Stock Traders Buy Large Volume of Algonquin Power & Utilities Call Options (NYSE:AQN)

Algonquin Power & Utilities Corp. (NYSE:AQN) was the target of some unusual options trading activity on Friday. Stock investors bought 6,111 call options on the stock. This is an increase of approximately 5,833% compared to the average daily volume of 103 call options.

Analyst Ratings Changes

AQN has been the subject of several research analyst reports. Scotiabank upgraded shares of Algonquin Power & Utilities from a “sector perform” rating to a “sector outperform” rating and set a $6.50 price target for the company in a report on Tuesday, December 16th. National Bank Financial raised Algonquin Power & Utilities from a “sector perform” rating to an “outperform” rating and set a $7.50 target price for the company in a report on Wednesday, January 7th. Janney Montgomery Scott set a $7.00 price target on Algonquin Power & Utilities in a research note on Monday, November 10th. Raymond James Financial boosted their price target on Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “market perform” rating in a report on Friday, October 24th. Finally, Natl Bk Canada upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.70.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Quarry LP bought a new position in Algonquin Power & Utilities in the 3rd quarter worth about $29,000. Fiera Capital Corp bought a new position in shares of Algonquin Power & Utilities in the 3rd quarter worth $55,000. Vise Technologies Inc. purchased a new stake in shares of Algonquin Power & Utilities during the 3rd quarter valued at $56,000. Wedbush Securities Inc. bought a new stake in shares of Algonquin Power & Utilities during the 2nd quarter worth $58,000. Finally, Davis Rea LTD. purchased a new position in Algonquin Power & Utilities in the third quarter worth $67,000. 62.28% of the stock is owned by institutional investors.

Algonquin Power & Utilities Trading Up 0.5%

NYSE:AQN opened at $6.48 on Friday. Algonquin Power & Utilities has a 12 month low of $4.26 and a 12 month high of $6.62. 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 stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of -161.83 and a beta of 0.75. The firm has a fifty day simple moving average of $6.12 and a two-hundred day simple moving average of $5.89.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Algonquin Power & Utilities had a negative net margin of 1.11% and a positive return on equity of 5.14%. The business had revenue of $600.80 million during the quarter, compared to analyst estimates of $596.67 million. During the same quarter in the previous year, the business posted $0.08 EPS. Analysts expect that Algonquin Power & Utilities will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a $0.065 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.26 annualized dividend and a yield of 4.0%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently -650.00%.

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.