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 report published on Friday 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. “
Algonquin Power & Utilities Corp. (NYSE:AQN) opened at $10.55 on Friday. 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 capitalization of $4,069.48, a PE ratio of 21.10, a price-to-earnings-growth ratio of 1.33 and a beta of 0.80. Algonquin Power & Utilities Corp. has a twelve month low of $7.75 and a twelve month high of $11.21.
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The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were issued a dividend of $0.1165 per share. This represents a $0.47 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date was Thursday, September 28th. Algonquin Power & Utilities Corp.’s payout ratio is presently 156.67%.
A number of hedge funds have recently bought and sold shares of AQN. Trexquant Investment LP purchased a new position in Algonquin Power & Utilities Corp. during the 2nd quarter valued at about $119,000. KCG Holdings Inc. grew its holdings in shares of Algonquin Power & Utilities Corp. by 21.3% during the first quarter. KCG Holdings Inc. now owns 13,032 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 2,288 shares in the last quarter. Virtu KCG Holdings LLC grew its holdings in shares of Algonquin Power & Utilities Corp. by 7.4% during the second quarter. Virtu KCG Holdings LLC now owns 13,997 shares of the utilities provider’s stock worth $147,000 after purchasing an additional 965 shares in the last quarter. Alliancebernstein L.P. purchased a new position in shares of Algonquin Power & Utilities Corp. during the second quarter worth about $161,000. Finally, Jane Street Group LLC purchased a new position in shares of Algonquin Power & Utilities Corp. during the first quarter worth about $214,000. 38.77% of the stock is owned by institutional investors and hedge funds.
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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