Maven Securities LTD Makes New Investment in Algonquin Power & Utilities Corp. $AQN

Maven Securities LTD bought a new stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) in the fourth quarter, Holdings Channel reports. The firm bought 120,890 shares of the utilities provider’s stock, valued at approximately $743,000.

A number of other institutional investors also recently modified their holdings of the stock. K2 Principal Fund L.P. acquired a new stake in shares of Algonquin Power & Utilities during the 4th quarter valued at $1,230,000. Callodine Capital Management LP boosted its stake in shares of Algonquin Power & Utilities by 3.0% during the 4th quarter. Callodine Capital Management LP now owns 5,749,636 shares of the utilities provider’s stock valued at $35,360,000 after buying an additional 167,795 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in shares of Algonquin Power & Utilities during the 4th quarter valued at $83,000. Bank of Nova Scotia boosted its stake in shares of Algonquin Power & Utilities by 1.0% during the 4th quarter. Bank of Nova Scotia now owns 10,276,178 shares of the utilities provider’s stock valued at $63,187,000 after buying an additional 106,232 shares during the period. Finally, Focused Alpha LLC acquired a new stake in shares of Algonquin Power & Utilities during the 4th quarter valued at $214,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AQN shares. Raymond James Financial raised shares of Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $6.50 to $7.25 in a research note on Monday, March 9th. Barclays initiated coverage on shares of Algonquin Power & Utilities in a research report on Wednesday, April 1st. They set an “overweight” rating and a $7.00 price objective for the company. 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 initiated coverage on shares of Algonquin Power & Utilities in a research report on Tuesday, May 12th. They set an “equal weight” rating and a $7.00 price objective for the company. Finally, Weiss Ratings raised shares of Algonquin Power & Utilities from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, April 21st. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.83.

Algonquin Power & Utilities Stock Up 0.9%

Shares of AQN opened at $6.00 on Tuesday. The company has a 50-day simple moving average of $6.09 and a 200-day simple moving average of $6.26. The firm has a market capitalization of $4.61 billion, a P/E ratio of 27.25 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.87 and a current ratio of 1.05. Algonquin Power & Utilities Corp. has a 52 week low of $5.32 and a 52 week high of $7.11.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $713.69 million during the quarter, compared to analyst estimates of $713.69 million. Algonquin Power & Utilities had a net margin of 6.62% and a return on equity of 5.21%. During the same quarter in the prior year, the business earned $0.14 earnings per share. On average, equities research analysts expect that Algonquin Power & Utilities Corp. will post 0.36 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a yield of 4.3%. Algonquin Power & Utilities’s payout ratio is presently 118.18%.

About Algonquin Power & Utilities

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.