Mufg Securities Canada LTD. Has $5.20 Million Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

Mufg Securities Canada LTD. raised its holdings in Algonquin Power & Utilities Corp. (NYSE:AQN) by 72.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,171,588 shares of the utilities provider’s stock after acquiring an additional 490,829 shares during the period. Mufg Securities Canada LTD. owned about 0.15% of Algonquin Power & Utilities worth $5,197,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AQN. Vanguard Group Inc. increased its holdings in Algonquin Power & Utilities by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 31,510,928 shares of the utilities provider’s stock worth $139,845,000 after purchasing an additional 544,198 shares in the last quarter. Bank of Montreal Can boosted its position in Algonquin Power & Utilities by 6.0% during the 3rd quarter. Bank of Montreal Can now owns 20,882,966 shares of the utilities provider’s stock worth $115,175,000 after buying an additional 1,190,236 shares during the period. EdgePoint Investment Group Inc. grew its holdings in Algonquin Power & Utilities by 5.1% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 17,190,084 shares of the utilities provider’s stock worth $93,918,000 after acquiring an additional 832,739 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Algonquin Power & Utilities by 45.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 12,959,770 shares of the utilities provider’s stock valued at $70,806,000 after acquiring an additional 4,054,711 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Algonquin Power & Utilities by 6.1% during the third quarter. The Manufacturers Life Insurance Company now owns 7,720,474 shares of the utilities provider’s stock valued at $42,105,000 after acquiring an additional 447,246 shares during the last quarter. Institutional investors and hedge funds own 62.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AQN shares. Royal Bank of Canada reduced their price objective on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating on the stock in a research note on Tuesday, February 18th. National Bankshares lowered their price objective on 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. JPMorgan Chase & Co. restated a “neutral” rating and set a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. Finally, Scotiabank lifted their target price 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Algonquin Power & Utilities has an average rating of “Hold” and an average price target of $5.94.

Algonquin Power & Utilities Stock Performance

NYSE:AQN opened at $5.11 on Wednesday. Algonquin Power & Utilities Corp. has a 52-week low of $4.19 and a 52-week high of $6.79. The business’s fifty day moving average is $4.73 and its 200 day moving average is $4.83. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.73 and a current ratio of 0.92. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -3.96 and a beta of 0.71.

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

Algonquin Power & Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.065 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.26 annualized dividend and a dividend yield of 5.09%. Algonquin Power & Utilities’s payout ratio is currently -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.