Algonquin Power & Utilities Corp. (NYSE:AQN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Algonquin Power & Utilities Corp. is a renewable energy and regulated utility company engaged in the ownership of power generation facilities, and water and energy utilities primarily in North America. The Corporation invests in hydroelectric, wind and solar power facilities, and sustainable utility distribution businesses (water, electricity and natural gas) through its subsidiaries. Algonquin Power & Utilities Corp. is headquartered in Oakville, Canada. “

Algonquin Power & Utilities Corp. (NYSE AQN) traded down $0.15 on Friday, hitting $10.55. 1,208,248 shares of the stock traded hands, compared to its average volume of 136,525. The stock has a market capitalization of $3.99 billion, a PE ratio of 20.70 and a beta of 0.80.

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Hedge funds have recently made changes to their positions in the business. Swiss National Bank increased its holdings in Algonquin Power & Utilities Corp. by 60.4% during the second quarter. Swiss National Bank now owns 621,100 shares of the utilities provider’s stock valued at $6,539,000 after buying an additional 234,000 shares during the last quarter. Barometer Capital Management Inc. increased its holdings in Algonquin Power & Utilities Corp. by 109.5% during the first quarter. Barometer Capital Management Inc. now owns 3,185,783 shares of the utilities provider’s stock valued at $30,520,000 after buying an additional 1,664,783 shares during the last quarter. Montrusco Bolton Investments Inc. increased its holdings in Algonquin Power & Utilities Corp. by 18.6% during the third quarter. Montrusco Bolton Investments Inc. now owns 7,689,672 shares of the utilities provider’s stock valued at $81,099,000 after buying an additional 1,205,668 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Algonquin Power & Utilities Corp. during the second quarter valued at approximately $3,364,000. Finally, UBS Asset Management Americas Inc. increased its holdings in Algonquin Power & Utilities Corp. by 114.0% during the second quarter. UBS Asset Management Americas Inc. now owns 129,365 shares of the utilities provider’s stock valued at $1,360,000 after buying an additional 68,900 shares during the last quarter. 38.23% of the stock is owned by institutional investors and hedge funds.

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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