Cidel Asset Management Inc. Has $17.49 Million Holdings in Algonquin Power & Utilities Corp. $AQN

Cidel Asset Management Inc. grew its position in Algonquin Power & Utilities Corp. (NYSE:AQN) by 2.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,253,612 shares of the utilities provider’s stock after acquiring an additional 75,266 shares during the period. Cidel Asset Management Inc. owned 0.42% of Algonquin Power & Utilities worth $17,491,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in 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 worth $62,738,000 after purchasing an additional 4,808,539 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Algonquin Power & Utilities by 11.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 76,803 shares of the utilities provider’s stock valued at $440,000 after buying an additional 8,103 shares during the period. TD Asset Management Inc raised its holdings in Algonquin Power & Utilities by 4.7% in the 2nd quarter. TD Asset Management Inc now owns 2,377,966 shares of the utilities provider’s stock valued at $13,576,000 after buying an additional 106,708 shares during the last quarter. John G Ullman & Associates Inc. boosted its position in Algonquin Power & Utilities by 30.2% during the 2nd quarter. John G Ullman & Associates Inc. now owns 56,100 shares of the utilities provider’s stock worth $321,000 after buying an additional 13,000 shares during the period. Finally, Envestnet Asset Management Inc. bought a new stake in Algonquin Power & Utilities during the 2nd quarter worth approximately $85,000. Institutional investors own 62.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Algonquin Power & Utilities in a research note on Monday, December 29th. Wall Street Zen raised Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. National Bank Financial set a $7.50 target price on Algonquin Power & Utilities in a report on Wednesday, January 7th. Scotiabank raised Algonquin Power & Utilities from a “sector perform” rating to a “sector outperform” rating and set a $6.50 price target for the company in a research note on Tuesday, December 16th. Finally, Janney Montgomery Scott set a $7.00 price objective on Algonquin Power & Utilities in a research report on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell 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 $6.67.

Algonquin Power & Utilities Trading Up 2.3%

Shares of AQN stock opened at $6.81 on Friday. Algonquin Power & Utilities Corp. has a fifty-two week low of $4.29 and a fifty-two week high of $6.84. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.98 and a current ratio of 1.23. The stock has a 50 day simple moving average of $6.32 and a two-hundred day simple moving average of $5.98. The company has a market cap of $5.23 billion, a P/E ratio of -170.08 and a beta of 0.76.

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.