Cubist Systematic Strategies LLC Buys 46,592 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Cubist Systematic Strategies LLC increased its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 25.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 226,491 shares of the utilities provider’s stock after purchasing an additional 46,592 shares during the period. Cubist Systematic Strategies LLC’s holdings in Algonquin Power & Utilities were worth $1,005,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Capstone Investment Advisors LLC grew its stake in Algonquin Power & Utilities by 59.6% during the fourth quarter. Capstone Investment Advisors LLC now owns 17,060 shares of the utilities provider’s stock worth $76,000 after purchasing an additional 6,370 shares during the period. Northern Trust Corp grew its stake in Algonquin Power & Utilities by 14.8% during the fourth quarter. Northern Trust Corp now owns 257,472 shares of the utilities provider’s stock worth $1,146,000 after purchasing an additional 33,139 shares during the period. The Manufacturers Life Insurance Company grew its stake in Algonquin Power & Utilities by 5.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 8,140,676 shares of the utilities provider’s stock worth $36,217,000 after purchasing an additional 420,202 shares during the period. Aquatic Capital Management LLC acquired a new stake in Algonquin Power & Utilities during the fourth quarter worth approximately $1,638,000. Finally, Nebula Research & Development LLC grew its stake in Algonquin Power & Utilities by 157.0% during the fourth quarter. Nebula Research & Development LLC now owns 161,576 shares of the utilities provider’s stock worth $719,000 after purchasing an additional 98,702 shares during the period. Institutional investors and hedge funds own 62.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AQN shares. National Bankshares decreased their target price on Algonquin Power & Utilities from $6.75 to $6.25 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. StockNews.com upgraded Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a report on Tuesday. CIBC cut their price target on Algonquin Power & Utilities from $5.50 to $5.25 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Scotiabank increased their price target on Algonquin Power & Utilities from $5.50 to $6.00 and gave the stock a “sector perform” rating in a report on Monday. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $6.00 price target (up previously from $5.00) on shares of Algonquin Power & Utilities in a report on Monday. Ten research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.03.

Algonquin Power & Utilities Stock Down 2.7%

AQN stock opened at $5.46 on Thursday. Algonquin Power & Utilities Corp. has a twelve month low of $4.19 and a twelve month high of $6.75. The company has a quick ratio of 0.73, a current ratio of 0.92 and a debt-to-equity ratio of 1.17. The stock’s 50 day moving average is $5.19 and its 200-day moving average is $4.83. The firm has a market capitalization of $4.19 billion, a PE ratio of -4.23 and a beta of 0.67.

Algonquin Power & Utilities (NYSE:AQN) last posted its earnings results on Friday, May 9th. The utilities provider reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The company had revenue of $692.40 million for the quarter, compared to analyst estimates of $699.08 million. During the same quarter last year, the company earned $0.14 earnings per share. Sell-side analysts expect that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.065 per share. The ex-dividend date is Monday, June 30th. This represents a $0.26 dividend on an annualized basis and a yield of 4.76%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently -15.48%.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.