Tacita Capital Inc bought a new position in Algonquin Power & Utilities Corp. (NYSE:AQN – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 210,803 shares of the utilities provider’s stock, valued at approximately $1,237,000.
Other hedge funds also recently made changes to their positions in the company. EdgePoint Investment Group Inc. grew its holdings in Algonquin Power & Utilities by 32.6% during the 4th quarter. EdgePoint Investment Group Inc. now owns 81,727,385 shares of the utilities provider’s stock valued at $502,563,000 after buying an additional 20,074,709 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Algonquin Power & Utilities by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 34,456,155 shares of the utilities provider’s stock worth $211,871,000 after acquiring an additional 711,569 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Algonquin Power & Utilities by 23.1% during the 4th quarter. Bank of Montreal Can now owns 20,717,144 shares of the utilities provider’s stock worth $127,395,000 after acquiring an additional 3,886,254 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Algonquin Power & Utilities by 13.0% during the 1st quarter. Principal Financial Group Inc. now owns 13,633,904 shares of the utilities provider’s stock valued at $83,497,000 after acquiring an additional 1,563,924 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position 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 valued at $62,738,000 after acquiring an additional 4,808,539 shares during the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.
Algonquin Power & Utilities Price Performance
Algonquin Power & Utilities stock opened at $5.83 on Thursday. Algonquin Power & Utilities Corp. has a 12-month low of $5.32 and a 12-month high of $7.11. The company has a current ratio of 0.88, a quick ratio of 0.69 and a debt-to-equity ratio of 1.28. The firm has a 50-day moving average price of $5.83 and a 200-day moving average price of $6.14. The firm has a market capitalization of $4.49 billion, a PE ratio of 30.71 and a beta of 0.70.
Algonquin Power & Utilities Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, September 29th. 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 136.84%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. Weiss Ratings cut shares of Algonquin Power & Utilities from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. National Bank Financial lowered their price objective on shares of Algonquin Power & Utilities from $7.25 to $7.00 and set an “outperform” rating for the company in a research report on Friday, July 3rd. Finally, Wells Fargo & Company initiated 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 for the company. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Algonquin Power & Utilities presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.81.
View Our Latest Stock Report on AQN
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.
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