1,367,030 Shares in Algonquin Power & Utilities Corp. $AQN Bought by Heartland Advisors Inc.

Key Points

• Heartland Advisors acquired 1.37 million Algonquin Power & Utilities shares in the second quarter, worth approximately $8.0 million and representing about 0.18% of the company. Institutional investors collectively own 62.28% of AQN.
• Analysts maintain a generally positive outlook, with six Buy and five Hold ratings producing a “Moderate Buy” consensus and an average price target of $6.81. AQN recently traded at $5.71, down 1.9%.
• Algonquin reported quarterly EPS of $0.04, slightly below the $0.05 consensus, while revenue matched estimates at $582.99 million. The company declared a quarterly dividend of $0.065 per share, equivalent to a 4.6% yield, though its payout ratio is elevated at 136.84%.

Heartland Advisors Inc. bought a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,367,030 shares of the utilities provider's stock, valued at approximately $8,011,000. Heartland Advisors Inc. owned about 0.18% of Algonquin Power & Utilities at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake 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 purchasing an additional 4,808,539 shares during the period. Envestnet Asset Management Inc. bought a new stake in Algonquin Power & Utilities during the 2nd quarter valued at approximately $85,000. American Century Companies Inc. boosted its stake in Algonquin Power & Utilities by 8.4% during the 2nd quarter. American Century Companies Inc. now owns 240,683 shares of the utilities provider's stock valued at $1,377,000 after purchasing an additional 18,752 shares during the period. Russell Investments Group Ltd. grew its holdings in Algonquin Power & Utilities by 15.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 120,708 shares of the utilities provider's stock valued at $691,000 after buying an additional 16,552 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in Algonquin Power & Utilities by 465.0% in the 2nd quarter. Marshall Wace LLP now owns 106,046 shares of the utilities provider's stock valued at $608,000 after buying an additional 87,276 shares during the last quarter. Institutional investors and hedge funds own 62.28% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AQN. 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 report on Friday, July 3rd. Wells Fargo & Company assumed coverage on shares of Algonquin Power & Utilities in a research note on Tuesday, May 12th. They issued an "equal weight" rating and a $7.00 price objective on the stock. Finally, Weiss Ratings lowered shares of Algonquin Power & Utilities from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.81.

Algonquin Power & Utilities Stock Down 1.9%

AQN stock opened at $5.71 on Friday. Algonquin Power & Utilities Corp. has a twelve month low of $5.32 and a twelve month high of $7.11. The company has a market cap of $4.40 billion, a PE ratio of 30.05 and a beta of 0.70. The business's 50-day simple moving average is $5.83 and its 200 day simple moving average is $6.13. The company has a quick ratio of 0.69, a current ratio of 0.88 and a debt-to-equity ratio of 1.28.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The utilities provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). Algonquin Power & Utilities had a net margin of 5.77% and a return on equity of 5.16%. The firm had revenue of $582.99 million during the quarter, compared to analyst estimates of $582.99 million. During the same period last year, the company earned $0.04 EPS. Algonquin Power & Utilities has set its FY 2027 guidance at 0.380-0.420 EPS and its FY 2026 guidance at 0.350-0.370 EPS. On average, research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.35 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 29th will be paid a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 29th. Algonquin Power & Utilities's dividend payout ratio is currently 136.84%.

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.

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