Algonquin Power & Utilities Corp. $AQN Shares Acquired by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management dramatically increased its stake in Algonquin Power & Utilities, boosting holdings by 4,665.2% in the fourth quarter to 918,774 shares worth about $5.66 million.
• The company reported better-than-expected quarterly earnings of $0.13 per share, topping estimates by $0.02, while revenue matched consensus at $713.69 million.
• Algonquin Power & Utilities announced a quarterly dividend of $0.065 per share, implying a 4.4% annual yield, though its payout ratio remains high at 118.18%.

Jupiter Asset Management Ltd. lifted its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 4,665.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 918,774 shares of the utilities provider's stock after acquiring an additional 899,493 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.12% of Algonquin Power & Utilities worth $5,657,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Public Sector Pension Investment Board increased its stake in shares of Algonquin Power & Utilities by 2.5% during the second quarter. Public Sector Pension Investment Board now owns 74,271 shares of the utilities provider's stock valued at $424,000 after acquiring an additional 1,800 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Algonquin Power & Utilities by 1.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 133,733 shares of the utilities provider's stock valued at $823,000 after acquiring an additional 1,966 shares during the period. Triasima Portfolio Management inc. grew its position in Algonquin Power & Utilities by 1.4% in the fourth quarter. Triasima Portfolio Management inc. now owns 201,732 shares of the utilities provider's stock worth $1,242,000 after buying an additional 2,767 shares during the last quarter. SG Americas Securities LLC increased 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 in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Algonquin Power & Utilities by 6.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 81,643 shares of the utilities provider's stock valued at $438,000 after buying an additional 4,840 shares in the last quarter. Institutional investors and hedge funds own 62.28% of the company's stock.

Algonquin Power & Utilities Price Performance

NYSE AQN opened at $5.90 on Friday. The stock has a market capitalization of $4.54 billion, a P/E ratio of 26.80 and a beta of 0.74. Algonquin Power & Utilities Corp. has a 1 year low of $5.32 and a 1 year high of $7.11. The business's fifty day moving average is $6.16 and its two-hundred day moving average is $6.27. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.87 and a current ratio of 1.05.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its earnings results on Friday, May 8th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. Algonquin Power & Utilities had a net margin of 6.62% and a return on equity of 5.21%. The company had revenue of $713.69 million for the quarter, compared to the consensus estimate of $713.69 million. During the same period in the previous year, the business earned $0.14 EPS. On average, research analysts forecast that Algonquin Power & Utilities Corp. will post 0.36 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Algonquin Power & Utilities's payout ratio is 118.18%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. National Bank Financial dropped their price target on Algonquin Power & Utilities from $7.50 to $7.25 and set an "outperform" rating on the stock in a report on Monday, March 9th. Desjardins dropped their price target on Algonquin Power & Utilities from $7.25 to $7.00 and set a "buy" rating on the stock in a report on Monday, March 9th. Raymond James Financial raised Algonquin Power & Utilities from a "market perform" rating to an "outperform" rating and upped their price target for the company from $6.50 to $7.25 in a report on Monday, March 9th. Canadian Imperial Bank of Commerce upped their price target on Algonquin Power & Utilities from $6.25 to $6.50 and gave the company a "neutral" rating in a report on Monday, April 20th. Finally, Weiss Ratings raised Algonquin Power & Utilities from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, April 21st. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $6.77.

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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