Vanguard Group Inc. Boosts Holdings in Algonquin Power & Utilities Corp. $AQN

Key Points

• Vanguard Group increased its stake in Algonquin Power & Utilities by 2.1% in the fourth quarter, bringing its total holding to 34.46 million shares worth about $211.9 million.
• Analyst sentiment remains mixed: the stock has a consensus Hold rating, with six Buy ratings and seven Hold ratings, and an average price target of $6.68.
• Algonquin Power & Utilities recently reported Q1 earnings of $0.13 per share, topping estimates by $0.02, while the stock was trading at $6.08 and offering a 4.3% dividend yield.

Vanguard Group Inc. increased its holdings in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,456,155 shares of the utilities provider's stock after purchasing an additional 711,569 shares during the period. Vanguard Group Inc. owned 4.48% of Algonquin Power & Utilities worth $211,871,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Algonquin Power & Utilities in the 3rd quarter worth approximately $29,000. Fiera Capital Corp purchased a new position in Algonquin Power & Utilities in the 3rd quarter worth approximately $55,000. Vise Technologies Inc. purchased a new position in Algonquin Power & Utilities in the 3rd quarter worth approximately $56,000. Davis Rea LTD. purchased a new position in Algonquin Power & Utilities in the 3rd quarter worth approximately $67,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Algonquin Power & Utilities in the 2nd quarter worth $85,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AQN has been the topic of several research analyst reports. Wall Street Zen cut shares of Algonquin Power & Utilities from a "buy" rating to a "hold" rating in a research note on Sunday, March 15th. Desjardins decreased their price target on shares of Algonquin Power & Utilities from $7.25 to $7.00 and set a "buy" rating on the stock in a research note on Monday, March 9th. Canadian Imperial Bank of Commerce boosted their price target on shares of Algonquin Power & Utilities from $6.25 to $6.50 and gave the stock a "neutral" rating in a research note on Monday, April 20th. Zacks Research cut shares of Algonquin Power & Utilities from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 9th. Finally, Raymond James Financial raised Algonquin Power & Utilities from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $6.50 to $7.25 in a report on Monday, March 9th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Algonquin Power & Utilities has an average rating of "Hold" and a consensus price target of $6.68.

Algonquin Power & Utilities Stock Down 3.2%

Shares of NYSE AQN opened at $6.08 on Friday. The firm's 50-day moving average price is $6.37 and its 200-day moving average price is $6.26. Algonquin Power & Utilities Corp. has a 12-month low of $5.32 and a 12-month high of $7.11. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 27.62 and a beta of 0.74. The company has a current ratio of 1.00, a quick ratio of 0.82 and a debt-to-equity ratio of 1.27.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. Algonquin Power & Utilities had a return on equity of 5.47% and a net margin of 7.32%.The company had revenue of $713.69 million for the quarter, compared to analyst estimates of $713.69 million. During the same quarter in the prior year, the firm posted $0.14 EPS. On average, equities research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.36 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 4.3%. The ex-dividend date was Tuesday, March 31st. Algonquin Power & Utilities's dividend payout ratio is presently 113.04%.

About Algonquin Power & Utilities

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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