Algonquin Power & Utilities Corp. $AQN Stock Holdings Lifted by TD Asset Management Inc

TD Asset Management Inc raised its stake in Algonquin Power & Utilities Corp. (NYSE:AQN) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,433,309 shares of the utilities provider’s stock after buying an additional 106,124 shares during the period. TD Asset Management Inc owned approximately 0.32% of Algonquin Power & Utilities worth $14,982,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. CIBC Asset Management Inc increased its holdings in shares of Algonquin Power & Utilities by 12.1% in the fourth quarter. CIBC Asset Management Inc now owns 753,293 shares of the utilities provider’s stock valued at $4,635,000 after buying an additional 81,535 shares in the last quarter. Norges Bank purchased a new position in Algonquin Power & Utilities during the 4th quarter worth approximately $67,065,000. Jupiter Asset Management Ltd. grew its position in Algonquin Power & Utilities by 4,665.2% during the 4th quarter. Jupiter Asset Management Ltd. now owns 918,774 shares of the utilities provider’s stock worth $5,657,000 after purchasing an additional 899,493 shares in the last quarter. Savant Capital LLC purchased a new position in Algonquin Power & Utilities during the 4th quarter worth approximately $114,000. Finally, Geode Capital Management LLC grew its position in Algonquin Power & Utilities by 8.5% during the 4th quarter. Geode Capital Management LLC now owns 1,919,900 shares of the utilities provider’s stock worth $11,807,000 after purchasing an additional 150,756 shares in the last quarter. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Trading Down 1.7%

Algonquin Power & Utilities stock opened at $5.91 on Tuesday. The company’s fifty day simple moving average is $6.11 and its 200-day simple moving average is $6.27. 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 12 month low of $5.32 and a 12 month high of $7.11. The stock has a market cap of $4.54 billion, a P/E ratio of 26.84 and a beta of 0.71.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. Algonquin Power & Utilities had a net margin of 6.62% and a return on equity of 5.21%. The business had revenue of $713.69 million for the quarter, compared to analysts’ expectations of $713.69 million. During the same period in the previous year, the company posted $0.14 EPS. As a group, sell-side analysts forecast 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 will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, June 30th. Algonquin Power & Utilities’s payout ratio is currently 118.18%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AQN. National Bank Financial lowered their price objective on shares of Algonquin Power & Utilities from $7.50 to $7.25 and set an “outperform” rating on the stock in a research report on Monday, March 9th. Raymond James Financial upgraded shares of Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $6.50 to $7.25 in a research report on Monday, March 9th. Weiss Ratings upgraded shares of Algonquin Power & Utilities from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, April 21st. TD Cowen lowered their price objective on shares of Algonquin Power & Utilities from $6.50 to $6.00 and set a “hold” rating on the stock in a research report on Monday, March 9th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on shares of Algonquin Power & Utilities from $6.25 to $6.50 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Algonquin Power & Utilities currently has an average rating of “Moderate Buy” and an average target price of $6.83.

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.