Packer & Co Ltd Purchases New Shares in Algonquin Power & Utilities Corp. $AQN

Packer & Co Ltd purchased a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,513,113 shares of the utilities provider’s stock, valued at approximately $24,235,000. Algonquin Power & Utilities accounts for 5.2% of Packer & Co Ltd’s investment portfolio, making the stock its 6th largest holding. Packer & Co Ltd owned 0.59% of Algonquin Power & Utilities as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. EdgePoint Investment Group Inc. raised its holdings in shares of Algonquin Power & Utilities by 34.4% in the second quarter. EdgePoint Investment Group Inc. now owns 56,764,441 shares of the utilities provider’s stock valued at $324,934,000 after buying an additional 14,540,847 shares during the last quarter. Ariel Investments LLC increased its position in Algonquin Power & Utilities by 88.6% in the 2nd quarter. Ariel Investments LLC now owns 13,112,831 shares of the utilities provider’s stock valued at $75,137,000 after acquiring an additional 6,160,490 shares during the period. Goldman Sachs Group Inc. raised 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 valued at $62,738,000 after acquiring an additional 4,808,539 shares during the last quarter. Bank of Nova Scotia raised its stake in Algonquin Power & Utilities by 4.6% during the 2nd quarter. Bank of Nova Scotia now owns 10,207,442 shares of the utilities provider’s stock valued at $58,375,000 after acquiring an additional 445,707 shares during the last quarter. Finally, Norges Bank acquired a new stake in Algonquin Power & Utilities during the 2nd quarter worth approximately $51,370,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AQN. Raymond James Financial boosted their target price on Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “market perform” rating in a report on Friday, October 24th. Desjardins lifted their price objective on shares of Algonquin Power & Utilities from $6.25 to $6.75 and gave the company a “buy” rating in a research report on Thursday, October 9th. Wall Street Zen upgraded shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. National Bankshares set a $7.50 target price on shares of Algonquin Power & Utilities in a research note on Wednesday, January 7th. Finally, Natl Bk Canada raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.70.

Algonquin Power & Utilities Price Performance

Algonquin Power & Utilities stock opened at $6.41 on Thursday. The company has a market cap of $4.92 billion, a P/E ratio of -160.08 and a beta of 0.75. Algonquin Power & Utilities Corp. has a one year low of $4.24 and a one year high of $6.62. The business has a fifty day moving average of $6.10 and a two-hundred day moving average of $5.88. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.98 and a current ratio of 1.23.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. Algonquin Power & Utilities had a negative net margin of 1.11% and a positive return on equity of 5.14%. The business had revenue of $600.80 million for the quarter, compared to analysts’ expectations of $596.67 million. During the same period in the prior year, the company posted $0.08 EPS. As a group, analysts predict that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given 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 dividend payout ratio (DPR) is presently -650.00%.

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.