Canada Pension Plan Investment Board Acquires New Position in Algonquin Power & Utilities Corp. $AQN

Key Points

• Canada Pension Plan Investment Board acquired 3.45 million Algonquin Power & Utilities shares during the second quarter, worth approximately $20.3 million and representing about 0.45% of the company.
• Institutional investors own 62.28% of AQN. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $6.81.
• Algonquin reported quarterly EPS of $0.04, slightly below estimates, while maintaining a quarterly dividend of $0.065 per share, equivalent to a 4.6% annualized yield.

Canada Pension Plan Investment Board bought a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,450,000 shares of the utilities provider's stock, valued at approximately $20,267,000. Canada Pension Plan Investment Board owned about 0.45% of Algonquin Power & Utilities as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new position in Algonquin Power & Utilities in the 3rd quarter valued at $29,000. Group One Trading LLC boosted its holdings 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 purchasing an additional 2,900 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Algonquin Power & Utilities in the fourth quarter valued at $47,000. Tudor Investment Corp ET AL purchased a new stake in shares of Algonquin Power & Utilities in the fourth quarter valued at $62,000. Finally, Vise Technologies Inc. acquired a new position in Algonquin Power & Utilities in the third quarter valued at $56,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AQN shares. Wells Fargo & Company began coverage on Algonquin Power & Utilities in a research report on Tuesday, May 12th. They set an "equal weight" rating and a $7.00 target price on the stock. National Bank Financial lowered 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. Finally, Weiss Ratings downgraded shares of Algonquin Power & Utilities from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $6.81.

Algonquin Power & Utilities Stock Performance

Shares of AQN stock opened at $5.68 on Friday. The company's fifty day simple moving average is $5.80 and its 200-day simple moving average is $6.10. Algonquin Power & Utilities Corp. has a 52 week low of $5.32 and a 52 week high of $7.11. The company has a current ratio of 0.88, a quick ratio of 0.69 and a debt-to-equity ratio of 1.28. The company has a market cap of $4.37 billion, a PE ratio of 29.90 and a beta of 0.70.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted 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 5.16%. The business had revenue of $582.99 million for the quarter, compared to analyst estimates of $582.99 million. During the same quarter in the previous year, the firm posted $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. As a group, equities research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.35 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Tuesday, September 29th. Algonquin Power & Utilities's payout ratio is currently 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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