Algonquin Power & Utilities Corp. (AQN) Shares Sold by Scotia Capital Inc.

Scotia Capital Inc. decreased its stake in Algonquin Power & Utilities Corp. (NYSE:AQN) by 4.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,971,959 shares of the utilities provider’s stock after selling 231,798 shares during the period. Algonquin Power & Utilities Corp. makes up 0.9% of Scotia Capital Inc.’s portfolio, making the stock its 27th largest holding. Scotia Capital Inc. owned approximately 1.29% of Algonquin Power & Utilities Corp. worth $52,263,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the company. Virtu KCG Holdings LLC grew its stake in shares of Algonquin Power & Utilities Corp. by 7.4% in the second quarter. Virtu KCG Holdings LLC now owns 13,997 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 965 shares during the last quarter. KCG Holdings Inc. grew its stake in shares of Algonquin Power & Utilities Corp. by 21.3% in the first quarter. KCG Holdings Inc. now owns 13,032 shares of the utilities provider’s stock worth $124,000 after acquiring an additional 2,288 shares during the last quarter. Hillsdale Investment Management Inc. grew its stake in shares of Algonquin Power & Utilities Corp. by 4.6% in the second quarter. Hillsdale Investment Management Inc. now owns 82,270 shares of the utilities provider’s stock worth $866,000 after acquiring an additional 3,600 shares during the last quarter. Naples Global Advisors LLC grew its stake in shares of Algonquin Power & Utilities Corp. by 3.8% in the second quarter. Naples Global Advisors LLC now owns 135,205 shares of the utilities provider’s stock worth $1,425,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Algonquin Power & Utilities Corp. by 19.0% in the second quarter. Bank of New York Mellon Corp now owns 34,415 shares of the utilities provider’s stock worth $362,000 after acquiring an additional 5,500 shares during the last quarter. Institutional investors and hedge funds own 38.06% of the company’s stock.

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Several equities research analysts have recently issued reports on AQN shares. Wells Fargo & Company started coverage on shares of Algonquin Power & Utilities Corp. in a research note on Tuesday, June 20th. They issued a “market perform” rating on the stock. Zacks Investment Research upgraded shares of Algonquin Power & Utilities Corp. from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Wednesday, August 30th.

Shares of Algonquin Power & Utilities Corp. (NYSE AQN) traded up 0.75% during midday trading on Tuesday, hitting $10.80. 183,947 shares of the stock traded hands. The company has a market capitalization of $4.17 billion, a PE ratio of 60.34 and a beta of 0.81. Algonquin Power & Utilities Corp. has a 12-month low of $7.75 and a 12-month high of $11.21. The firm’s 50 day moving average price is $10.75 and its 200 day moving average price is $10.30.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a dividend of $0.1165 per share. This represents a $0.47 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date is Thursday, September 28th. Algonquin Power & Utilities Corp.’s payout ratio is presently 156.67%.

About Algonquin Power & Utilities Corp.

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

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