111 Capital Invests $610,000 in Algonquin Power & Utilities Corp. $AQN

111 Capital purchased a new stake in Algonquin Power & Utilities Corp. (NYSE:AQN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 113,536 shares of the utilities provider’s stock, valued at approximately $610,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its position in Algonquin Power & Utilities by 65.0% during the first quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock valued at $62,738,000 after purchasing an additional 4,808,539 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Algonquin Power & Utilities during the second quarter valued at approximately $85,000. Savvy Advisors Inc. bought a new position in Algonquin Power & Utilities in the 2nd quarter worth $108,000. Moors & Cabot Inc. bought a new stake in Algonquin Power & Utilities during the second quarter worth about $99,000. Finally, Kayne Anderson Capital Advisors LP bought a new stake in shares of Algonquin Power & Utilities in the 2nd quarter worth approximately $4,607,000. 62.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AQN shares. Weiss Ratings raised Algonquin Power & Utilities from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 17th. Desjardins increased their target price on shares of Algonquin Power & Utilities from $7.00 to $7.25 and gave the stock a “buy” rating in a report on Thursday, February 5th. National Bank Financial set a $7.50 price objective on Algonquin Power & Utilities in a research report on Wednesday, January 7th. Janney Montgomery Scott set a $7.00 price objective on shares of Algonquin Power & Utilities in a report on Monday, November 10th. Finally, Zacks Research raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Algonquin Power & Utilities has an average rating of “Moderate Buy” and a consensus target price of $6.67.

Algonquin Power & Utilities Trading Down 0.4%

Algonquin Power & Utilities stock opened at $6.95 on Tuesday. The stock has a 50-day moving average of $6.50 and a two-hundred day moving average of $6.05. The stock has a market cap of $5.34 billion, a PE ratio of -173.71 and a beta of 0.75. Algonquin Power & Utilities Corp. has a one year low of $4.29 and a one year high of $7.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.98 and a current ratio of 1.23.

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.