Public Employees Retirement System of Ohio Buys Shares of 1,426,096 Algonquin Power & Utilities Corp. $AQN

Public Employees Retirement System of Ohio purchased a new position in Algonquin Power & Utilities Corp. (NYSE:AQN) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,426,096 shares of the utilities provider’s stock, valued at approximately $8,362,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Public Sector Pension Investment Board grew its stake in Algonquin Power & Utilities by 2.5% in the second quarter. Public Sector Pension Investment Board now owns 74,271 shares of the utilities provider’s stock valued at $424,000 after purchasing an additional 1,800 shares in the last quarter. Assetmark Inc. raised its stake in shares of Algonquin Power & Utilities by 9.4% during the 1st quarter. Assetmark Inc. now owns 22,141 shares of the utilities provider’s stock worth $136,000 after purchasing an additional 1,895 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Algonquin Power & Utilities by 1.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 133,733 shares of the utilities provider’s stock worth $823,000 after purchasing an additional 1,966 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Algonquin Power & Utilities by 13.1% during the 1st quarter. Bank of New York Mellon Corp now owns 17,334 shares of the utilities provider’s stock valued at $106,000 after buying an additional 2,010 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of Algonquin Power & Utilities by 5.7% during the 4th quarter. LPL Financial LLC now owns 37,364 shares of the utilities provider’s stock valued at $230,000 after buying an additional 2,026 shares during the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AQN has been the topic of a number of research reports. Weiss Ratings downgraded Algonquin Power & Utilities from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. TD set a $6.00 target price on shares of Algonquin Power & Utilities and gave the company a “hold” rating in a research note on Monday. National Bank Financial decreased their target price 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, Wells Fargo & Company began coverage on shares of Algonquin Power & Utilities in a research note on Tuesday, May 12th. They set an “equal weight” rating and a $7.00 price target on the stock. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $6.72.

Algonquin Power & Utilities Stock Performance

Shares of NYSE AQN opened at $5.66 on Tuesday. The business’s 50-day simple moving average is $5.80 and its 200-day simple moving average is $6.09. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.69 and a current ratio of 0.88. Algonquin Power & Utilities Corp. has a 52 week low of $5.32 and a 52 week high of $7.11. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 29.79 and a beta of 0.70.

Algonquin Power & Utilities (NYSE:AQN) last posted its earnings results on Friday, August 7th. The utilities provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $582.99 million during the quarter, compared to analyst estimates of $582.99 million. Algonquin Power & Utilities had a return on equity of 5.16% and a net margin of 5.77%.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. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 29th will be issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 29th. Algonquin Power & Utilities’s dividend payout ratio is currently 136.84%.

Algonquin Power & Utilities 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.