CIBC Asset Management Inc cut its position in Algonquin Power & Utilities Corp. (NYSE:AQN) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,614 shares of the utilities provider’s stock after selling 1,826 shares during the period. CIBC Asset Management Inc’s holdings in Algonquin Power & Utilities Corp. were worth $1,541,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AQN. Bank of Montreal Can increased its position in Algonquin Power & Utilities Corp. by 66.2% in the first quarter. Bank of Montreal Can now owns 14,216,471 shares of the utilities provider’s stock worth $136,194,000 after buying an additional 5,661,282 shares in the last quarter. Barometer Capital Management Inc. increased its position in Algonquin Power & Utilities Corp. by 109.5% in the first quarter. Barometer Capital Management Inc. now owns 3,185,783 shares of the utilities provider’s stock worth $30,520,000 after buying an additional 1,664,783 shares in the last quarter. LGT Capital Partners LTD. increased its position in Algonquin Power & Utilities Corp. by 15.9% in the first quarter. LGT Capital Partners LTD. now owns 800,000 shares of the utilities provider’s stock worth $7,620,000 after buying an additional 110,000 shares in the last quarter. Hexavest Inc. increased its position in Algonquin Power & Utilities Corp. by 4.9% in the first quarter. Hexavest Inc. now owns 692,728 shares of the utilities provider’s stock worth $6,597,000 after buying an additional 32,198 shares in the last quarter. Finally, Naples Global Advisors LLC purchased a new position in Algonquin Power & Utilities Corp. during the first quarter worth approximately $1,247,000. Hedge funds and other institutional investors own 40.67% of the company’s stock.

Algonquin Power & Utilities Corp. (NYSE AQN) opened at 10.43 on Thursday. The firm’s 50-day moving average price is $10.51 and its 200 day moving average price is $9.79. The firm has a market cap of $4.01 billion, a P/E ratio of 67.29 and a beta of 0.81. Algonquin Power & Utilities Corp. has a one year low of $7.75 and a one year high of $10.85.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were issued a dividend of $0.1165 per share. This represents a $0.47 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend was Wednesday, June 28th. Algonquin Power & Utilities Corp.’s payout ratio is presently 174.07%.

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Several equities analysts have commented on the company. Zacks Investment Research upgraded Algonquin Power & Utilities Corp. from a “sell” rating to a “hold” rating in a report on Friday, April 14th. Wells Fargo & Company assumed coverage on Algonquin Power & Utilities Corp. in a report on Tuesday, June 20th. They set a “market perform” rating on the stock.

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Institutional Ownership by Quarter for Algonquin Power & Utilities Corp. (NYSE:AQN)

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