Triasima Portfolio Management inc. Buys Shares of 198,965 Algonquin Power & Utilities Corp. $AQN

Triasima Portfolio Management inc. bought a new stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 198,965 shares of the utilities provider’s stock, valued at approximately $1,070,000.

Several other institutional investors have also made changes to their positions in the company. EdgePoint Investment Group Inc. raised its holdings in shares of Algonquin Power & Utilities by 34.4% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 56,764,441 shares of the utilities provider’s stock valued at $324,934,000 after purchasing an additional 14,540,847 shares in the last quarter. Norges Bank acquired a new position in Algonquin Power & Utilities during the second quarter valued at approximately $51,370,000. Ariel Investments LLC raised its position in shares of Algonquin Power & Utilities by 88.6% in the second quarter. Ariel Investments LLC now owns 13,112,831 shares of the utilities provider’s stock valued at $75,137,000 after purchasing an additional 6,160,490 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Algonquin Power & Utilities by 65.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock worth $62,738,000 after buying an additional 4,808,539 shares during the period. Finally, Packer & Co Ltd acquired a new position in Algonquin Power & Utilities in the 3rd quarter valued at $24,235,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities Stock Performance

Shares of NYSE AQN opened at $6.50 on Tuesday. Algonquin Power & Utilities Corp. has a one year low of $4.26 and a one year high of $6.62. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. The business has a fifty day simple moving average of $6.12 and a 200 day simple moving average of $5.89. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of -162.33 and a beta of 0.75.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results on Friday, November 7th. The utilities provider reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $600.80 million during 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 period in the previous year, the firm posted $0.08 earnings per share. Sell-side analysts expect that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current year.

Algonquin Power & Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.065 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.26 dividend on an annualized basis and a yield of 4.0%. Algonquin Power & Utilities’s dividend payout ratio is presently -650.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Natl Bk Canada upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Desjardins increased their target price on Algonquin Power & Utilities from $6.25 to $6.75 and gave the company a “buy” rating in a research note on Thursday, October 9th. National Bank Financial raised Algonquin Power & Utilities from a “sector perform” rating to an “outperform” rating and set a $7.50 price target on the stock in a research report on Wednesday, January 7th. Janney Montgomery Scott set a $7.00 price target on Algonquin Power & Utilities in a report on Monday, November 10th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Algonquin Power & Utilities in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Algonquin Power & Utilities presently has an average rating of “Moderate Buy” and an average price target of $6.70.

Algonquin Power & Utilities Company 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.