Shares of Algonquin Power & Utilities Corp. (NYSE:AQN) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $11.13 and last traded at $11.12, with a volume of 108,731 shares. The stock had previously closed at $10.99.

Several brokerages have weighed in on AQN. Zacks Investment Research raised Algonquin Power & Utilities Corp. from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Wednesday, August 30th. Wells Fargo & Company began coverage on Algonquin Power & Utilities Corp. in a research note on Tuesday, June 20th. They set a “market perform” rating on the stock.

The firm has a market cap of $4.29 billion, a PE ratio of 64.71 and a beta of 0.81. The firm’s 50 day moving average is $10.66 and its 200 day moving average is $10.06.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a $0.1165 dividend. This represents a $0.47 annualized dividend and a dividend yield of 4.24%. The ex-dividend date is Thursday, September 28th. Algonquin Power & Utilities Corp.’s dividend payout ratio (DPR) is presently 156.67%.

Several hedge funds have recently added to or reduced their stakes in AQN. Trexquant Investment LP purchased a new position in shares of Algonquin Power & Utilities Corp. in the second quarter worth $119,000. KCG Holdings Inc. lifted its holdings 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 buying an additional 2,288 shares in the last quarter. Virtu KCG Holdings LLC lifted its holdings 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 buying an additional 965 shares in the last quarter. Alliancebernstein L.P. purchased a new position in shares of Algonquin Power & Utilities Corp. in the second quarter worth $161,000. Finally, Jane Street Group LLC purchased a new position in shares of Algonquin Power & Utilities Corp. in the first quarter worth $214,000. 38.06% of the stock is currently owned by hedge funds and other institutional investors.

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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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