EdgePoint Investment Group Inc. Has $499.08 Million Holdings in Algonquin Power & Utilities Corp. $AQN

EdgePoint Investment Group Inc. cut its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,472,394 shares of the utilities provider’s stock after selling 254,991 shares during the period. Algonquin Power & Utilities comprises about 4.0% of EdgePoint Investment Group Inc.’s investment portfolio, making the stock its 12th largest position. EdgePoint Investment Group Inc. owned about 10.59% of Algonquin Power & Utilities worth $499,085,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AQN. ARS Investment Partners LLC boosted its position in shares of Algonquin Power & Utilities by 29.6% during the 4th quarter. ARS Investment Partners LLC now owns 863,660 shares of the utilities provider’s stock valued at $5,312,000 after acquiring an additional 197,490 shares in the last quarter. Cidel Asset Management Inc. grew its stake in shares of Algonquin Power & Utilities by 42.1% in the 1st quarter. Cidel Asset Management Inc. now owns 3,535,918 shares of the utilities provider’s stock valued at $21,587,000 after purchasing an additional 1,048,080 shares during the period. Jupiter Asset Management Ltd. raised its holdings in shares of Algonquin Power & Utilities by 4,665.2% in the 4th quarter. Jupiter Asset Management Ltd. now owns 918,774 shares of the utilities provider’s stock worth $5,657,000 after buying an additional 899,493 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Algonquin Power & Utilities in the 4th quarter worth approximately $2,909,000. Finally, Principal Financial Group Inc. bought a new position in shares of Algonquin Power & Utilities during the 4th quarter worth approximately $74,263,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AQN has been the topic of several recent analyst reports. National Bank Financial decreased 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 reissued a “hold (c)” rating on shares of Algonquin Power & Utilities in a report on Friday, July 17th. Barclays initiated coverage on shares of Algonquin Power & Utilities in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $7.00 target price on the stock. Wells Fargo & Company initiated coverage on shares of Algonquin Power & Utilities in a research report on Tuesday, May 12th. They set an “equal weight” rating and a $7.00 target price for the company. Finally, Canadian Imperial Bank of Commerce lifted their price target on shares of Algonquin Power & Utilities from $6.25 to $6.50 and gave the company a “neutral” rating in a report on Monday, April 20th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Algonquin Power & Utilities currently has a consensus rating of “Moderate Buy” and an average price target of $6.81.

Algonquin Power & Utilities Stock Performance

Shares of NYSE:AQN opened at $6.03 on Tuesday. Algonquin Power & Utilities Corp. has a twelve month low of $5.32 and a twelve month high of $7.11. The firm has a market cap of $4.64 billion, a PE ratio of 27.39 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.87 and a current ratio of 1.05. The business has a fifty day moving average of $5.86 and a 200-day moving average of $6.21.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $713.69 million. During the same quarter in the prior year, the company earned $0.14 EPS. On average, equities research analysts predict that Algonquin Power & Utilities Corp. will post 0.36 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

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

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.