June 30 (Reuters) - Activist hedge fund Starboard Value LP in a filing on Friday reported a 5% stake in Algonquin Power & Utilities Corp (AQN.TO), saying it purchased the company's shares on the belief they were undervalued and represented an attractive investment opportunity. U.S.-listed shares of Algonquin rose 1.3% to $8.43 in pre-market trade. The Wall Street Journal first reported on the stake purchase on Thursday, citing people familiar with the matter. The company owns and operates regulated utilities, as well as power generating and water assets, across Canada and the United States, with its regulated business serving more than 1 million customers, according to its website. Reporting by Chandni Shah and Arunima Kumar in Bengaluru; Editing by Maju Samuel and Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Source: Wall Street Journal June 30, 2023 07:32 UTC