Man Group plc Takes Position in Algonquin Power & Utilities Corp. $AQN

Key Points

• Man Group plc acquired 3.53 million Algonquin Power & Utilities shares in the second quarter, valued at approximately $20.7 million and representing about 0.46% of the company. Institutional investors collectively own 62.28% of AQN.
• Analysts maintain a generally favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $6.81, despite recent target reductions and an “equal weight” initiation from Wells Fargo.
• Algonquin reported quarterly EPS of $0.04, below the $0.05 consensus estimate, while declaring a quarterly dividend of $0.065 per share. The annualized dividend yield is approximately 4.6%, though the payout ratio is high at 136.84%.

Man Group plc bought a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,530,674 shares of the utilities provider's stock, valued at approximately $20,690,000. Man Group plc owned about 0.46% of Algonquin Power & Utilities as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Quarry LP bought a new position in Algonquin Power & Utilities in the 3rd quarter valued at about $29,000. Group One Trading LLC grew its position in shares of Algonquin Power & Utilities by 63.3% in the fourth quarter. Group One Trading LLC now owns 7,479 shares of the utilities provider's stock valued at $46,000 after purchasing an additional 2,900 shares during the last quarter. NewEdge Advisors LLC bought a new position in shares of Algonquin Power & Utilities during the fourth quarter worth approximately $47,000. Vise Technologies Inc. bought a new position in shares of Algonquin Power & Utilities during the third quarter worth approximately $56,000. Finally, August Group Capital Ltd acquired a new stake in Algonquin Power & Utilities during the 2nd quarter worth approximately $62,000. Institutional investors own 62.28% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. National Bank Financial reduced their price target on Algonquin Power & Utilities from $7.25 to $7.00 and set an "outperform" rating for the company in a research note on Friday, July 3rd. Weiss Ratings cut Algonquin Power & Utilities from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company started coverage on Algonquin Power & Utilities in a report on Tuesday, May 12th. They set an "equal weight" rating and a $7.00 target price for the company. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.81.

Algonquin Power & Utilities Stock Performance

NYSE:AQN opened at $5.71 on Thursday. The stock has a fifty day moving average price of $5.81 and a 200-day moving average price of $6.11. The company has a market cap of $4.40 billion, a price-to-earnings ratio of 30.05 and a beta of 0.70. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.69 and a current ratio of 0.88. Algonquin Power & Utilities Corp. has a fifty-two week low of $5.32 and a fifty-two week high of $7.11.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last released its earnings results 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 company had revenue of $582.99 million for the quarter, compared to analyst estimates of $582.99 million. During the same period last year, the company posted $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 analysts anticipate that Algonquin Power & Utilities Corp. will post 0.35 EPS 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. 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 yield of 4.6%. The ex-dividend date is Tuesday, September 29th. Algonquin Power & Utilities's dividend payout ratio is presently 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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