Algonquin Power & Utilities Corp. $AQN Shares Acquired by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management increased its Algonquin Power & Utilities position by 68.1% in the second quarter, owning 705,453 shares valued at approximately $4.1 million. Institutional investors collectively hold 62.28% of AQN’s outstanding stock.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $6.81, although recent targets were mixed. AQN shares opened at $5.83, near their 50-day moving average and below the 200-day average.
• Algonquin reported quarterly EPS of $0.04, missing estimates by $0.01, while revenue matched forecasts at $582.99 million. The company declared a quarterly dividend of $0.065 per share, representing a 4.5% annualized yield, though its payout ratio remains high at 136.84%.

Wedge Capital Management L L P NC lifted its position in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 68.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 705,453 shares of the utilities provider's stock after buying an additional 285,672 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.09% of Algonquin Power & Utilities worth $4,134,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. EdgePoint Investment Group Inc. grew its position in Algonquin Power & Utilities by 32.6% in the 4th quarter. EdgePoint Investment Group Inc. now owns 81,727,385 shares of the utilities provider's stock valued at $502,563,000 after acquiring an additional 20,074,709 shares in the last quarter. Vanguard Group Inc. increased its stake in Algonquin Power & Utilities by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 34,456,155 shares of the utilities provider's stock worth $211,871,000 after purchasing an additional 711,569 shares during the period. Bank of Montreal Can lifted its position in shares of Algonquin Power & Utilities by 23.1% during the fourth quarter. Bank of Montreal Can now owns 20,717,144 shares of the utilities provider's stock worth $127,395,000 after purchasing an additional 3,886,254 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Algonquin Power & Utilities by 13.0% in the first quarter. Principal Financial Group Inc. now owns 13,633,904 shares of the utilities provider's stock valued at $83,497,000 after purchasing an additional 1,563,924 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings 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 valued at $62,738,000 after purchasing an additional 4,808,539 shares in the last quarter. Institutional investors and hedge funds own 62.28% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AQN shares. Weiss Ratings downgraded shares of Algonquin Power & Utilities from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday. Canadian Imperial Bank of Commerce boosted 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 note on Monday, April 20th. National Bank Financial cut their price objective on Algonquin Power & Utilities from $7.25 to $7.00 and set an "outperform" rating on the stock in a research report on Friday, July 3rd. Finally, Wells Fargo & Company initiated coverage on Algonquin Power & Utilities in a research report on Tuesday, May 12th. They set an "equal weight" rating and a $7.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $6.81.

Algonquin Power & Utilities Stock Performance

Shares of Algonquin Power & Utilities stock opened at $5.83 on Friday. The business has a 50-day simple moving average of $5.84 and a 200-day simple moving average of $6.16. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.87 and a current ratio of 1.05. Algonquin Power & Utilities Corp. has a one year low of $5.32 and a one year high of $7.11. The company has a market cap of $4.48 billion, a PE ratio of 30.66 and a beta of 0.70.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last issued its earnings results on Friday, August 7th. The utilities provider reported $0.04 earnings per share 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 5.14%. 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 business 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, equities research analysts forecast that Algonquin Power & Utilities Corp. will post 0.35 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 29th. Algonquin Power & Utilities's payout ratio is 136.84%.

About Algonquin Power & Utilities

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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