Algonquin Power & Utilities (NYSE:AQN) Sets New 1-Year High – Here’s What Happened

Algonquin Power & Utilities Corp. (NYSE:AQN) shares reached a new 52-week high on Tuesday . The stock traded as high as $6.65 and last traded at $6.6350, with a volume of 4985161 shares traded. The stock had previously closed at $6.44.

Wall Street Analysts Forecast Growth

AQN has been the subject of several analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Algonquin Power & Utilities in a research note on Monday, December 29th. Natl Bk Canada upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Raymond James Financial lifted their price objective on Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “market perform” rating in a research report on Friday, October 24th. National Bank Financial upgraded shares of Algonquin Power & Utilities from a “sector perform” rating to an “outperform” rating and set a $7.50 target price on the stock in a research note on Wednesday, January 7th. Finally, Janney Montgomery Scott set a $7.00 price target on shares of Algonquin Power & Utilities in a research report on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Algonquin Power & Utilities presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.70.

Algonquin Power & Utilities Stock Performance

The firm has a market capitalization of $5.10 billion, a PE ratio of -165.83 and a beta of 0.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.98 and a current ratio of 1.23. The business’s fifty day simple moving average is $6.15 and its 200-day simple moving average is $5.92.

Algonquin Power & Utilities (NYSE:AQN) last released its earnings results on Friday, November 7th. The utilities provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. The firm had revenue of $600.80 million for the quarter, compared to the consensus estimate of $596.67 million. Algonquin Power & Utilities had a negative net margin of 1.11% and a positive return on equity of 5.14%. During the same quarter in the previous year, the firm earned $0.08 earnings per share. As a group, equities research analysts expect that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current year.

Algonquin Power & Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Wednesday, December 31st. Algonquin Power & Utilities’s dividend payout ratio is -650.00%.

Institutional Investors Weigh In On Algonquin Power & Utilities

A number of hedge funds have recently made changes to their positions in AQN. Public Sector Pension Investment Board lifted its position in Algonquin Power & Utilities by 2.5% in the second quarter. Public Sector Pension Investment Board now owns 74,271 shares of the utilities provider’s stock worth $424,000 after buying an additional 1,800 shares during the last quarter. Ballentine Partners LLC raised its stake in shares of Algonquin Power & Utilities by 10.6% in the second quarter. Ballentine Partners LLC now owns 23,484 shares of the utilities provider’s stock valued at $135,000 after acquiring an additional 2,242 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Algonquin Power & Utilities by 29.1% in the 3rd quarter. SG Americas Securities LLC now owns 15,840 shares of the utilities provider’s stock worth $85,000 after acquiring an additional 3,572 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Algonquin Power & Utilities by 6.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 81,643 shares of the utilities provider’s stock worth $438,000 after purchasing an additional 4,840 shares during the period. Finally, Quarry LP bought a new position in Algonquin Power & Utilities during the 3rd quarter valued at about $29,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

About Algonquin Power & Utilities

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.