Algonquin Power & Utilities Corp. (AQN) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Algonquin Power & Utilities Corp. (NYSE:AQN) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

According to Zacks, “Algonquin Power & Utilities Corp. is a renewable energy and regulated utility company engaged in the ownership of power generation facilities, and water and energy utilities primarily in North America. The Corporation invests in hydroelectric, wind and solar power facilities, and sustainable utility distribution businesses (water, electricity and natural gas) through its subsidiaries. Algonquin Power & Utilities Corp. is headquartered in Oakville, Canada. “

Shares of Algonquin Power & Utilities Corp. (AQN) opened at $11.08 on Wednesday. Algonquin Power & Utilities Corp. has a 1-year low of $7.84 and a 1-year high of $11.21. The company has a current ratio of 0.80, a quick ratio of 0.65 and a debt-to-equity ratio of 1.27. The firm has a market cap of $4,100.34, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 1.35 and a beta of 0.80.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.1165 per share. This represents a $0.47 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Thursday, December 28th. Algonquin Power & Utilities Corp.’s payout ratio is 123.68%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Swiss National Bank grew its holdings in Algonquin Power & Utilities Corp. by 60.4% during the 2nd quarter. Swiss National Bank now owns 621,100 shares of the utilities provider’s stock worth $6,539,000 after acquiring an additional 234,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in Algonquin Power & Utilities Corp. by 5.6% during the 2nd quarter. Vanguard Group Inc. now owns 7,738,993 shares of the utilities provider’s stock worth $81,570,000 after acquiring an additional 410,997 shares during the last quarter. Montrusco Bolton Investments Inc. grew its holdings in Algonquin Power & Utilities Corp. by 18.6% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 7,689,672 shares of the utilities provider’s stock worth $81,099,000 after acquiring an additional 1,205,668 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in Algonquin Power & Utilities Corp. by 114.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 129,365 shares of the utilities provider’s stock worth $1,360,000 after acquiring an additional 68,900 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in Algonquin Power & Utilities Corp. during the 2nd quarter worth approximately $3,364,000. 38.63% of the stock is currently owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Corp. Company Profile

Algonquin Power & Utilities Corp., through its subsidiaries, engages in the generation, transmission, and distribution of utility assets in North America. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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