Vanguard Group Inc. Buys 1,086,040 Shares of Algonquin Power & Utilities Corp. $AQN

Vanguard Group Inc. boosted its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 3.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,744,586 shares of the utilities provider’s stock after acquiring an additional 1,086,040 shares during the period. Vanguard Group Inc. owned approximately 4.39% of Algonquin Power & Utilities worth $181,377,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wedbush Securities Inc. acquired a new position in shares of Algonquin Power & Utilities in the second quarter valued at $58,000. Davis Rea LTD. acquired a new position in shares of Algonquin Power & Utilities in the 3rd quarter valued at $67,000. SG Americas Securities LLC boosted its position in shares of Algonquin Power & Utilities by 29.1% during the 3rd 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 in the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Algonquin Power & Utilities during the 2nd quarter valued at about $85,000. Finally, Moors & Cabot Inc. bought a new stake in Algonquin Power & Utilities in the second quarter valued at about $99,000. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Trading Down 0.4%

NYSE AQN opened at $6.95 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. Algonquin Power & Utilities Corp. has a 12 month low of $4.29 and a 12 month high of $7.11. The company has a market capitalization of $5.34 billion, a PE ratio of -173.71 and a beta of 0.75. The stock has a 50-day simple moving average of $6.50 and a 200 day simple moving average of $6.05.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Desjardins upped their target price on shares of Algonquin Power & Utilities from $7.00 to $7.25 and gave the stock a “buy” rating in a report on Thursday, February 5th. Zacks Research raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Scotiabank upgraded shares of Algonquin Power & Utilities from a “sector perform” rating to a “sector outperform” rating and set a $6.50 price objective for the company in a research report on Tuesday, December 16th. Janney Montgomery Scott set a $7.00 price objective on Algonquin Power & Utilities in a report on Monday, November 10th. Finally, Weiss Ratings raised Algonquin Power & Utilities from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 17th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.67.

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.