Gamco Investors INC. ET AL Trims Stock Holdings in Algonquin Power & Utilities Corp. $AQN

Gamco Investors INC. ET AL lowered its stake in Algonquin Power & Utilities Corp. (NYSE:AQN) by 2.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 3,201,444 shares of the utilities provider’s stock after selling 84,878 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Algonquin Power & Utilities were worth $19,657,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Quarry LP acquired a new stake in shares of Algonquin Power & Utilities during the third quarter valued at about $29,000. Group One Trading LLC increased its holdings in Algonquin Power & Utilities by 63.3% in the 4th quarter. Group One Trading LLC now owns 7,479 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 2,900 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in Algonquin Power & Utilities in the fourth quarter valued at approximately $47,000. Vise Technologies Inc. purchased a new stake in Algonquin Power & Utilities in the third quarter valued at approximately $56,000. Finally, Tudor Investment Corp ET AL acquired a new position in Algonquin Power & Utilities during the fourth quarter worth $62,000. 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 stock’s 50-day moving average is $5.86 and its two-hundred day moving average is $6.21. 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 company has a market cap of $4.69 billion, a price-to-earnings ratio of 27.71 and a beta of 0.71. Algonquin Power & Utilities Corp. has a 1-year low of $5.32 and a 1-year 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, topping analysts’ consensus estimates 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 business had revenue of $713.69 million during the quarter, compared to the consensus estimate of $713.69 million. During the same period in the previous year, the company posted $0.14 earnings per share. Analysts forecast that Algonquin Power & Utilities Corp. will post 0.36 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays initiated coverage on Algonquin Power & Utilities in a research report on Wednesday, April 1st. They set an “overweight” rating and a $7.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Algonquin Power & Utilities in a report on Friday, July 17th. National Bank Financial dropped their target price on Algonquin Power & Utilities from $7.25 to $7.00 and set an “outperform” rating for the company in a research report on Friday, July 3rd. Canadian Imperial Bank of Commerce increased their price target on shares of Algonquin Power & Utilities from $6.25 to $6.50 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Finally, Wells Fargo & Company assumed coverage on shares of Algonquin Power & Utilities in a report on Tuesday, May 12th. They issued an “equal weight” rating and a $7.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.81.

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.