Marshall Wace LLP Purchases Shares of 75,564 Algonquin Power & Utilities Corp (NYSE:AQN)

Marshall Wace LLP bought a new position in shares of Algonquin Power & Utilities Corp (NYSE:AQN) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 75,564 shares of the utilities provider’s stock, valued at approximately $851,000.

Other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can grew its holdings in shares of Algonquin Power & Utilities by 15.1% during the first quarter. Bank of Montreal Can now owns 40,148,416 shares of the utilities provider’s stock valued at $452,472,000 after buying an additional 5,271,752 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Algonquin Power & Utilities by 27.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,341,610 shares of the utilities provider’s stock valued at $124,067,000 after buying an additional 2,621,641 shares in the last quarter. TD Asset Management Inc. grew its holdings in shares of Algonquin Power & Utilities by 9.6% during the first quarter. TD Asset Management Inc. now owns 10,967,544 shares of the utilities provider’s stock valued at $123,390,000 after buying an additional 964,894 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Algonquin Power & Utilities by 21.7% during the first quarter. Toronto Dominion Bank now owns 8,846,445 shares of the utilities provider’s stock valued at $99,739,000 after buying an additional 1,578,194 shares in the last quarter. Finally, GQG Partners LLC grew its holdings in shares of Algonquin Power & Utilities by 10.7% during the first quarter. GQG Partners LLC now owns 8,334,820 shares of the utilities provider’s stock valued at $93,770,000 after buying an additional 805,896 shares in the last quarter. 46.05% of the stock is currently owned by institutional investors.

A number of research analysts have recently weighed in on AQN shares. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Industrial Alliance Securities reiterated a “buy” rating on shares of Algonquin Power & Utilities in a report on Tuesday, June 4th. National Bank Financial lifted their price target on Ero Copper from C$18.50 to C$21.50 and gave the company a “sector perform” rating in a report on Friday, June 21st. Desjardins lifted their price target on People from C$9.50 to C$9.75 in a report on Tuesday, April 23rd. Finally, TheStreet upgraded WillScot from a “d-” rating to a “c-” rating in a research note on Wednesday, May 8th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $12.44.

NYSE AQN traded down $0.10 on Friday, reaching $12.54. The stock had a trading volume of 207,771 shares, compared to its average volume of 329,723. The firm has a 50 day simple moving average of $12.24. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.29 and a quick ratio of 1.10. Algonquin Power & Utilities Corp has a 1 year low of $9.63 and a 1 year high of $12.67. The company has a market capitalization of $6.16 billion, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 2.59 and a beta of 0.66.

Algonquin Power & Utilities (NYSE:AQN) last issued its earnings results on Thursday, May 9th. The utilities provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). Algonquin Power & Utilities had a net margin of 15.57% and a return on equity of 7.64%. The firm had revenue of $477.23 million during the quarter, compared to analysts’ expectations of $498.08 million. On average, research analysts forecast that Algonquin Power & Utilities Corp will post 0.63 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.142 per share. This represents a $0.57 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend was Thursday, June 27th. This is an increase from Algonquin Power & Utilities’s previous quarterly dividend of $0.13. Algonquin Power & Utilities’s dividend payout ratio is 84.85%.

About Algonquin Power & Utilities

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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