Public Employees Retirement System of Ohio Increases Stake in Algonquin Power & Utilities Corp. $AQN

Public Employees Retirement System of Ohio raised its stake in Algonquin Power & Utilities Corp. (NYSE:AQN) by 9.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,204,025 shares of the utilities provider’s stock after acquiring an additional 267,114 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.42% of Algonquin Power & Utilities worth $19,659,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. EdgePoint Investment Group Inc. grew its stake in shares of Algonquin Power & Utilities by 32.6% during the 4th quarter. EdgePoint Investment Group Inc. now owns 81,727,385 shares of the utilities provider’s stock worth $502,563,000 after purchasing an additional 20,074,709 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Algonquin Power & Utilities in the 4th quarter valued at $74,263,000. Norges Bank acquired a new position in shares of Algonquin Power & Utilities in the 4th quarter valued at $67,065,000. Goldman Sachs Group Inc. lifted its stake in shares of Algonquin Power & Utilities by 65.0% in 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 purchasing an additional 4,808,539 shares during the period. Finally, Citadel Advisors LLC boosted its holdings in Algonquin Power & Utilities by 14,166.9% during the third quarter. Citadel Advisors LLC now owns 4,445,126 shares of the utilities provider’s stock worth $23,870,000 after buying an additional 4,476,726 shares in the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Price Performance

Shares of NYSE AQN opened at $6.09 on Friday. 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 firm has a fifty day moving average of $5.86 and a 200 day moving average of $6.21. The firm has a market cap of $4.69 billion, a PE ratio of 27.71 and a beta of 0.71. Algonquin Power & Utilities Corp. has a one year low of $5.32 and a one year high of $7.11.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. The business had revenue of $713.69 million for the quarter, compared to the consensus estimate 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 period last year, the firm posted $0.14 earnings per share. As a group, research analysts predict that Algonquin Power & Utilities Corp. will post 0.36 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.065 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a yield of 4.3%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently 118.18%.

Wall Street Analysts Forecast Growth

AQN has been the topic of several analyst reports. Barclays started 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 target on the stock. Canadian Imperial Bank of Commerce increased their target price on shares of Algonquin Power & Utilities from $6.25 to $6.50 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Wells Fargo & Company started coverage on Algonquin Power & Utilities in a research report on Tuesday, May 12th. They set an “equal weight” rating and a $7.00 target price on the stock. National Bank Financial cut their price target on Algonquin Power & Utilities from $7.25 to $7.00 and set an “outperform” rating for the company in a research note on Friday, July 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Algonquin Power & Utilities in a research note on Friday, July 17th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $6.81.

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.