Algonquin Power & Utilities Corp. $AQN Shares Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio increased its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 9.1% in the 1st quarter, Holdings Channel reports. The firm owned 3,204,025 shares of the utilities provider’s stock after purchasing an additional 267,114 shares during the period. Public Employees Retirement System of Ohio’s holdings in Algonquin Power & Utilities were worth $19,659,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. EdgePoint Investment Group Inc. raised its stake in Algonquin Power & Utilities by 32.6% in the 4th quarter. EdgePoint Investment Group Inc. now owns 81,727,385 shares of the utilities provider’s stock valued at $502,563,000 after purchasing an additional 20,074,709 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Algonquin Power & Utilities during the 4th quarter worth $74,263,000. Norges Bank acquired a new stake in Algonquin Power & Utilities during the 4th quarter worth $67,065,000. Goldman Sachs Group Inc. grew its holdings in shares of 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 worth $62,738,000 after buying an additional 4,808,539 shares in the last quarter. Finally, Citadel Advisors LLC raised its position in shares of Algonquin Power & Utilities by 14,166.9% in the third quarter. Citadel Advisors LLC now owns 4,445,126 shares of the utilities provider’s stock valued at $23,870,000 after buying an additional 4,476,726 shares during the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Stock Up 1.8%

Shares of AQN opened at $6.09 on Friday. Algonquin Power & Utilities Corp. has a 52-week low of $5.32 and a 52-week high of $7.11. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 1.26. The stock has a fifty day simple moving average of $5.86 and a two-hundred day simple moving average of $6.21. The company has a market capitalization of $4.69 billion, a PE ratio of 27.71 and a beta of 0.71.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. The firm had revenue of $713.69 million for the quarter, compared to analysts’ expectations of $713.69 million. Algonquin Power & Utilities had a net margin of 6.62% and a return on equity of 5.21%. During the same quarter in the previous year, the company posted $0.14 EPS. As a group, equities analysts forecast that Algonquin Power & Utilities Corp. will post 0.36 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.065 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a yield of 4.3%. Algonquin Power & Utilities’s payout ratio is 118.18%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AQN. Canadian Imperial Bank of Commerce raised their price target on shares of Algonquin Power & Utilities from $6.25 to $6.50 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Algonquin Power & Utilities in a research note on Friday, July 17th. Wells Fargo & Company assumed coverage on shares of Algonquin Power & Utilities in a report on Tuesday, May 12th. They issued an “equal weight” rating and a $7.00 price objective for the company. Barclays initiated coverage on shares of Algonquin Power & Utilities in a report on Wednesday, April 1st. They issued an “overweight” rating and a $7.00 price objective for the company. Finally, National Bank Financial decreased their target price on shares of 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. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.81.

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.