200,000 Shares in Algonquin Power & Utilities Corp. $AQN Bought by K2 Principal Fund L.P.

K2 Principal Fund L.P. bought a new position in Algonquin Power & Utilities Corp. (NYSE:AQN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 200,000 shares of the utilities provider’s stock, valued at approximately $1,230,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. EdgePoint Investment Group Inc. boosted its position in shares of Algonquin Power & Utilities by 8.6% in the third quarter. EdgePoint Investment Group Inc. now owns 61,652,676 shares of the utilities provider’s stock worth $331,292,000 after buying an additional 4,888,235 shares during the period. Vanguard Group Inc. boosted its position in shares of Algonquin Power & Utilities by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 34,456,155 shares of the utilities provider’s stock worth $211,871,000 after buying an additional 711,569 shares during the period. Bank of Montreal Can boosted its position in shares of Algonquin Power & Utilities by 23.1% in the fourth quarter. Bank of Montreal Can now owns 20,717,144 shares of the utilities provider’s stock worth $127,395,000 after buying an additional 3,886,254 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Algonquin Power & Utilities by 65.0% in the first quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock worth $62,738,000 after buying an additional 4,808,539 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in shares of Algonquin Power & Utilities in the fourth quarter worth $74,263,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

Algonquin Power & Utilities Price Performance

NYSE AQN opened at $5.94 on Friday. Algonquin Power & Utilities Corp. has a fifty-two week low of $5.32 and a fifty-two week high of $7.11. The stock’s 50-day moving average is $6.09 and its two-hundred day moving average is $6.26. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.05 and a quick ratio of 0.87. The firm has a market cap of $4.57 billion, a P/E ratio of 26.98 and a beta of 0.71.

Algonquin Power & Utilities (NYSE:AQN) last posted its earnings results on Friday, May 8th. The utilities provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. Algonquin Power & Utilities had a return on equity of 5.21% and a net margin of 6.62%.The company had revenue of $713.69 million for the quarter, compared to analyst estimates of $713.69 million. During the same period last year, the company earned $0.14 earnings per share. On average, analysts anticipate that Algonquin Power & Utilities Corp. will post 0.36 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.065 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.4%. Algonquin Power & Utilities’s payout ratio is presently 118.18%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Barclays assumed coverage on Algonquin Power & Utilities in a research report on Wednesday, April 1st. They issued an “overweight” rating and a $7.00 target price for the company. Zacks Research cut Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Raymond James Financial raised 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 report on Monday, March 9th. Desjardins reduced their price objective on Algonquin Power & Utilities from $7.25 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 9th. Finally, Weiss Ratings raised 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 stock. According to MarketBeat.com, Algonquin Power & Utilities presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.83.

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.