Bank of America Corp DE Increases Stock Holdings in Algonquin Power & Utilities Corp. $AQN

Key Points

• Bank of America increased its Algonquin Power & Utilities stake by 31.4% in the first quarter, adding 849,241 shares to own 3.56 million shares valued at approximately $21.8 million. Institutional investors collectively own 62.28% of AQN.
• AQN shares opened at $5.79, near the lower end of their 12-month range of $5.32 to $7.11. The company recently reported quarterly EPS of $0.04, below the $0.05 consensus estimate, while maintaining FY 2026 EPS guidance of $0.35-$0.37.
• Algonquin declared a quarterly dividend of $0.065, equivalent to a 4.5% annual yield, though its payout ratio is high at 136.84%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $6.81.

Bank of America Corp DE boosted its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 31.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,556,090 shares of the utilities provider's stock after buying an additional 849,241 shares during the period. Bank of America Corp DE owned approximately 0.46% of Algonquin Power & Utilities worth $21,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AQN. Quarry LP acquired a new position in shares of Algonquin Power & Utilities during the third quarter valued at about $29,000. Group One Trading LLC lifted its stake in shares of Algonquin Power & Utilities by 63.3% during the fourth quarter. Group One Trading LLC now owns 7,479 shares of the utilities provider's stock worth $46,000 after buying an additional 2,900 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of Algonquin Power & Utilities during the fourth quarter valued at $47,000. Tudor Investment Corp ET AL purchased a new stake in shares of Algonquin Power & Utilities during the fourth quarter valued at $62,000. Finally, Vise Technologies Inc. acquired a new position in shares of Algonquin Power & Utilities in the 3rd quarter valued at $56,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Stock Down 0.6%

Shares of AQN opened at $5.79 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.69 and a debt-to-equity ratio of 1.28. Algonquin Power & Utilities Corp. has a 12 month low of $5.32 and a 12 month high of $7.11. The stock's 50 day moving average is $5.83 and its two-hundred day moving average is $6.14. The firm has a market cap of $4.46 billion, a P/E ratio of 30.50 and a beta of 0.70.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced 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). The business had revenue of $582.99 million for the quarter, compared to analyst estimates of $582.99 million. Algonquin Power & Utilities had a return on equity of 5.16% and a net margin of 5.77%.During the same period in the previous year, the company earned $0.04 earnings per share. 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. Analysts predict that Algonquin Power & Utilities Corp. will post 0.35 earnings per share 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. Investors of record on Tuesday, September 29th will be issued a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 4.5%. The ex-dividend date is Tuesday, September 29th. Algonquin Power & Utilities's payout ratio is presently 136.84%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AQN shares. Wells Fargo & Company started coverage on Algonquin Power & Utilities in a research note on Tuesday, May 12th. They issued an "equal weight" rating and a $7.00 price objective for the company. 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. Finally, National Bank Financial cut their price objective on shares of Algonquin Power & Utilities from $7.25 to $7.00 and set an "outperform" rating on the stock in a research note on Friday, July 3rd. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $6.81.

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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