Raymond James Financial Services Advisors Inc. Boosts Stake in Algonquin Power & Utilities Corp (NYSE:AQN)

Share on StockTwits

Raymond James Financial Services Advisors Inc. lifted its stake in shares of Algonquin Power & Utilities Corp (NYSE:AQN) by 6.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 48,866 shares of the utilities provider’s stock after purchasing an additional 3,150 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Algonquin Power & Utilities were worth $550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Comerica Bank lifted its stake in shares of Algonquin Power & Utilities by 9.6% during the first quarter. Comerica Bank now owns 10,978 shares of the utilities provider’s stock worth $126,000 after buying an additional 963 shares during the period. MML Investors Services LLC lifted its stake in shares of Algonquin Power & Utilities by 11.7% during the fourth quarter. MML Investors Services LLC now owns 14,938 shares of the utilities provider’s stock worth $150,000 after buying an additional 1,566 shares during the period. Stevens Capital Management LP lifted its stake in shares of Algonquin Power & Utilities by 9.9% during the first quarter. Stevens Capital Management LP now owns 21,888 shares of the utilities provider’s stock worth $247,000 after buying an additional 1,975 shares during the period. Advisor Group Inc. lifted its stake in shares of Algonquin Power & Utilities by 48.3% during the fourth quarter. Advisor Group Inc. now owns 8,906 shares of the utilities provider’s stock worth $89,000 after buying an additional 2,899 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Algonquin Power & Utilities by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 49,575 shares of the utilities provider’s stock worth $498,000 after buying an additional 3,100 shares during the period. Institutional investors and hedge funds own 46.03% of the company’s stock.

Shares of Algonquin Power & Utilities stock opened at $12.16 on Friday. Algonquin Power & Utilities Corp has a 1 year low of $9.45 and a 1 year high of $12.34. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.29 and a quick ratio of 1.10. The firm has a market cap of $5.97 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 2.49 and a beta of 0.67.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.19 earnings per share 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. As a group, equities analysts anticipate that Algonquin Power & Utilities Corp will post 0.63 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.142 dividend. This is a boost from Algonquin Power & Utilities’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.57 dividend on an annualized basis and a yield of 4.67%. Algonquin Power & Utilities’s payout ratio is presently 77.27%.

Several brokerages recently issued reports on AQN. National Bank Financial raised their target price on shares of Algonquin Power & Utilities from $11.50 to $12.00 and gave the stock a “sector perform” rating in a report on Monday, April 22nd. Zacks Investment Research raised shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a report on Wednesday, June 5th. Raymond James reissued a “strong-buy” rating and set a $13.00 target price on shares of Algonquin Power & Utilities in a report on Tuesday, June 4th. Industrial Alliance Securities reissued a “buy” rating on shares of Algonquin Power & Utilities in a report on Tuesday, June 4th. Finally, ValuEngine raised shares of Algonquin Power & Utilities from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Five investment analysts have rated the stock with a hold rating, four have issued 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 target price of $12.13.

TRADEMARK VIOLATION WARNING: This piece was posted by Ticker Report and is the sole property of of Ticker Report. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this piece can be read at https://www.tickerreport.com/banking-finance/4371240/raymond-james-financial-services-advisors-inc-boosts-stake-in-algonquin-power-utilities-corp-nyseaqn.html.

Algonquin Power & Utilities Profile

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.

Recommended Story: Short Selling Stocks, A Beginner’s Guide

Want to see what other hedge funds are holding AQN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Algonquin Power & Utilities Corp (NYSE:AQN).

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

Receive News & Ratings for Algonquin Power & Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Algonquin Power & Utilities and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

COZ Trading 31.9% Higher  This Week
COZ Trading 31.9% Higher This Week
Texas Pacific Land Trust  Major Shareholder Purchases $36,999.50 in Stock
Texas Pacific Land Trust Major Shareholder Purchases $36,999.50 in Stock
Kimberly Clark  Price Target Raised to $122.00 at Deutsche Bank
Kimberly Clark Price Target Raised to $122.00 at Deutsche Bank
Iamgold Corp  Receives Consensus Rating of “Buy” from Brokerages
Iamgold Corp Receives Consensus Rating of “Buy” from Brokerages
Shift   Trading 11% Lower  Over Last 7 Days
Shift Trading 11% Lower Over Last 7 Days
Stans Energy  Trading Down 14%
Stans Energy Trading Down 14%


© 2006-2019 Ticker Report