Canada Pension Plan Investment Board Takes $20.27 Million Position in Algonquin Power & Utilities Corp. $AQN

Canada Pension Plan Investment Board bought a new stake in Algonquin Power & Utilities Corp. (NYSE:AQN) in the 2nd quarter, Holdings Channel reports. The fund bought 3,450,000 shares of the utilities provider’s stock, valued at approximately $20,267,000.

A number of other large investors have also added to or reduced their stakes in AQN. Legal & General Group Plc purchased a new stake in Algonquin Power & Utilities during the 2nd quarter worth $37,553,000. The Manufacturers Life Insurance Company purchased a new position in Algonquin Power & Utilities in the 2nd quarter valued at about $26,260,000. Infrastructure Capital Advisors LLC purchased a new position in Algonquin Power & Utilities in the 2nd quarter valued at about $191,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Algonquin Power & Utilities during the second quarter valued at about $4,979,000. Finally, Bank of Nova Scotia acquired a new stake in shares of Algonquin Power & Utilities during the second quarter valued at about $46,703,000. 62.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AQN shares. Weiss Ratings lowered Algonquin Power & Utilities from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. National Bank Financial reduced their price target 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. Finally, Wells Fargo & Company initiated coverage on Algonquin Power & Utilities in a research note on Tuesday, May 12th. They set an “equal weight” rating and a $7.00 price objective for the company. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $6.81.

Algonquin Power & Utilities Price Performance

AQN stock opened at $5.68 on Friday. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 29.90 and a beta of 0.70. Algonquin Power & Utilities Corp. has a 1-year low of $5.32 and a 1-year high of $7.11. The firm has a fifty day moving average price of $5.80 and a two-hundred day moving average price of $6.10. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.88 and a quick ratio of 0.69.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings results on Friday, August 7th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Algonquin Power & Utilities had a return on equity of 5.16% and a net margin of 5.77%.The business had revenue of $582.99 million during the quarter, compared to the consensus estimate of $582.99 million. During the same quarter 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. Research analysts predict that Algonquin Power & Utilities Corp. will post 0.35 EPS 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. Shareholders of record on Tuesday, September 29th will be issued a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $0.26 dividend on an annualized basis and a yield of 4.6%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is currently 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.