6,388,376 Shares in Algonquin Power & Utilities Corp. $AQN Bought by Legal & General Group Plc

Legal & General Group Plc acquired a new position in Algonquin Power & Utilities Corp. (NYSE:AQN) during the second quarter, Holdings Channel.com reports. The firm acquired 6,388,376 shares of the utilities provider’s stock, valued at approximately $37,553,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Algonquin Power & Utilities during the third quarter valued at about $29,000. Group One Trading LLC lifted its stake in shares of Algonquin Power & Utilities by 63.3% in the fourth 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 purchased a new position in Algonquin Power & Utilities in the fourth quarter valued at about $47,000. Vise Technologies Inc. purchased a new position in Algonquin Power & Utilities in the third quarter valued at about $56,000. Finally, Tudor Investment Corp ET AL acquired a new stake in Algonquin Power & Utilities during the 4th quarter valued at approximately $62,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Stock Performance

NYSE:AQN opened at $5.68 on Friday. 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 is $5.80 and its two-hundred day moving average is $6.10. Algonquin Power & Utilities Corp. has a 52 week low of $5.32 and a 52 week high of $7.11. The company has a market cap of $4.37 billion, a PE ratio of 29.90 and a beta of 0.70.

Algonquin Power & Utilities (NYSE:AQN) last issued its quarterly earnings results on Friday, August 7th. The utilities provider reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $582.99 million during the quarter, compared to the consensus estimate 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 quarter last year, the firm 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. On average, 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 disclosed 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. This represents a $0.26 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 29th. Algonquin Power & Utilities’s payout ratio is currently 136.84%.

Analysts Set New Price Targets

Several research firms have issued reports on AQN. Wells Fargo & Company initiated 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 decreased their price target 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. Finally, Weiss Ratings lowered shares of Algonquin Power & Utilities from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Six equities research 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 has a consensus rating of “Moderate Buy” and a consensus target price of $6.81.

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.