Algonquin Power & Utilities Corp. $AQN Stock Sold by RWC Asset Management LLP

RWC Asset Management LLP lowered its position in Algonquin Power & Utilities Corp. (NYSE:AQN) by 24.8% in the third quarter, Holdings Channel.com reports. The firm owned 1,742,882 shares of the utilities provider’s stock after selling 574,837 shares during the quarter. RWC Asset Management LLP’s holdings in Algonquin Power & Utilities were worth $8,767,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in shares of Algonquin Power & Utilities by 51.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,052 shares of the utilities provider’s stock worth $41,000 after buying an additional 2,729 shares in the last quarter. August Group Capital Ltd acquired a new stake in shares of Algonquin Power & Utilities in the 2nd quarter valued at approximately $62,000. State of Wyoming purchased a new stake in shares of Algonquin Power & Utilities in the second quarter valued at approximately $63,000. Concurrent Investment Advisors LLC purchased a new stake in shares of Algonquin Power & Utilities in the second quarter valued at approximately $74,000. Finally, Able Wealth Management LLC purchased a new stake in shares of Algonquin Power & Utilities in the first quarter valued at approximately $77,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Price Performance

Algonquin Power & Utilities stock traded down $0.04 during trading hours on Friday, hitting $5.41. The stock had a trading volume of 3,733,366 shares, compared to its average volume of 4,029,168. Algonquin Power & Utilities Corp. has a 1-year low of $4.91 and a 1-year high of $7.11. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 28.45 and a beta of 0.72. The stock’s fifty day moving average is $5.37 and its two-hundred day moving average is $5.76. 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 released 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 return on equity of 5.16% and a net margin of 5.77%. The firm had revenue of $582.99 million for the quarter, compared to analyst estimates of $582.99 million. During the same period last year, the firm earned $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 predict that Algonquin Power & Utilities Corp. will post 0.35 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th were paid a dividend of $0.0650 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Tuesday, September 29th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is 136.84%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AQN shares. TD set a $6.00 price objective on Algonquin Power & Utilities and gave the stock a “hold” rating in a research report on Monday, August 31st. Huntington initiated coverage on shares of Algonquin Power & Utilities in a report on Monday, September 14th. They set an “outperform” rating and a $7.00 price objective on the stock. Barclays decreased their price objective on shares of Algonquin Power & Utilities from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Thursday, October 1st. National Bank Financial set a $7.00 target price on shares of Algonquin Power & Utilities and gave the stock an “outperform” rating in a research report on Tuesday, September 1st. Finally, Weiss Ratings cut shares of Algonquin Power & Utilities from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.66.

Algonquin Power & Utilities Profile

Algonquin Power & Utilities Corp. is a Canadian utility company that owns and operates regulated electric, natural gas and water distribution businesses. Through its Liberty operating brands, the company provides essential utility services to residential, commercial and industrial customers in communities across the United States and Canada.

The company’s regulated utility operations include electricity distribution and generation, natural gas distribution, and water and wastewater services.