Connor Clark & Lunn Investment Management Ltd. Invests $4.98 Million in Algonquin Power & Utilities Corp. $AQN

Key Points

• Connor Clark & Lunn Investment Management purchased 847,500 shares of Algonquin Power & Utilities, valued at approximately $4.98 million, giving it a 0.11% stake.
• Algonquin shares opened at $5.67, near the lower end of their 12-month range, while the company’s latest quarterly earnings of $0.04 per share missed analyst expectations by $0.01.
• The company declared a quarterly dividend of $0.065, equivalent to an annualized $0.26 payout and a 4.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $6.81.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 847,500 shares of the utilities provider's stock, valued at approximately $4,979,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.11% of Algonquin Power & Utilities as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the company. Public Sector Pension Investment Board increased its holdings in Algonquin Power & Utilities by 2.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 74,271 shares of the utilities provider's stock worth $424,000 after purchasing an additional 1,800 shares during the period. Assetmark Inc. lifted its holdings in shares of Algonquin Power & Utilities by 9.4% in the 1st quarter. Assetmark Inc. now owns 22,141 shares of the utilities provider's stock worth $136,000 after buying an additional 1,895 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of Algonquin Power & Utilities by 1.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 133,733 shares of the utilities provider's stock worth $823,000 after buying an additional 1,966 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Algonquin Power & Utilities by 13.1% in the 1st quarter. Bank of New York Mellon Corp now owns 17,334 shares of the utilities provider's stock worth $106,000 after buying an additional 2,010 shares during the period. Finally, LPL Financial LLC grew its position in shares of Algonquin Power & Utilities by 5.7% during the 4th quarter. LPL Financial LLC now owns 37,364 shares of the utilities provider's stock worth $230,000 after buying an additional 2,026 shares in the last quarter. Hedge funds and other institutional investors own 62.28% of the company's stock.

Algonquin Power & Utilities Trading Down 0.6%

Shares of NYSE:AQN opened at $5.67 on Friday. The company has a market capitalization of $4.37 billion, a PE ratio of 29.87 and a beta of 0.70. 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 business's fifty day simple moving average is $5.81 and its 200-day simple moving average is $6.11.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The utilities provider reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $582.99 million for the quarter, compared to analysts' expectations of $582.99 million. During the same quarter last 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. As a group, equities research 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 declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th will be issued a $0.065 dividend. 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 dividend payout ratio (DPR) is currently 136.84%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings downgraded Algonquin Power & Utilities from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Wells Fargo & Company assumed coverage on shares of 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. Finally, National Bank Financial reduced their price target on shares of Algonquin Power & Utilities from $7.25 to $7.00 and set an "outperform" rating for the company in a report on Friday, July 3rd. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $6.81.

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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