Packer & Co Ltd Takes Position in Algonquin Power & Utilities Corp. $AQN

Packer & Co Ltd bought a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) in the third quarter, HoldingsChannel reports. The firm bought 4,513,113 shares of the utilities provider’s stock, valued at approximately $24,235,000. Algonquin Power & Utilities comprises about 5.2% of Packer & Co Ltd’s holdings, making the stock its 6th biggest holding.

Other large investors have also modified their holdings of the company. Public Sector Pension Investment Board raised its position in shares of Algonquin Power & Utilities by 2.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 74,271 shares of the utilities provider’s stock worth $424,000 after purchasing an additional 1,800 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of Algonquin Power & Utilities by 10.6% in the second quarter. Ballentine Partners LLC now owns 23,484 shares of the utilities provider’s stock valued at $135,000 after acquiring an additional 2,242 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Algonquin Power & Utilities by 29.1% during the third quarter. SG Americas Securities LLC now owns 15,840 shares of the utilities provider’s stock valued at $85,000 after acquiring an additional 3,572 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in Algonquin Power & Utilities by 0.5% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,269,433 shares of the utilities provider’s stock worth $7,296,000 after purchasing an additional 6,804 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Algonquin Power & Utilities by 11.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 76,803 shares of the utilities provider’s stock valued at $440,000 after purchasing an additional 8,103 shares in the last quarter. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities Trading Up 1.0%

Shares of AQN stock opened at $6.41 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.23 and a debt-to-equity ratio of 1.26. Algonquin Power & Utilities Corp. has a fifty-two week low of $4.24 and a fifty-two week high of $6.62. The firm’s 50 day moving average price is $6.10 and its two-hundred day moving average price is $5.88. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of -160.08 and a beta of 0.75.

Algonquin Power & Utilities (NYSE:AQN) last issued its earnings results on Friday, November 7th. The utilities provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $600.80 million for the quarter, compared to the consensus estimate of $596.67 million. Algonquin Power & Utilities had a negative net margin of 1.11% and a positive return on equity of 5.14%. During the same quarter last year, the firm posted $0.08 EPS. On average, analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current year.

Algonquin Power & Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Wednesday, December 31st. Algonquin Power & Utilities’s payout ratio is currently -650.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Janney Montgomery Scott set a $7.00 price objective on shares of Algonquin Power & Utilities in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Algonquin Power & Utilities in a research note on Monday, December 29th. National Bank Financial upgraded shares of Algonquin Power & Utilities from a “sector perform” rating to an “outperform” rating and set a $7.50 price objective on the stock in a report on Wednesday, January 7th. Natl Bk Canada raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Finally, Wall Street Zen upgraded shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Algonquin Power & Utilities has a consensus rating of “Moderate Buy” and a consensus target price of $6.70.

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.