Bfsg LLC Has $216,000 Stock Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

Bfsg LLC increased its position in Algonquin Power & Utilities Corp. (NYSE:AQN) by 122.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 48,530 shares of the utilities provider’s stock after acquiring an additional 26,700 shares during the period. Bfsg LLC’s holdings in Algonquin Power & Utilities were worth $216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capstone Investment Advisors LLC bought a new stake in shares of Algonquin Power & Utilities in the 3rd quarter valued at about $58,000. Walleye Capital LLC bought a new stake in shares of Algonquin Power & Utilities in the 3rd quarter valued at about $59,000. Verdence Capital Advisors LLC bought a new stake in shares of Algonquin Power & Utilities in the 3rd quarter valued at about $61,000. Raymond James Trust N.A. increased its stake in shares of Algonquin Power & Utilities by 33.4% in the 3rd quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider’s stock valued at $73,000 after acquiring an additional 3,343 shares during the last quarter. Finally, Ballentine Partners LLC bought a new stake in shares of Algonquin Power & Utilities in the 4th quarter valued at about $63,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AQN has been the subject of a number of recent analyst reports. National Bankshares lowered their price target 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. CIBC decreased their price objective on Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Royal Bank of Canada decreased their price objective on Algonquin Power & Utilities from $6.00 to $5.50 and set a “sector perform” rating for the company in a research report on Tuesday. Scotiabank boosted their price objective on Algonquin Power & Utilities from $5.25 to $5.50 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $7.00 price objective on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.00.

Algonquin Power & Utilities Trading Up 0.5 %

NYSE:AQN opened at $4.87 on Wednesday. Algonquin Power & Utilities Corp. has a twelve month low of $4.19 and a twelve month high of $6.79. 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 business has a 50 day moving average price of $4.48 and a two-hundred day moving average price of $4.93. The company has a market cap of $3.73 billion, a P/E ratio of -3.77 and a beta of 0.69.

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.