Algonquin Power & Utilities Corp. (NYSE:AQN) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $11.00 and last traded at $11.01, with a volume of 82,219 shares. The stock had previously closed at $10.82.

A number of research firms have issued reports on AQN. Zacks Investment Research lowered shares of Algonquin Power & Utilities Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, May 16th. Wells Fargo & Company began coverage on shares of Algonquin Power & Utilities Corp. in a report on Tuesday, June 20th. They set a “market perform” rating on the stock.

The firm has a market cap of $4.24 billion, a P/E ratio of 63.84 and a beta of 0.81. The stock has a 50 day moving average price of $10.49 and a 200-day moving average price of $9.91.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.1165 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.47 annualized dividend and a yield of 4.31%. Algonquin Power & Utilities Corp.’s dividend payout ratio (DPR) is presently 156.67%.

A number of institutional investors have recently made changes to their positions in AQN. Trexquant Investment LP bought a new position in shares of Algonquin Power & Utilities Corp. during the second quarter valued at approximately $119,000. Davis Rea LTD. acquired a new stake in Algonquin Power & Utilities Corp. during the first quarter valued at $123,000. KCG Holdings Inc. boosted its stake in 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 valued at $124,000 after buying an additional 2,288 shares in the last quarter. Virtu KCG Holdings LLC boosted its stake in 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 valued at $147,000 after buying an additional 965 shares in the last quarter. Finally, Alliancebernstein L.P. acquired a new stake in Algonquin Power & Utilities Corp. during the second quarter valued at $161,000. Institutional investors own 40.67% of the company’s stock.

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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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