Arrowstreet Capital Limited Partnership Has $44.86 Million Stake in Algonquin Power & Utilities Corp. $AQN

Arrowstreet Capital Limited Partnership raised its stake in Algonquin Power & Utilities Corp. (NYSE:AQN) by 85.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,321,263 shares of the utilities provider’s stock after acquiring an additional 3,376,321 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.95% of Algonquin Power & Utilities worth $44,861,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. EdgePoint Investment Group Inc. lifted its stake in Algonquin Power & Utilities by 32.6% in 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 purchasing an additional 20,074,709 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Algonquin Power & Utilities during the fourth quarter worth $74,263,000. Norges Bank bought a new position in shares of Algonquin Power & Utilities in the 4th quarter valued at $67,065,000. Goldman Sachs Group Inc. lifted its stake in shares of Algonquin Power & Utilities by 65.0% in 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. Finally, Citadel Advisors LLC boosted its holdings in shares of Algonquin Power & Utilities by 14,166.9% during the 3rd quarter. Citadel Advisors LLC now owns 4,445,126 shares of the utilities provider’s stock valued at $23,870,000 after acquiring an additional 4,476,726 shares in the last quarter. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Algonquin Power & Utilities Stock Performance

Shares of Algonquin Power & Utilities stock opened at $6.03 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 1.26. Algonquin Power & Utilities Corp. has a twelve month low of $5.32 and a twelve month high of $7.11. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 27.39 and a beta of 0.71. The company’s fifty day moving average is $5.86 and its 200 day moving average is $6.21.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $713.69 million during the quarter, compared to the consensus estimate of $713.69 million. Algonquin Power & Utilities had a return on equity of 5.21% and a net margin of 6.62%.During the same period in the prior year, the business posted $0.14 earnings per share. Sell-side analysts forecast that Algonquin Power & Utilities Corp. will post 0.36 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Tuesday, June 30th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is 118.18%.

Algonquin Power & Utilities 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.