Euro Pacific Asset Management LLC Increases Holdings in Algonquin Power & Utilities Corp. $AQN

Euro Pacific Asset Management LLC raised its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 98.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 703,450 shares of the utilities provider’s stock after purchasing an additional 349,400 shares during the period. Euro Pacific Asset Management LLC’s holdings in Algonquin Power & Utilities were worth $4,307,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. EdgePoint Investment Group Inc. grew its position in shares of Algonquin Power & Utilities by 32.6% in the 4th quarter. EdgePoint Investment Group Inc. now owns 81,727,385 shares of the utilities provider’s stock worth $502,563,000 after buying an additional 20,074,709 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Algonquin Power & Utilities during the fourth quarter valued at approximately $74,263,000. Norges Bank purchased a new stake in Algonquin Power & Utilities in the fourth quarter worth $67,065,000. Goldman Sachs Group Inc. lifted its stake in Algonquin Power & Utilities by 65.0% in the first quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock worth $62,738,000 after acquiring an additional 4,808,539 shares during the period. Finally, Citadel Advisors LLC boosted its holdings in Algonquin Power & Utilities by 14,166.9% in the third quarter. Citadel Advisors LLC now owns 4,445,126 shares of the utilities provider’s stock valued at $23,870,000 after acquiring an additional 4,476,726 shares in the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AQN shares. Wells Fargo & Company started coverage on shares of Algonquin Power & Utilities in a research report on Tuesday, May 12th. They set an “equal weight” rating and a $7.00 price objective on the stock. Barclays started coverage on shares of Algonquin Power & Utilities in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $7.00 target price for the company. Canadian Imperial Bank of Commerce lifted their target price on shares of Algonquin Power & Utilities from $6.25 to $6.50 and gave the company a “neutral” rating in a research note on Monday, April 20th. National Bank Financial reduced their price target on shares of Algonquin Power & Utilities from $7.25 to $7.00 and set an “outperform” rating on the stock in a research report on Friday, July 3rd. Finally, Weiss Ratings raised shares of Algonquin Power & Utilities from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, April 21st. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Algonquin Power & Utilities currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.81.

Algonquin Power & Utilities Trading Down 0.6%

NYSE AQN opened at $5.83 on Friday. The firm has a market capitalization of $4.49 billion, a PE ratio of 26.52 and a beta of 0.71. The stock’s 50 day moving average is $5.85 and its 200 day moving average is $6.22. Algonquin Power & Utilities Corp. has a twelve month low of $5.32 and a twelve month high of $7.11. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 1.26.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $713.69 million during the quarter, compared to the consensus estimate of $713.69 million. Algonquin Power & Utilities had a return on equity of 5.21% and a net margin of 6.62%.During the same quarter in the prior year, the company earned $0.14 earnings per share. Research analysts forecast that Algonquin Power & Utilities Corp. will post 0.36 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.065 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.5%. Algonquin Power & Utilities’s dividend payout ratio is currently 118.18%.

Algonquin Power & Utilities Profile

Algonquin Power & Utilities Corp (NYSE: AQN) is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.

The company’s renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.