ExodusPoint Capital Management LP Acquires New Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

ExodusPoint Capital Management LP acquired a new stake in Algonquin Power & Utilities Corp. (NYSE:AQN – Get Rating) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 20,217 shares of the utilities provider’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. US Bancorp DE raised its holdings in Algonquin Power & Utilities by 83.7% in the 3rd quarter. US Bancorp DE now owns 2,485 shares of the utilities provider’s stock valued at $28,000 after buying an additional 1,132 shares during the period. Ten Capital Wealth Advisors LLC purchased a new stake in Algonquin Power & Utilities in the 3rd quarter valued at about $28,000. Power Corp of Canada purchased a new stake in Algonquin Power & Utilities in the 1st quarter valued at about $31,000. Grayhawk Investment Strategies Inc. purchased a new stake in Algonquin Power & Utilities in the 2nd quarter valued at about $34,000. Finally, Captrust Financial Advisors raised its holdings in Algonquin Power & Utilities by 66.4% in the 2nd quarter. Captrust Financial Advisors now owns 3,526 shares of the utilities provider’s stock valued at $47,000 after buying an additional 1,407 shares during the period. 41.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on AQN shares. TD Securities lowered shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating and reduced their price objective for the company from $13.00 to $10.00 in a report on Monday, November 14th. National Bankshares cut their price target on shares of Algonquin Power & Utilities from $13.50 to $12.50 and set a “sector perform” rating on the stock in a research note on Monday, November 14th. Desjardins lowered shares of Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a research note on Friday, January 13th. Royal Bank of Canada cut their price target on shares of Algonquin Power & Utilities from $12.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Wednesday, December 21st. Finally, Raymond James cut their price target on shares of Algonquin Power & Utilities from $11.50 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, January 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Algonquin Power & Utilities presently has an average rating of “Hold” and a consensus price target of $10.08.

Algonquin Power & Utilities Stock Performance

Shares of Algonquin Power & Utilities stock opened at $7.82 on Friday. Algonquin Power & Utilities Corp. has a one year low of $6.41 and a one year high of $16.01. The company has a market cap of $5.35 billion, a PE ratio of 130.33, a P/E/G ratio of 4.16 and a beta of 0.49. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.56 and a current ratio of 0.72. The business has a 50-day simple moving average of $7.27 and a 200-day simple moving average of $9.46.

Algonquin Power & Utilities Profile

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Algonquin Power & Utilities Corp. operates as a diversified utility company. The firm engages in the ownership and operation of a portfolio of regulated and non-regulated generation, distribution and transmission utility assets. It operates through the following segments: Regulated Services Group, and Renewable Energy Group.