Vanguard Group Inc. Purchases 1,086,040 Shares of Algonquin Power & Utilities Corp. $AQN

Vanguard Group Inc. boosted its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,744,586 shares of the utilities provider’s stock after acquiring an additional 1,086,040 shares during the period. Vanguard Group Inc.’s holdings in Algonquin Power & Utilities were worth $181,377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of AQN. Wedbush Securities Inc. bought a new position in shares of Algonquin Power & Utilities during the 2nd quarter valued at about $58,000. Davis Rea LTD. bought a new position in Algonquin Power & Utilities in the third quarter valued at approximately $67,000. SG Americas Securities LLC boosted its holdings in shares of Algonquin Power & Utilities by 29.1% in the third quarter. SG Americas Securities LLC now owns 15,840 shares of the utilities provider’s stock valued at $85,000 after buying an additional 3,572 shares during the period. Envestnet Asset Management Inc. acquired a new stake in shares of Algonquin Power & Utilities during the second quarter worth $85,000. Finally, Moors & Cabot Inc. bought a new stake in Algonquin Power & Utilities in the 2nd quarter valued at $99,000. 62.28% of the stock is currently owned by institutional investors.

Algonquin Power & Utilities Price Performance

NYSE:AQN opened at $6.95 on Tuesday. The stock has a market capitalization of $5.34 billion, a PE ratio of -173.71 and a beta of 0.75. Algonquin Power & Utilities Corp. has a 1-year low of $4.29 and a 1-year high of $7.11. The firm has a fifty day simple moving average of $6.50 and a 200 day simple moving average of $6.05. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26.

Analysts Set New Price Targets

Several analysts have issued reports on AQN shares. Weiss Ratings raised Algonquin Power & Utilities from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 17th. National Bank Financial set a $7.50 target price on Algonquin Power & Utilities in a research report on Wednesday, January 7th. Zacks Research upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Scotiabank raised Algonquin Power & Utilities from a “sector perform” rating to a “sector outperform” rating and set a $6.50 price target for the company in a research report on Tuesday, December 16th. Finally, Desjardins lifted their price objective on shares of Algonquin Power & Utilities from $7.00 to $7.25 and gave the company a “buy” rating in a report on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.67.

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.