Man Group plc Acquires Shares of 3,530,674 Algonquin Power & Utilities Corp. $AQN

Man Group plc bought a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 3,530,674 shares of the utilities provider’s stock, valued at approximately $20,690,000.

A number of other large investors have also recently modified their holdings of the business. EdgePoint Investment Group Inc. increased its stake in shares of 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. Vanguard Group Inc. lifted its position in shares of Algonquin Power & Utilities by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 34,456,155 shares of the utilities provider’s stock worth $211,871,000 after buying an additional 711,569 shares during the last quarter. Bank of Montreal Can boosted its stake in Algonquin Power & Utilities by 23.1% in the fourth quarter. Bank of Montreal Can now owns 20,717,144 shares of the utilities provider’s stock valued at $127,395,000 after buying an additional 3,886,254 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Algonquin Power & Utilities by 13.0% in the first quarter. Principal Financial Group Inc. now owns 13,633,904 shares of the utilities provider’s stock valued at $83,497,000 after buying an additional 1,563,924 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in 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. Institutional investors and hedge funds own 62.28% of the company’s stock.

Wall Street Analysts Forecast Growth

AQN has been the subject of several research analyst reports. National Bank Financial lowered their target price 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 downgraded shares of Algonquin Power & Utilities from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. 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 target on the stock. Six equities 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 target price of $6.81.

Algonquin Power & Utilities Stock Down 0.7%

Shares of AQN opened at $5.71 on Thursday. Algonquin Power & Utilities Corp. has a 52 week low of $5.32 and a 52 week high of $7.11. The stock has a market capitalization 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. The stock has a fifty day moving average of $5.81 and a 200-day moving average of $6.11.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data 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). The firm had revenue of $582.99 million for the quarter, compared to analyst estimates of $582.99 million. Algonquin Power & Utilities had a net margin of 5.77% and a return on equity of 5.16%. During the same period last year, the business 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. As a group, sell-side analysts anticipate 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 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 of this dividend is Tuesday, September 29th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 136.84%.

Algonquin Power & Utilities Company 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.