Algonquin Power & Utilities Corp. $AQN Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 68.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 705,453 shares of the utilities provider’s stock after acquiring an additional 285,672 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Algonquin Power & Utilities were worth $4,134,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Quarry LP acquired a new position in Algonquin Power & Utilities in the third quarter valued at approximately $29,000. Group One Trading LLC raised its stake in Algonquin Power & Utilities by 63.3% during the 4th quarter. Group One Trading LLC now owns 7,479 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 2,900 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in Algonquin Power & Utilities during the 4th quarter worth $47,000. Tudor Investment Corp ET AL purchased a new stake in Algonquin Power & Utilities in the fourth quarter valued at $62,000. Finally, Vise Technologies Inc. purchased a new stake in Algonquin Power & Utilities in the third quarter valued at $56,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wells Fargo & Company began coverage on Algonquin Power & Utilities in a report on Tuesday, May 12th. They set an “equal weight” rating and a $7.00 price objective on the stock. National Bank Financial reduced their target price on Algonquin Power & Utilities from $7.25 to $7.00 and set an “outperform” rating for the company in a report on Friday, July 3rd. Canadian Imperial Bank of Commerce upped their target price on Algonquin Power & Utilities from $6.25 to $6.50 and gave the company a “neutral” rating in a research report on Monday, April 20th. Finally, Weiss Ratings downgraded Algonquin Power & Utilities from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.81.

Algonquin Power & Utilities Stock Up 1.0%

AQN stock opened at $5.83 on Friday. The company has a fifty day moving average price of $5.84 and a 200 day moving average price of $6.16. Algonquin Power & Utilities Corp. has a 12 month low of $5.32 and a 12 month high of $7.11. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 30.66 and a beta of 0.70. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.05 and a quick ratio of 0.87.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings data 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). The business had revenue of $582.99 million for the quarter, compared to analysts’ expectations of $582.99 million. Algonquin Power & Utilities had a return on equity of 5.14% and a net margin of 5.77%.During the same period in the previous year, the business 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. Sell-side analysts expect that Algonquin Power & Utilities Corp. will post 0.35 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Tuesday, September 29th. This represents a $0.26 annualized dividend and a dividend yield of 4.5%. Algonquin Power & Utilities’s dividend payout ratio is 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.