Alberta Investment Management Corp Decreases Holdings in Algonquin Power & Utilities Corp. $AQN

Alberta Investment Management Corp reduced its position in Algonquin Power & Utilities Corp. (NYSE:AQN) by 8.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,553,200 shares of the utilities provider’s stock after selling 246,800 shares during the quarter. Alberta Investment Management Corp’s holdings in Algonquin Power & Utilities were worth $13,711,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wedbush Securities Inc. purchased a new stake in shares of Algonquin Power & Utilities during the second quarter valued at $58,000. Davis Rea LTD. acquired a new stake in shares of Algonquin Power & Utilities during the 3rd quarter valued at about $67,000. Envestnet Asset Management Inc. acquired a new position in Algonquin Power & Utilities in the 2nd quarter worth about $85,000. SG Americas Securities LLC increased its position in shares of Algonquin Power & Utilities by 29.1% in the third quarter. SG Americas Securities LLC now owns 15,840 shares of the utilities provider’s stock valued at $85,000 after buying an additional 3,572 shares in the last quarter. Finally, Moors & Cabot Inc. acquired a new position in shares of Algonquin Power & Utilities during the 2nd quarter worth approximately $99,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Weiss Ratings raised Algonquin Power & Utilities from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. National Bank Financial set a $7.50 price objective on Algonquin Power & Utilities in a research report on Wednesday, January 7th. Wall Street Zen upgraded Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Janney Montgomery Scott set a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Monday, November 10th. Finally, Zacks Research upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.67.

Algonquin Power & Utilities Trading Down 0.7%

Shares of Algonquin Power & Utilities stock opened at $6.72 on Thursday. The company’s fifty day moving average is $6.38 and its two-hundred day moving average is $6.00. Algonquin Power & Utilities Corp. has a 1 year low of $4.29 and a 1 year high of $6.86. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.98 and a current ratio of 1.23. The company has a market capitalization of $5.16 billion, a P/E ratio of -167.83 and a beta of 0.76.

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.