Algonquin Power & Utilities (NYSE:AQN) Sets New 1-Year High – Here’s What Happened

Algonquin Power & Utilities Corp. (NYSE:AQN)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $6.65 and last traded at $6.6350, with a volume of 4985161 shares traded. The stock had previously closed at $6.44.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AQN. Natl Bk Canada upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Wall Street Zen upgraded Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. National Bankshares set a $7.50 price target on shares of Algonquin Power & Utilities in a report on Wednesday, January 7th. Zacks Research upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Friday. Finally, Raymond James Financial upped their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “market perform” rating in a research report on Friday, October 24th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Algonquin Power & Utilities presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.70.

Algonquin Power & Utilities Price Performance

The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.26. The business has a 50-day moving average price of $6.15 and a two-hundred day moving average price of $5.92. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of -165.83 and a beta of 0.75.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. Algonquin Power & Utilities had a positive return on equity of 5.14% and a negative net margin of 1.11%.The firm had revenue of $600.80 million during the quarter, compared to the consensus estimate of $596.67 million. During the same period in the prior year, the business posted $0.08 earnings per share. As a group, research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Wednesday, December 31st. Algonquin Power & Utilities’s payout ratio is currently -650.00%.

Institutional Investors Weigh In On Algonquin Power & Utilities

Several hedge funds and other institutional investors have recently modified their holdings of AQN. 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 purchasing an additional 4,808,539 shares during the last quarter. Ballentine Partners LLC grew its position in shares of Algonquin Power & Utilities by 10.6% in the 2nd quarter. Ballentine Partners LLC now owns 23,484 shares of the utilities provider’s stock worth $135,000 after buying an additional 2,242 shares during the last quarter. Hennessy Advisors Inc. increased its position in Algonquin Power & Utilities by 46.1% during the 2nd quarter. Hennessy Advisors Inc. now owns 166,064 shares of the utilities provider’s stock valued at $952,000 after purchasing an additional 52,400 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Algonquin Power & Utilities by 11.8% during 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. Finally, TD Asset Management Inc grew its holdings in shares of Algonquin Power & Utilities by 4.7% during the 2nd quarter. TD Asset Management Inc now owns 2,377,966 shares of the utilities provider’s stock worth $13,576,000 after acquiring an additional 106,708 shares during the period. 62.28% of the stock is currently owned by institutional investors.

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.