Algonquin Power & Utilities Corp. $AQN Stock Position Increased by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lifted its position in Algonquin Power & Utilities Corp. (NYSE:AQN) by 8.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,286,322 shares of the utilities provider’s stock after buying an additional 256,437 shares during the period. Gamco Investors INC. ET AL’s holdings in Algonquin Power & Utilities were worth $20,211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP bought a new stake in shares of Algonquin Power & Utilities in the 3rd quarter worth $29,000. Fiera Capital Corp bought a new stake in shares of Algonquin Power & Utilities in the 3rd quarter worth $55,000. Vise Technologies Inc. bought a new stake in shares of Algonquin Power & Utilities in the 3rd quarter worth $56,000. R Squared Ltd bought a new stake in shares of Algonquin Power & Utilities in the 4th quarter worth $68,000. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Algonquin Power & Utilities in the 2nd quarter worth $85,000. Institutional investors own 62.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AQN shares. Weiss Ratings raised Algonquin Power & Utilities from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, April 21st. National Bank Financial dropped their price objective on Algonquin Power & Utilities from $7.50 to $7.25 and set an “outperform” rating on the stock in a research note on Monday, March 9th. Raymond James Financial raised Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $6.50 to $7.25 in a research note on Monday, March 9th. Desjardins cut their target price on Algonquin Power & Utilities from $7.25 to $7.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. Finally, TD Cowen cut their target price on Algonquin Power & Utilities from $6.50 to $6.00 and set a “hold” rating on the stock in a research report on Monday, March 9th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.77.

Algonquin Power & Utilities Stock Up 0.3%

Shares of Algonquin Power & Utilities stock opened at $5.77 on Tuesday. The stock’s fifty day moving average is $6.23 and its 200-day moving average is $6.26. The firm has a market capitalization of $4.44 billion, a PE ratio of 26.21 and a beta of 0.74. The company has a quick ratio of 0.87, a current ratio of 1.05 and a debt-to-equity ratio of 1.26. Algonquin Power & Utilities Corp. has a 12-month low of $5.32 and a 12-month high of $7.11.

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

Algonquin Power & Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.5%. Algonquin Power & Utilities’s payout ratio is 118.18%.

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.