Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Algonquin Power & Utilities Corp. $AQN

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 847,500 shares of the utilities provider’s stock, valued at approximately $4,979,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wedge Capital Management L L P NC grew its stake in Algonquin Power & Utilities by 68.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 705,453 shares of the utilities provider’s stock worth $4,134,000 after buying an additional 285,672 shares during the last quarter. ARS Investment Partners LLC raised its stake in Algonquin Power & Utilities by 29.6% in the fourth quarter. ARS Investment Partners LLC now owns 863,660 shares of the utilities provider’s stock valued at $5,312,000 after buying an additional 197,490 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in Algonquin Power & Utilities by 4,665.2% in the fourth quarter. Jupiter Asset Management Ltd. now owns 918,774 shares of the utilities provider’s stock worth $5,657,000 after acquiring an additional 899,493 shares in the last quarter. Cidel Asset Management Inc. boosted its holdings in Algonquin Power & Utilities by 42.1% in the first quarter. Cidel Asset Management Inc. now owns 3,535,918 shares of the utilities provider’s stock worth $21,587,000 after acquiring an additional 1,048,080 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Algonquin Power & Utilities by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 34,456,155 shares of the utilities provider’s stock worth $211,871,000 after acquiring an additional 711,569 shares in the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Wall Street Analysts Forecast Growth

AQN has been the topic of several recent analyst reports. National Bank Financial cut their price objective 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. Wells Fargo & Company assumed coverage on shares of Algonquin Power & Utilities in a research note on Tuesday, May 12th. They issued an “equal weight” rating and a $7.00 target price for the company. Finally, Weiss Ratings downgraded shares of Algonquin Power & Utilities from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.81.

Algonquin Power & Utilities Stock Performance

Shares of NYSE AQN opened at $5.67 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.69 and a debt-to-equity ratio of 1.28. Algonquin Power & Utilities Corp. has a 12 month low of $5.32 and a 12 month high of $7.11. The company has a 50 day simple moving average of $5.81 and a two-hundred day simple moving average of $6.11. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 29.87 and a beta of 0.70.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Friday, August 7th. The utilities provider reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The business had revenue of $582.99 million during the quarter, compared to analysts’ expectations 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 company earned $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, analysts predict that Algonquin Power & Utilities Corp. will post 0.35 earnings per share for the current year.

Algonquin Power & Utilities Announces Dividend

The business 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 $0.065 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.6%. 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.