Algonquin Power & Utilities Corp.
Built from real-time financials, refreshed daily. For a full Analyst Grade with bull/bear case, price targets, and qualitative risk analysis, generate a AQN research report →
Range $6 – $7.25
Price Chart
About the company
Algonquin Power & Utilities Corp. operates in the power and utility industries. It owns and operates a portfolio of regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.
- CEO
- Roderick K. West
- IPO
- 2009
- Employees
- 3,233
- HQ
- Oakville, ON, CA
AI snapshot
Six angles, distilled from the data.
AQN is still in a recovery phase after spending much of the past year below its 200-day trend, though it has improved from the 52-week low of $5.04. The stock remains well under the 52-week high of $6.96, so the setup is more range repair than a confirmed long-term breakout.
Street sentiment is cautious-to-neutral: the consensus is Hold with 9 Holds, 3 Buys, and 1 Sell. The average target sits at $6.58, above the recent close, and recent revisions have tilted constructive with upgrades from National Bank and Scotiabank, offset by a few target trims.
The earnings pattern is mixed but workable: AQN has beaten EPS in 4 of the last 8 quarters, including three straight beats before the latest miss. Next-year EPS is modeled at 0.4065 versus a TTM 0.24, so shareholders should watch whether execution can sustain that step-up.
No notable insider buying or selling. The only recent filing is a director entry marked as other with zero shares, which reads as non-economic noise rather than a conviction signal.
Profitability is modest but positive, with a 15.87% operating margin and 5.87% net margin. Revenue grew 3.1% year over year, but earnings growth was sharply negative, while leverage remains heavy with $6.53 billion of debt against just $32.6 million of cash.
AQN screens as a diversified utility with a broad regulated footprint across electric, water, gas, and hydro assets. The valuation is not demanding versus its utility profile at 18.41x earnings, while the 31.01% free-cash-flow yield stands out as a key support metric.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $4.48B
- P/E
- 32.04
- Fwd P/E
- 16.49
- PEG
- 0.07
- P/S
- 1.77
- P/B
- 0.97
- EV/EBITDA
- 12.09
- Div Yield
- 4.46%
- Gross Margin
- 45.39%
- Op Margin
- 20.50%
- Net Margin
- 5.86%
- ROE
- 3.20%
- ROIC
- 2.50%
Latest fiscal year · YoY change
- Revenue
- $2.43B+4.9%
- Gross Profit
- $1.79B+4.0%
- Op Income
- $523.10M
- Net Income
- $180.80M+113.1%
- EPS
- $0.23+112.7%
- OCF Growth
- +31.7%
- FCF Growth
- +51.2%
- 52W High
- $7.11
- 52W Low
- $5.32
- 50D MA
- $5.84
- 200D MA
- $6.13
- Beta
- 0.90
- RSI (14)
- 50
- Avg Volume
- 4.40M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Algonquin said second-quarter results were broadly in line with its plan, with regulated rate-case progress, unchanged 2026–2027 EPS outlook, and a strategic push to redomicile to the U.S.· August 7, 2026
- Adjusted net earnings were $29.2 million in Q2 2026 versus $33.6 million a year ago; adjusted net EPS was $0.04, flat year over year.
- GAAP net earnings were $4.9 million, down from $14.8 million in Q2 2025; year-to-date adjusted net earnings were $128.8 million versus $142.6 million.
- Management said the 2026 adjusted EPS forecast is unchanged and the company remains on track for 2026 and 2027.
- Regulatory momentum was a major theme: Missouri, Kansas and California water cases moved forward, with additional filings made in New York, Arkansas, EnergyNorth and Arizona.
- The company outlined a U.S. redomicile plan, saying it could reduce tax friction, broaden capital access and support index inclusion, with a shareholder vote targeted for the first half of 2027.
Q2 2026 reported GAAP net earnings were $4.9 million versus $14.8 million in Q2 2025. Q2 2026 adjusted net earnings were $29.2 million versus $33.6 million, and adjusted net EPS was $0.04 per share, flat year over year. Year-to-date GAAP net earnings were $88 million versus $107.6 million, while year-to-date adjusted net earnings were $128.8 million versus $142.6 million. The quarter included a $17.2 million write-down of a regulatory asset tied to the California WEMA proceeding; management said the proposed decision authorizes 75% recovery of wildfire costs and that impact was excluded from adjusted EPS. Driver-wise, CalPeco approved rates added $12.1 million but were partly offset by $5.7 million of higher wildfire insurance expense, $9.3 million of higher interest expense, and $3.3 million of higher operating expenses. For the balance sheet, the company raised about $1.15 billion at Liberty Utilities Company and used the proceeds to repay $1.15 billion of maturities at Algonquin on June 15. Guidance was unchanged: management said it remains on track to meet adjusted net EPS forecasts for 2026 and 2027, does not expect to issue equity through 2027, and expects to stay above the S&P FFO-to-debt downgrade threshold.
Rod West framed the quarter as another step toward becoming a “premier, pure-play, regulated utility,” emphasizing consistent execution, constructive regulation and disciplined financial management. He highlighted progress on several rate cases, the Missouri CCN for the 250 MW gas-fired generation project, and the company’s U.S. redomicile plan as a strategic move to better align structure with assets and reduce tax friction. His tone was confident but still measured, repeatedly noting there is more work to do.
Robert Stefani said Q2 adjusted net EPS was $0.04 and described the quarter’s variance mainly as higher rates being offset by higher financing costs, slightly higher operating expenses and prior-year favorable items. He cited $12.1 million of higher CalPeco approved rates, $5.7 million of wildfire insurance expense, $9.3 million of higher interest expense and $3.3 million of higher gas safety and excellence costs; he also noted the $17.2 million WEMA write-down. On capital structure, he said the company raised approximately $1.15 billion in senior unsecured notes and used the proceeds to repay $1.15 billion of maturing notes, and reiterated no equity is expected through 2027. On the redomicile, he quantified recurring tax savings from eliminating a roughly 5% dividend cash tax and a roughly 10% BEAT tax, estimating about 2 to 2.5 cents of run-rate EPS impact, with 2028 expected to be the more fully run-rate year if approved.
Analysts focused heavily on the U.S. redomicile, asking about IRS timing, tax implications, one-time exit costs and required regulatory approvals. Management said it filed for a private letter ruling with the IRS, expects a response in the back half of the year, and will pursue regulatory filings in jurisdictions including Arizona, California, Georgia, Iowa, Illinois, New York, Texas and New Brunswick. They declined to disclose the one-time tax cost range or specific customer pipeline details for Missouri large-load opportunities, but said the company is putting more resources behind the large-load tariff and expects to file it in the coming weeks, if not days.
The call showed broad regulatory progress, with rate cases or settlements advancing in Missouri, Kansas and California water, plus new filings that could support future earnings. Management also sounded optimistic that the U.S. redomicile could create recurring tax savings, improve capital access and potentially unlock index inclusion over time.
Earnings were down year over year, pressured by wildfire insurance expense, higher interest expense, higher operating costs and the California WEMA write-down. The redomicile still faces IRS, tax, court and regulatory steps, while management also acknowledged ongoing uncertainty in pending cases such as WEMA, Litchfield Park and future large-load demand in Missouri.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 99.9%
- Shares Outstanding
- 769.67M
- Float Shares
- 768.77M
of shares held by institutions
258 13F filers
Congressional trading
Senate and House stock disclosures for AQN, newest first.
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Edgepoint Investment Group Inc. | 88.37M | ▲ 6.90M |
| Starboard Value LP | 57.19M | 0 |
| Fil Ltd | 39.33M | ▲ 1.22M |
| Vanguard Group Inc | 34.46M | ▲ 711.57K |
| Vanguard Capital Management LLC | 22.52M | ▲ 146.59K |
| Bank Of Montreal /Can/ | 20.66M | ▲ 499.66K |
| Mitsubishi Ufj Trust & Banking Corp | 14.82M | ▲ 2.17M |
| British Columbia Investment Management Corp | 13.58M | ▲ 264.96K |
| Clearbridge Investments, LLC | 13.50M | ▲ 660.70K |
| Royal Bank Of Canada | 12.14M | ▼ 8.41M |
| Principal Financial Group Inc | 11.57M | ▼ 2.07M |
| Morgan Stanley | 11.36M | ▲ 4.27M |
Held by 81 ETFs
Biggest fund positions in AQN by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| May 20, 25 | Molinelli Gavin | other | 0 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our AQN coverage
Recent articles, reports, and earnings notes.

Algonquin Power & Utilities (AQN): Regulated Reset, Still Levered
Algonquin Power & Utilities has simplified its business and is showing an operating recovery, but heavy debt and negative free cash flow keep the stock in Hold territory.

Algonquin Power & Utilities Corp. (AQN) slips on Q2 miss
Algonquin Power & Utilities Corp. (AQN) slips after a modest Q2 EPS miss, even as revenue matched estimates. This deep-dive looks beyond the headline to the drivers behind adjusted earnings, regulatory write-downs, wildfire costs, and rising interest expense, plus what management says about the 2026-2027 outlook.

Algonquin Power & Utilities Corp. (AQN) slips on earnings misses
Algonquin Power & Utilities Corp. (AQN) slips 0.5% after reporting earnings misses, as investors react to weaker-than-expected results and pressure on the utility stock.
Want a deeper read on AQN?
Generate a full analyst-grade report — bull/bear case, price targets, valuation depth, and a complete financial breakdown.
Algonquin Power & Utilities Corp. $AQN Shares Sold by Cetera Investment Advisers
defenseworld.net · Aug 19
Algonquin Power: Q2 2026 Shows The Potential Upside
seekingalpha.com · Aug 8
Algonquin Power & Utilities Q2 Earnings Call Highlights
marketbeat.com · Aug 7
Algonquin Power & Utilities (AQN) Misses Q2 Earnings and Revenue Estimates
zacks.com · Aug 7
Algonquin Power & Utilities Corp. Declares Third Quarter 2026 Common Share Dividend of U.S.$0.0650 (C$0.0912), and Declares Third Quarter 2026 Preferred Share Dividends
businesswire.com · Aug 7
Algonquin Power & Utilities Corp. Reports Second Quarter 2026 Financial Results
businesswire.com · Aug 7
Algonquin Power & Utilities Corp. Announces Date for Second Quarter 2026 Financial Results and Conference Call
businesswire.com · Jul 31
Algonquin Power & Utilities: Unloved And Undervalued With Potential To Re-Rate
seekingalpha.com · Jul 28
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
AI analysis · Last refreshed August 15, 2026 · Live quote · Not investment advice