Jupiter Asset Management Ltd. Has $5.66 Million Position in Algonquin Power & Utilities Corp. $AQN

Jupiter Asset Management Ltd. raised its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 4,665.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 918,774 shares of the utilities provider’s stock after acquiring an additional 899,493 shares during the period. Jupiter Asset Management Ltd.’s holdings in Algonquin Power & Utilities were worth $5,657,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. raised its stake in Algonquin Power & Utilities by 8.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 61,652,676 shares of the utilities provider’s stock valued at $331,292,000 after purchasing an additional 4,888,235 shares during the period. Vanguard Group Inc. grew its holdings in shares of Algonquin Power & Utilities by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 34,456,155 shares of the utilities provider’s stock valued at $211,871,000 after acquiring an additional 711,569 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Algonquin Power & Utilities by 12.5% during the 3rd quarter. Bank of Montreal Can now owns 16,830,890 shares of the utilities provider’s stock valued at $90,441,000 after acquiring an additional 1,863,459 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Algonquin Power & Utilities by 65.0% during 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 in the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of Algonquin Power & Utilities during the 4th quarter valued at $74,263,000. 62.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Raymond James Financial upgraded shares of Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $6.50 to $7.25 in a report on Monday, March 9th. Wall Street Zen cut shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Canadian Imperial Bank of Commerce boosted 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. Barclays assumed coverage on shares of Algonquin Power & Utilities in a report on Wednesday, April 1st. They set an “overweight” rating and a $7.00 price target on the stock. Finally, TD Cowen lowered their price target on shares of Algonquin Power & Utilities from $6.50 to $6.00 and set a “hold” rating on the stock in a report on Monday, March 9th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.77.

Algonquin Power & Utilities Trading Down 0.6%

Shares of NYSE:AQN opened at $5.90 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.87 and a debt-to-equity ratio of 1.26. Algonquin Power & Utilities Corp. has a 1 year low of $5.32 and a 1 year high of $7.11. The firm has a fifty day moving average price of $6.16 and a 200 day moving average price of $6.27. The stock has a market capitalization of $4.54 billion, a PE ratio of 26.80 and a beta of 0.74.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $713.69 million during the quarter, compared to analysts’ expectations of $713.69 million. During the same period in the prior year, the company earned $0.14 earnings per share. Analysts expect that Algonquin Power & Utilities Corp. will post 0.36 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.4%. Algonquin Power & Utilities’s dividend payout ratio is currently 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.