Maven Securities LTD Acquires New Stake in Algonquin Power & Utilities Corp. $AQN

Maven Securities LTD acquired a new stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 120,890 shares of the utilities provider’s stock, valued at approximately $743,000.

A number of other hedge funds have also made changes to their positions in the stock. Public Sector Pension Investment Board increased its stake in shares of Algonquin Power & Utilities by 2.5% during the second quarter. Public Sector Pension Investment Board now owns 74,271 shares of the utilities provider’s stock valued at $424,000 after acquiring an additional 1,800 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Algonquin Power & Utilities by 1.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 133,733 shares of the utilities provider’s stock valued at $823,000 after acquiring an additional 1,966 shares during the period. LPL Financial LLC increased its stake in shares of Algonquin Power & Utilities by 5.7% during the fourth quarter. LPL Financial LLC now owns 37,364 shares of the utilities provider’s stock valued at $230,000 after acquiring an additional 2,026 shares during the period. Triasima Portfolio Management inc. increased its stake in shares of Algonquin Power & Utilities by 1.4% during the fourth quarter. Triasima Portfolio Management inc. now owns 201,732 shares of the utilities provider’s stock valued at $1,242,000 after acquiring an additional 2,767 shares during the period. Finally, Group One Trading LLC increased its stake in shares of Algonquin Power & Utilities by 63.3% during the fourth quarter. Group One Trading LLC now owns 7,479 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 2,900 shares during the period. Institutional investors and hedge funds own 62.28% of the company’s stock.

Algonquin Power & Utilities Trading Up 0.9%

NYSE AQN opened at $6.00 on Tuesday. Algonquin Power & Utilities Corp. has a twelve month low of $5.32 and a twelve month high of $7.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.87 and a current ratio of 1.05. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 27.25 and a beta of 0.71. The firm’s 50 day moving average price is $6.09 and its two-hundred day moving average price is $6.26.

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

Algonquin Power & Utilities Dividend Announcement

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

Analyst Ratings Changes

Several research firms have issued reports on AQN. National Bank Financial decreased their price target on shares of Algonquin Power & Utilities from $7.50 to $7.25 and set an “outperform” rating on the stock in a research report on Monday, March 9th. Wall Street Zen lowered shares of Algonquin Power & Utilities from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Zacks Research lowered shares of Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Wells Fargo & Company began coverage on shares of Algonquin Power & Utilities in a research report on Tuesday, May 12th. They issued an “equal weight” rating and a $7.00 price target on the stock. Finally, Canadian Imperial Bank of Commerce lifted 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 report on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.83.

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.