Algonquin Power & Utilities Corp. (AQN) Position Raised by Intact Investment Management Inc.

Intact Investment Management Inc. boosted its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 12.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,010,360 shares of the utilities provider’s stock after purchasing an additional 651,000 shares during the period. Algonquin Power & Utilities Corp. accounts for approximately 3.4% of Intact Investment Management Inc.’s holdings, making the stock its 5th largest holding. Intact Investment Management Inc. owned approximately 1.56% of Algonquin Power & Utilities Corp. worth $79,217,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Trexquant Investment LP acquired a new stake in Algonquin Power & Utilities Corp. during the 2nd quarter valued at $119,000. KCG Holdings Inc. increased its holdings in Algonquin Power & Utilities Corp. by 21.3% during the 1st quarter. KCG Holdings Inc. now owns 13,032 shares of the utilities provider’s stock valued at $124,000 after purchasing an additional 2,288 shares in the last quarter. Virtu KCG Holdings LLC increased its holdings in Algonquin Power & Utilities Corp. by 7.4% during the 2nd quarter. Virtu KCG Holdings LLC now owns 13,997 shares of the utilities provider’s stock valued at $147,000 after purchasing an additional 965 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in Algonquin Power & Utilities Corp. during the 2nd quarter valued at $161,000. Finally, Jane Street Group LLC acquired a new stake in Algonquin Power & Utilities Corp. during the 1st quarter valued at $214,000. 38.23% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research raised Algonquin Power & Utilities Corp. from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Monday, August 14th.

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Algonquin Power & Utilities Corp. (AQN) traded down 0.46% during midday trading on Tuesday, reaching $10.73. The company had a trading volume of 96,201 shares. Algonquin Power & Utilities Corp. has a 12 month low of $7.75 and a 12 month high of $11.21. The stock has a market cap of $4.14 billion, a P/E ratio of 59.94 and a beta of 0.81. The firm has a 50-day moving average of $10.77 and a 200-day moving average of $10.44.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were given a dividend of $0.1165 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.47 annualized dividend and a yield of 4.32%. Algonquin Power & Utilities Corp.’s dividend payout ratio is currently 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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