Wedge Capital Management L L P NC Invests $2.91 Million in Algonquin Power & Utilities Corp. $AQN

Wedge Capital Management L L P NC purchased a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) during the fourth quarter, Holdings Channel reports. The fund purchased 472,980 shares of the utilities provider’s stock, valued at approximately $2,909,000.

Other hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position in shares of Algonquin Power & Utilities by 65.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock worth $62,738,000 after purchasing an additional 4,808,539 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in Algonquin Power & Utilities during the 2nd quarter worth $85,000. Geode Capital Management LLC raised its stake in shares of Algonquin Power & Utilities by 7.0% during the second quarter. Geode Capital Management LLC now owns 1,613,145 shares of the utilities provider’s stock worth $9,243,000 after purchasing an additional 105,560 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Algonquin Power & Utilities by 17.1% in the second quarter. Franklin Resources Inc. now owns 687,680 shares of the utilities provider’s stock valued at $3,940,000 after acquiring an additional 100,198 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Algonquin Power & Utilities by 8.4% during the 2nd quarter. American Century Companies Inc. now owns 240,683 shares of the utilities provider’s stock worth $1,377,000 after buying an additional 18,752 shares in the last quarter. Institutional investors and hedge funds own 62.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Desjardins decreased their price target on Algonquin Power & Utilities from $7.25 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. National Bank Financial decreased their price objective on Algonquin Power & Utilities from $7.50 to $7.25 and set an “outperform” rating on the stock in a report on Monday, March 9th. Zacks Research downgraded Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Raymond James Financial raised Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $6.50 to $7.25 in a research note on Monday, March 9th. Finally, TD Cowen dropped their price objective on shares of Algonquin Power & Utilities from $6.50 to $6.00 and set a “hold” rating for the company in a research note on Monday, March 9th. Five analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $6.63.

Algonquin Power & Utilities Price Performance

AQN opened at $6.16 on Monday. Algonquin Power & Utilities Corp. has a twelve month low of $4.45 and a twelve month high of $7.11. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 26.76 and a beta of 0.75. The company has a current ratio of 1.00, a quick ratio of 0.82 and a debt-to-equity ratio of 1.27. The company has a fifty day simple moving average of $6.54 and a 200 day simple moving average of $6.14.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Friday, March 6th. The utilities provider reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Algonquin Power & Utilities had a net margin of 7.32% and a return on equity of 5.47%. The company had revenue of $630.70 million during the quarter, compared to analysts’ expectations of $625.77 million. During the same period in the prior year, the company posted $0.06 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. 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. Equities research analysts expect that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.065 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.26 annualized dividend and a yield of 4.2%. Algonquin Power & Utilities’s payout ratio is currently 113.04%.

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.