2,201,336 Shares in Algonquin Power & Utilities Corp. (NYSE:AQN) Purchased by Yaupon Capital Management LP

Yaupon Capital Management LP purchased a new position in Algonquin Power & Utilities Corp. (NYSE:AQN) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,201,336 shares of the utilities provider’s stock, valued at approximately $11,997,000.

A number of other institutional investors also recently bought and sold shares of AQN. Central Pacific Bank Trust Division purchased a new stake in shares of Algonquin Power & Utilities in the 3rd quarter valued at $54,000. Claro Advisors LLC acquired a new stake in Algonquin Power & Utilities during the 2nd quarter worth about $61,000. Capstone Investment Advisors LLC purchased a new position in shares of Algonquin Power & Utilities during the 3rd quarter valued at about $58,000. Walleye Capital LLC acquired a new position in shares of Algonquin Power & Utilities in the 3rd quarter valued at about $59,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of Algonquin Power & Utilities in the second quarter worth about $66,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AQN has been the subject of several recent research reports. Desjardins reduced their price target on Algonquin Power & Utilities from $5.50 to $5.25 and set a “hold” rating for the company in a research report on Monday, August 12th. Wells Fargo & Company decreased their target price on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. National Bank Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 12th. Scotiabank decreased their price objective on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $6.00 target price on shares of Algonquin Power & Utilities in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.18.

Algonquin Power & Utilities Stock Down 1.0 %

Shares of AQN opened at $4.69 on Friday. The stock has a 50 day moving average price of $4.95 and a 200 day moving average price of $5.51. Algonquin Power & Utilities Corp. has a one year low of $4.64 and a one year high of $6.79. 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 (NYSE:AQN) last released its earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The business had revenue of $573.20 million for the quarter, compared to analysts’ expectations of $620.46 million. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. Algonquin Power & Utilities’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 EPS. As a group, analysts forecast that Algonquin Power & Utilities Corp. will post 0.39 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.26 dividend on an annualized basis and a yield of 5.55%. Algonquin Power & Utilities’s payout ratio is -20.15%.

Algonquin Power & Utilities Company Profile

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.