Magnetar Financial LLC Makes New Investment in Algonquin Power & Utilities Corp. $AQN

Magnetar Financial LLC acquired a new stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 271,852 shares of the utilities provider’s stock, valued at approximately $1,460,000.

A number of other hedge funds have also recently modified their holdings of AQN. Wedbush Securities Inc. bought a new position in shares of Algonquin Power & Utilities in the 2nd quarter worth about $58,000. Fiera Capital Corp purchased a new position in Algonquin Power & Utilities during the 3rd quarter valued at about $55,000. Davis Rea LTD. bought a new stake in Algonquin Power & Utilities during the third quarter worth about $67,000. Envestnet Asset Management Inc. purchased a new stake in Algonquin Power & Utilities in the second quarter worth about $85,000. Finally, SG Americas Securities LLC grew its holdings in Algonquin Power & Utilities by 29.1% in the third quarter. SG Americas Securities LLC now owns 15,840 shares of the utilities provider’s stock worth $85,000 after purchasing an additional 3,572 shares during the period. Institutional investors own 62.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Scotiabank upgraded shares of Algonquin Power & Utilities from a “sector perform” rating to a “sector outperform” rating and set a $6.50 target price for the company in a report on Tuesday, December 16th. Weiss Ratings downgraded Algonquin Power & Utilities from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 6th. Canadian Imperial Bank of Commerce reduced their price objective on Algonquin Power & Utilities from $6.50 to $6.25 and set a “neutral” rating for the company in a research report on Tuesday. Raymond James Financial upgraded Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $6.50 to $7.25 in a research note on Monday. Finally, Desjardins cut their target price on Algonquin Power & Utilities from $7.25 to $7.00 and set a “buy” rating on the stock in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Algonquin Power & Utilities has a consensus rating of “Hold” and a consensus target price of $6.63.

Algonquin Power & Utilities Trading Up 0.2%

Shares of NYSE AQN opened at $6.30 on Friday. The firm’s 50 day moving average price is $6.54 and its 200-day moving average price is $6.09. The company has a market cap of $4.84 billion, a PE ratio of 27.37 and a beta of 0.75. Algonquin Power & Utilities Corp. has a 52-week low of $4.45 and a 52-week high of $7.11. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.98 and a current ratio of 1.00.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings results on Friday, March 6th. The utilities provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. Algonquin Power & Utilities had a net margin of 7.32% and a return on equity of 5.47%. The company had revenue of $630.70 million during the quarter, compared to the consensus estimate of $625.77 million. During the same quarter last year, the firm earned $0.06 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. 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, equities research analysts expect that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.065 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.1%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 113.04%.

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.