursday, February 28th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Algonquin Power & Utilities had a return on equity of 9.35% and a net margin of 11.23%. The company had revenue of $419.90 million for the quarter, compared to analyst estimates of $414.08 million. Analysts anticipate that Algonquin Power & Utilities Corp will post 0.66 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.128 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend was Thursday, March 28th. Algonquin Power & Utilities’s dividend payout ratio is currently 77.27%.

Several analysts have recently commented on AQN shares. Raymond James reaffirmed a “strong-buy” rating and set a $13.00 price target on shares of Algonquin Power & Utilities in a research report on Friday, March 1st. TD Securities lifted their price target on shares of Algonquin Power & Utilities from $12.00 to $12.50 and gave the company a “buy” rating in a research report on Monday, March 4th. Canaccord Genuity lowered shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. Bank of America initiated coverage on Algonquin Power & Utilities in a research report on Wednesday, February 27th. They issued a “neutral” rating and a $11.00 target price on the stock. Finally, National Bank Financial boosted their target price on Algonquin Power & Utilities from $11.50 to $12.00 and gave the company a “sector perform” rating in a research report on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Algonquin Power & Utilities has an average rating of “Hold” and an average price target of $12.13.

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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.

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

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