Anson Funds Management LP Acquires New Stake in Algonquin Power & Utilities Corp. $AQN

Anson Funds Management LP acquired a new position in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 500,000 shares of the utilities provider's stock, valued at approximately $3,061,000. Anson Funds Management LP owned about 0.06% of Algonquin Power & Utilities at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Public Sector Pension Investment Board increased its position in shares of Algonquin Power & Utilities by 2.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 74,271 shares of the utilities provider's stock valued at $424,000 after purchasing an additional 1,800 shares during the last quarter. Assetmark Inc. lifted its position in Algonquin Power & Utilities by 9.4% in the 1st quarter. Assetmark Inc. now owns 22,141 shares of the utilities provider's stock worth $136,000 after buying an additional 1,895 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in Algonquin Power & Utilities by 1.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 133,733 shares of the utilities provider's stock worth $823,000 after buying an additional 1,966 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Algonquin Power & Utilities by 13.1% in the first quarter. Bank of New York Mellon Corp now owns 17,334 shares of the utilities provider's stock worth $106,000 after buying an additional 2,010 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in Algonquin Power & Utilities by 5.7% in the fourth quarter. LPL Financial LLC now owns 37,364 shares of the utilities provider's stock worth $230,000 after buying an additional 2,026 shares in the last quarter. 62.28% of the stock is owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Price Performance

AQN opened at $5.96 on Thursday. 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 Corp. has a 52-week low of $5.32 and a 52-week high of $7.11. The stock has a market capitalization of $4.59 billion, a PE ratio of 27.11 and a beta of 0.71. The stock's 50 day moving average price is $5.87 and its 200-day moving average price is $6.21.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. Algonquin Power & Utilities had a return on equity of 5.21% and a net margin of 6.62%.The company had revenue of $713.69 million during the quarter, compared to analyst estimates of $713.69 million. During the same quarter last year, the firm posted $0.14 earnings per share. On average, equities research analysts predict that Algonquin Power & Utilities Corp. will post 0.36 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AQN shares. Barclays began coverage on shares of Algonquin Power & Utilities in a research note on Wednesday, April 1st. They issued an "overweight" rating and a $7.00 price objective for the company. Weiss Ratings restated a "hold (c)" rating on shares of Algonquin Power & Utilities in a research report on Friday, July 17th. Wells Fargo & Company started coverage on Algonquin Power & Utilities in a research note on Tuesday, May 12th. They set an "equal weight" rating and a $7.00 price objective on the stock. National Bank Financial decreased their price objective on Algonquin Power & Utilities from $7.25 to $7.00 and set an "outperform" rating on the stock in a report on Friday, July 3rd. Finally, Canadian Imperial Bank of Commerce boosted their target price on Algonquin Power & Utilities from $6.25 to $6.50 and gave the company a "neutral" rating in a research note on Monday, April 20th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $6.81.

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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