The Manufacturers Life Insurance Company Purchases New Holdings in Algonquin Power & Utilities Corp. $AQN

The Manufacturers Life Insurance Company purchased a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,480,017 shares of the utilities provider’s stock, valued at approximately $26,260,000.

A number of other large investors have also added to or reduced their stakes in the stock. Quarry LP bought a new position in Algonquin Power & Utilities during the 3rd quarter worth $29,000. Group One Trading LLC lifted its position in shares of 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 valued at $46,000 after acquiring an additional 2,900 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of Algonquin Power & Utilities during the 4th quarter worth $47,000. Vise Technologies Inc. bought a new position in shares of Algonquin Power & Utilities in the third quarter worth $56,000. Finally, August Group Capital Ltd bought a new position in shares of Algonquin Power & Utilities in the second quarter worth $62,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AQN. Weiss Ratings cut shares of Algonquin Power & Utilities from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Wells Fargo & Company began coverage on shares of Algonquin Power & Utilities in a report on Tuesday, May 12th. They issued an “equal weight” rating and a $7.00 target price on the stock. Finally, National Bank Financial dropped their target price on shares of Algonquin Power & Utilities from $7.25 to $7.00 and set an “outperform” rating for the company in a research report on Friday, July 3rd. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $6.81.

Algonquin Power & Utilities Stock Performance

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

Algonquin Power & Utilities (NYSE:AQN) last posted its earnings results on Friday, August 7th. The utilities provider reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The company had revenue of $582.99 million during the quarter, compared to the consensus estimate of $582.99 million. Algonquin Power & Utilities had a return on equity of 5.16% and a net margin of 5.77%.During the same period last year, the company posted $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, analysts expect that Algonquin Power & Utilities Corp. will post 0.35 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 29th will be paid a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $0.26 annualized dividend and a yield of 4.6%. Algonquin Power & Utilities’s dividend payout ratio is presently 136.84%.

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.