Mufg Securities Canada LTD. Has $6.22 Million Stock Position in Algonquin Power & Utilities Corp. $AQN

Mufg Securities Canada LTD. lessened its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 11.1% in the third quarter, HoldingsChannel.com reports. The firm owned 1,156,483 shares of the utilities provider’s stock after selling 145,061 shares during the quarter. Mufg Securities Canada LTD.’s holdings in Algonquin Power & Utilities were worth $6,215,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Northwest & Ethical Investments L.P. increased its position in shares of Algonquin Power & Utilities by 1,331.3% during the second quarter. Northwest & Ethical Investments L.P. now owns 888,264 shares of the utilities provider’s stock worth $5,090,000 after buying an additional 826,203 shares during the period. Cidel Asset Management Inc. lifted its holdings in Algonquin Power & Utilities by 2.4% in the third quarter. Cidel Asset Management Inc. now owns 3,253,612 shares of the utilities provider’s stock valued at $17,491,000 after buying an additional 75,266 shares during the period. Callodine Capital Management LP boosted its position in Algonquin Power & Utilities by 39.3% during the second quarter. Callodine Capital Management LP now owns 4,840,969 shares of the utilities provider’s stock valued at $27,739,000 after acquiring an additional 1,365,969 shares during the last quarter. Bank of Nova Scotia boosted its position in Algonquin Power & Utilities by 4.6% during the second 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, Gabelli Funds LLC raised its position in shares of Algonquin Power & Utilities by 53.4% in the 2nd quarter. Gabelli Funds LLC now owns 2,156,643 shares of the utilities provider’s stock worth $12,358,000 after acquiring an additional 751,143 shares in the last quarter. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Stock Performance

Shares of AQN stock opened at $6.99 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. The firm has a fifty day simple moving average of $6.48 and a two-hundred day simple moving average of $6.04. Algonquin Power & Utilities Corp. has a 12 month low of $4.29 and a 12 month high of $7.11. The firm has a market capitalization of $5.37 billion, a PE ratio of -174.81 and a beta of 0.76.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AQN shares. Weiss Ratings raised Algonquin Power & Utilities from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 17th. Desjardins increased their price target on Algonquin Power & Utilities from $7.00 to $7.25 and gave the stock a “buy” rating in a report on Thursday, February 5th. Scotiabank raised shares of Algonquin Power & Utilities from a “sector perform” rating to a “sector outperform” rating and set a $6.50 price objective for the company in a research report on Tuesday, December 16th. Janney Montgomery Scott set a $7.00 price objective on shares of Algonquin Power & Utilities in a research note on Monday, November 10th. Finally, Zacks Research upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Algonquin Power & Utilities presently has a consensus rating of “Moderate Buy” and an average target price of $6.67.

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.