Algonquin Power & Utilities Corp (AQN) Shares Sold by Bank of Nova Scotia Trust Co.

Bank of Nova Scotia Trust Co. lowered its holdings in shares of Algonquin Power & Utilities Corp (NYSE:AQN) by 96.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,845 shares of the utilities provider’s stock after selling 742,925 shares during the quarter. Bank of Nova Scotia Trust Co.’s holdings in Algonquin Power & Utilities were worth $310,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Algonquin Power & Utilities by 4.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,819 shares of the utilities provider’s stock worth $360,000 after purchasing an additional 1,497 shares in the last quarter. Advisor Group Inc. grew its position 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 purchasing an additional 2,899 shares in the last quarter. Ingalls & Snyder LLC grew its position in shares of Algonquin Power & Utilities by 6.3% during the fourth quarter. Ingalls & Snyder LLC now owns 50,400 shares of the utilities provider’s stock worth $510,000 after purchasing an additional 3,000 shares in the last quarter. D.A. Davidson & CO. grew its position in shares of Algonquin Power & Utilities by 8.5% during the fourth quarter. D.A. Davidson & CO. now owns 48,432 shares of the utilities provider’s stock worth $487,000 after purchasing an additional 3,797 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Algonquin Power & Utilities by 2.8% during the third quarter. Alliancebernstein L.P. now owns 207,487 shares of the utilities provider’s stock worth $2,150,000 after purchasing an additional 5,645 shares in the last quarter. Hedge funds and other institutional investors own 44.14% of the company’s stock.

Several analysts recently issued reports on the company. National Bank Financial cut Algonquin Power & Utilities from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Thursday, November 8th. Zacks Investment Research cut Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a research report on Monday, January 14th. Canaccord Genuity reiterated a “buy” rating and set a $11.00 target price on shares of Algonquin Power & Utilities in a research report on Wednesday, December 5th. Bank of America assumed coverage on Algonquin Power & Utilities in a research report on Wednesday. They set a “neutral” rating and a $11.00 target price for the company. Finally, Raymond James increased their target price on Algonquin Power & Utilities from $12.50 to $13.00 and gave the stock a “strong-buy” rating in a research report on Friday, December 7th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $11.79.

NYSE AQN opened at $11.10 on Friday. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 1.77 and a beta of 0.73. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.17 and a quick ratio of 0.94. Algonquin Power & Utilities Corp has a 1-year low of $9.45 and a 1-year high of $11.18.

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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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