510,797 Algonquin Power & Utilities Corp. $AQN Shares Purchased by Private Management Group Inc.

Key Points

• Private Management Group increased its Algonquin Power & Utilities stake by 8.1% in the third quarter, adding 510,797 shares to bring its holding to 6.79 million shares, worth about $34.1 million.
• Institutional investors own 62.28% of the company’s shares. Algonquin reported quarterly EPS of $0.11, beating the $0.10 consensus, though revenue of $642.5 million fell short of expectations.
• The company declared a quarterly dividend of $0.065 per share, equivalent to a 4.6% annualized yield; analysts’ consensus rating is “Hold,” with a $6.43 average price target.

Private Management Group Inc. boosted its position in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 8.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,786,610 shares of the utilities provider's stock after buying an additional 510,797 shares during the period. Private Management Group Inc. owned approximately 0.88% of Algonquin Power & Utilities worth $34,137,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of Algonquin Power & Utilities by 13.0% in the 1st quarter. Principal Financial Group Inc. now owns 13,633,904 shares of the utilities provider's stock worth $83,497,000 after acquiring an additional 1,563,924 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Algonquin Power & Utilities by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 7,716,896 shares of the utilities provider's stock valued at $47,382,000 after acquiring an additional 144,500 shares in the last quarter. Bank of Nova Scotia acquired a new position in shares of Algonquin Power & Utilities during the second quarter worth about $46,703,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Algonquin Power & Utilities by 85.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,321,263 shares of the utilities provider's stock worth $44,861,000 after acquiring an additional 3,376,321 shares during the period. Finally, Legal & General Group Plc acquired a new position in shares of Algonquin Power & Utilities during the second quarter worth about $37,553,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Price Performance

Shares of NYSE AQN opened at $5.66 on Tuesday. The firm has a market capitalization of $4.35 billion, a P/E ratio of 17.62 and a beta of 0.73. Algonquin Power & Utilities Corp. has a one year low of $4.91 and a one year high of $7.11. The company's fifty day moving average is $5.32 and its two-hundred day moving average is $5.93. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.69 and a current ratio of 0.88.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its quarterly earnings results on Friday, November 6th. The utilities provider reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The business had revenue of $642.50 million for the quarter, compared to analysts' expectations of $647.20 million. Algonquin Power & Utilities had a net margin of 5.77% and a return on equity of 5.16%. Algonquin Power & Utilities has set its FY 2027 guidance at 0.380-0.420 EPS and its FY 2026 guidance at 0.350-0.370 EPS. Analysts forecast that Algonquin Power & Utilities Corp. will post 0.35 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be issued a dividend of $0.0650 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $0.26 dividend on an annualized basis and a yield of 4.6%. Algonquin Power & Utilities's payout ratio is currently 123.81%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Weiss Ratings downgraded shares of Algonquin Power & Utilities from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, October 8th. National Bank Financial lowered their price objective on Algonquin Power & Utilities from $7.00 to $6.50 and set an "outperform" rating on the stock in a report on Monday. Huntington began coverage on Algonquin Power & Utilities in a research report on Monday, September 14th. They set an "outperform" rating and a $7.00 target price on the stock. Canadian Imperial Bank of Commerce cut their target price on Algonquin Power & Utilities from $6.00 to $5.75 and set a "neutral" rating for the company in a research note on Wednesday, October 28th. Finally, TD set a $6.00 price target on Algonquin Power & Utilities and gave the company a "hold" rating in a report on Monday, August 31st. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Algonquin Power & Utilities presently has an average rating of "Hold" and a consensus target price of $6.43.

Algonquin Power & Utilities Profile

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