Legal & General Group Plc Makes New $37.55 Million Investment in Algonquin Power & Utilities Corp. $AQN

Legal & General Group Plc acquired a new position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,388,376 shares of the utilities provider’s stock, valued at approximately $37,553,000. Legal & General Group Plc owned about 0.83% of Algonquin Power & Utilities as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Quarry LP acquired a new stake in Algonquin Power & Utilities in the 3rd quarter worth about $29,000. Group One Trading LLC grew its holdings in Algonquin Power & Utilities by 63.3% in the 4th quarter. Group One Trading LLC now owns 7,479 shares of the utilities provider’s stock valued at $46,000 after buying an additional 2,900 shares during the period. NewEdge Advisors LLC acquired a new position in shares of Algonquin Power & Utilities during the 4th quarter valued at about $47,000. Vise Technologies Inc. acquired a new position in shares of Algonquin Power & Utilities during the 3rd quarter valued at about $56,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Algonquin Power & Utilities during the 4th quarter worth about $62,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Stock Performance

NYSE:AQN opened at $5.68 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. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 29.90 and a beta of 0.70. The firm’s fifty day simple moving average is $5.80 and its 200 day simple moving average is $6.10. Algonquin Power & Utilities Corp. has a twelve month low of $5.32 and a twelve month high of $7.11.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings results on Friday, August 7th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). Algonquin Power & Utilities had a net margin of 5.77% and a return on equity of 5.16%. The company had revenue of $582.99 million during the quarter, compared to analyst estimates of $582.99 million. During the same quarter in the prior year, the company 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. As a group, equities research 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 declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 29th will be given a dividend of $0.065 per share. 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 payout ratio is 136.84%.

Analyst Upgrades and Downgrades

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

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.