Hennessy Advisors Inc. Has $3.20 Million Holdings in Algonquin Power & Utilities Corp (AQN)

Hennessy Advisors Inc. trimmed its stake in Algonquin Power & Utilities Corp (NYSE:AQN) by 8.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 308,664 shares of the utilities provider’s stock after selling 30,000 shares during the period. Hennessy Advisors Inc. owned about 0.07% of Algonquin Power & Utilities worth $3,198,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Hexavest Inc. grew its position in Algonquin Power & Utilities by 46.7% in the third quarter. Hexavest Inc. now owns 876,535 shares of the utilities provider’s stock valued at $9,060,000 after acquiring an additional 278,879 shares during the period. Bank of New York Mellon Corp grew its position in Algonquin Power & Utilities by 437.0% in the second quarter. Bank of New York Mellon Corp now owns 99,535 shares of the utilities provider’s stock valued at $962,000 after acquiring an additional 81,001 shares during the period. Bank of Nova Scotia grew its position in Algonquin Power & Utilities by 12.7% in the second quarter. Bank of Nova Scotia now owns 3,341,644 shares of the utilities provider’s stock valued at $32,224,000 after acquiring an additional 375,294 shares during the period. Paloma Partners Management Co bought a new stake in Algonquin Power & Utilities in the second quarter valued at $226,000. Finally, Bank of America Corp DE grew its position in Algonquin Power & Utilities by 433.1% in the second quarter. Bank of America Corp DE now owns 4,994,669 shares of the utilities provider’s stock valued at $48,298,000 after acquiring an additional 4,057,782 shares during the period. Hedge funds and other institutional investors own 40.96% of the company’s stock.

Algonquin Power & Utilities stock opened at $9.82 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.87 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 17.03, a price-to-earnings-growth ratio of 1.91 and a beta of 0.76. Algonquin Power & Utilities Corp has a 52 week low of $9.45 and a 52 week high of $11.34.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $366.24 million for the quarter, compared to analyst estimates of $332.38 million. Algonquin Power & Utilities had a return on equity of 10.25% and a net margin of 10.92%. Research analysts anticipate that Algonquin Power & Utilities Corp will post 0.68 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were paid a $0.129 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.52 dividend on an annualized basis and a yield of 5.25%. This is a positive change from Algonquin Power & Utilities’s previous quarterly dividend of $0.13. Algonquin Power & Utilities’s payout ratio is currently 87.93%.

AQN has been the topic of a number of analyst reports. National Bank Financial cut Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $11.00 to $10.50 in a research report on Friday, October 5th. ValuEngine upgraded Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Wells Fargo & Co lowered their price target on Algonquin Power & Utilities from $14.00 to $12.00 and set a “market perform” rating on the stock in a research report on Monday, August 20th. Finally, Zacks Investment Research upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating and set a $11.00 price target on the stock in a research report on Wednesday, July 11th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Algonquin Power & Utilities presently has a consensus rating of “Buy” and a consensus price target of $11.17.

Algonquin Power & Utilities Company 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. The company generates and sells electrical energy through a portfolio of non-regulated renewable and clean energy power generation facilities.

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

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