Algonquin Power & Utilities Corp. (NYSE:AQN) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC grew its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQNFree Report) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 356,479 shares of the utilities provider’s stock after purchasing an additional 6,694 shares during the period. Hsbc Holdings PLC owned approximately 0.05% of Algonquin Power & Utilities worth $2,249,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AQN. Vanguard Group Inc. increased its stake in Algonquin Power & Utilities by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 25,717,759 shares of the utilities provider’s stock valued at $152,249,000 after buying an additional 413,104 shares during the period. Toronto Dominion Bank increased its stake in shares of Algonquin Power & Utilities by 7.9% during the third quarter. Toronto Dominion Bank now owns 13,293,748 shares of the utilities provider’s stock valued at $78,699,000 after acquiring an additional 978,758 shares during the period. Invesco Ltd. raised its holdings in Algonquin Power & Utilities by 6.6% during the third quarter. Invesco Ltd. now owns 9,881,130 shares of the utilities provider’s stock worth $58,496,000 after purchasing an additional 616,049 shares in the last quarter. National Bank of Canada FI lifted its position in Algonquin Power & Utilities by 5.7% in the fourth quarter. National Bank of Canada FI now owns 9,602,819 shares of the utilities provider’s stock worth $61,848,000 after purchasing an additional 516,148 shares during the period. Finally, Legal & General Group Plc boosted its stake in Algonquin Power & Utilities by 1.2% during the 3rd quarter. Legal & General Group Plc now owns 8,292,660 shares of the utilities provider’s stock valued at $49,312,000 after purchasing an additional 99,374 shares in the last quarter. 62.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. TD Securities upped their price objective on Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “hold” rating in a report on Monday, March 11th. Wells Fargo & Company upped their price target on shares of Algonquin Power & Utilities from $8.00 to $8.50 and gave the company an “overweight” rating in a report on Monday, May 13th. National Bankshares lifted their price objective on shares of Algonquin Power & Utilities from $6.75 to $7.25 and gave the stock a “sector perform” rating in a research note on Tuesday, May 28th. StockNews.com raised shares of Algonquin Power & Utilities to a “sell” rating in a research note on Friday, May 10th. Finally, Desjardins lifted their price target on shares of Algonquin Power & Utilities from $5.25 to $5.50 and gave the stock a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $7.47.

Check Out Our Latest Report on Algonquin Power & Utilities

Algonquin Power & Utilities Trading Down 0.2 %

NYSE AQN opened at $6.20 on Friday. The firm’s 50 day moving average price is $6.31 and its two-hundred day moving average price is $6.19. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of -12.65 and a beta of 0.68. Algonquin Power & Utilities Corp. has a twelve month low of $4.90 and a twelve month high of $8.74. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.79 and a current ratio of 0.98.

Algonquin Power & Utilities (NYSE:AQNGet Free Report) last issued its quarterly earnings results on Friday, May 10th. The utilities provider reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Algonquin Power & Utilities had a negative net margin of 12.44% and a positive return on equity of 5.39%. The business had revenue of $737.10 million for the quarter, compared to analysts’ expectations of $813.38 million. During the same quarter in the prior year, the firm posted $0.17 EPS. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. Equities analysts anticipate that Algonquin Power & Utilities Corp. will post 0.46 EPS for the current year.

Algonquin Power & Utilities Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.108 dividend. This represents a $0.43 dividend on an annualized basis and a dividend yield of 6.97%. The ex-dividend date of this dividend is Friday, June 28th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is -87.76%.

About Algonquin Power & Utilities

(Free Report)

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.

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

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