BlackRock Inc. Invests $10.36 Million in Algonquin Power & Utilities Corp. $AQN

BlackRock Inc. bought a new stake in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,767,727 shares of the utilities provider's stock, valued at approximately $10,359,000. BlackRock Inc. owned about 0.23% of Algonquin Power & Utilities as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in AQN. EdgePoint Investment Group Inc. raised 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 purchasing an additional 20,074,709 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in Algonquin Power & Utilities in the 4th quarter valued at approximately $74,263,000. Norges Bank acquired a new stake in shares of Algonquin Power & Utilities in the 4th quarter valued at approximately $67,065,000. Goldman Sachs Group Inc. boosted 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 valued at $62,738,000 after buying an additional 4,808,539 shares in the last quarter. Finally, Citadel Advisors LLC boosted its stake in shares of Algonquin Power & Utilities by 14,166.9% in the third quarter. Citadel Advisors LLC now owns 4,445,126 shares of the utilities provider's stock valued at $23,870,000 after buying an additional 4,476,726 shares in the last quarter. 62.28% of the stock is owned by institutional investors and hedge funds.

Algonquin Power & Utilities Trading Up 1.6%

Shares of AQN stock opened at $5.69 on Friday. 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 Corp. has a fifty-two week low of $5.32 and a fifty-two week high of $7.11. The firm's 50 day moving average price is $5.77 and its two-hundred day moving average price is $6.07. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 29.95 and a beta of 0.70.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). Algonquin Power & Utilities had a return on equity of 5.16% and a net margin of 5.77%.The business had revenue of $582.99 million during the quarter, compared to analyst estimates of $582.99 million. During the same period in the previous 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, analysts anticipate that Algonquin Power & Utilities Corp. will post 0.35 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 29th. Algonquin Power & Utilities's payout ratio is presently 136.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. National Bank Financial set a $7.00 target price on shares of Algonquin Power & Utilities and gave the stock an "outperform" rating in a research report on Tuesday. Weiss Ratings downgraded shares of Algonquin Power & Utilities from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. TD set a $6.00 price objective on shares of Algonquin Power & Utilities and gave the company a "hold" rating in a research note on Monday, August 31st. Finally, Wells Fargo & Company began coverage on shares of Algonquin Power & Utilities in a report on Tuesday, May 12th. They set an "equal weight" rating and a $7.00 price objective on the stock. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Algonquin Power & Utilities has an average rating of "Moderate Buy" and a consensus price target of $6.72.

Algonquin Power & Utilities 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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