Algonquin Power & Utilities Corp. $AQN Holdings Boosted by Quantbot Technologies LP

Quantbot Technologies LP grew its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 77.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 398,318 shares of the utilities provider’s stock after purchasing an additional 174,118 shares during the quarter. Quantbot Technologies LP owned approximately 0.05% of Algonquin Power & Utilities worth $2,139,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in 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 worth $62,738,000 after buying an additional 4,808,539 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Algonquin Power & Utilities during the second quarter valued at $85,000. Savvy Advisors Inc. acquired a new position in shares of Algonquin Power & Utilities during the second quarter valued at $108,000. Moors & Cabot Inc. bought a new position in shares of Algonquin Power & Utilities during the second quarter worth about $99,000. Finally, Kayne Anderson Capital Advisors LP acquired a new stake in shares of Algonquin Power & Utilities in the 2nd quarter worth about $4,607,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Desjardins boosted their target price on shares of Algonquin Power & Utilities from $7.00 to $7.25 and gave the company a “buy” rating in a research note on Thursday, February 5th. Weiss Ratings upgraded Algonquin Power & Utilities from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, February 17th. Zacks Research raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. National Bank Financial set a $7.50 target price on Algonquin Power & Utilities in a research note on Wednesday, January 7th. Finally, Janney Montgomery Scott set a $7.00 price target on Algonquin Power & Utilities in a research report on Monday, November 10th. 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 stock. Based on data from MarketBeat.com, Algonquin Power & Utilities presently has a consensus rating of “Moderate Buy” and an average target price of $6.67.

Algonquin Power & Utilities Price Performance

Shares of NYSE:AQN opened at $6.95 on Wednesday. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of -173.71 and a beta of 0.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.23 and a quick ratio of 0.98. Algonquin Power & Utilities Corp. has a 12 month low of $4.29 and a 12 month high of $7.11. The stock’s 50 day moving average price is $6.51 and its 200 day moving average price is $6.06.

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.