Greenland Capital Management LP Acquires New Shares in Algonquin Power & Utilities Corp. $AQN

Greenland Capital Management LP bought a new stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 975,010 shares of the utilities provider's stock, valued at approximately $5,732,000. Algonquin Power & Utilities comprises 0.7% of Greenland Capital Management LP's investment portfolio, making the stock its 29th largest holding. Greenland Capital Management LP owned approximately 0.13% of Algonquin Power & Utilities at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. EdgePoint Investment Group Inc. boosted its position in shares of Algonquin Power & Utilities by 32.6% during the fourth quarter. EdgePoint Investment Group Inc. now owns 81,727,385 shares of the utilities provider's stock valued at $502,563,000 after buying an additional 20,074,709 shares during the last quarter. Principal Financial Group Inc. bought a new stake in Algonquin Power & Utilities in the 4th quarter worth about $74,263,000. Norges Bank purchased a new position in Algonquin Power & Utilities in the 4th quarter worth about $67,065,000. Goldman Sachs Group Inc. raised its position in Algonquin Power & Utilities by 65.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider's stock worth $62,738,000 after buying an additional 4,808,539 shares during the last quarter. Finally, Citadel Advisors LLC lifted its stake in Algonquin Power & Utilities by 14,166.9% during the 3rd quarter. Citadel Advisors LLC now owns 4,445,126 shares of the utilities provider's stock valued at $23,870,000 after acquiring an additional 4,476,726 shares during the period. Hedge funds and other institutional investors own 62.28% of the company's stock.

Algonquin Power & Utilities Stock Performance

Shares of AQN opened at $5.71 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.88 and a quick ratio of 0.69. Algonquin Power & Utilities Corp. has a one year low of $5.32 and a one year high of $7.11. The firm has a market capitalization of $4.40 billion, a P/E ratio of 30.05 and a beta of 0.70. The business has a fifty day moving average of $5.83 and a 200 day moving average of $6.13.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The utilities provider reported $0.04 EPS for the quarter, missing analysts' consensus estimates 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 firm 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 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, sell-side analysts anticipate that Algonquin Power & Utilities Corp. will post 0.35 EPS for the current year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $0.26 annualized dividend and a dividend yield of 4.6%. Algonquin Power & Utilities's dividend payout ratio is presently 136.84%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AQN shares. National Bank Financial dropped their price target on shares of Algonquin Power & Utilities from $7.25 to $7.00 and set an "outperform" rating on the stock in a report on Friday, July 3rd. Weiss Ratings cut shares of Algonquin Power & Utilities from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company started 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 price objective on the stock. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Algonquin Power & Utilities presently 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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