Algonquin Power & Utilities Corp., through its subsidiaries, owns and operates a portfolio of regulated and non-regulated generation, distribution, and transmission utility assets in Canada, the United States, Chile, and Bermuda. It generates and sells electrical energy through non-regulated renewable and clean energy power generation facilities. The company also owns and operates hydroelectric, wind, solar, and thermal facilities with generating capacity of approximately 2.1 gigawatt; and regulated electric, natural gas, water distribution, and wastewater collection utility systems. It serves approximately 306,000 electric connections; 371,000 natural gas connections; and 409,000 regulated water distribution and wastewater collection utility systems in the states of California, New Hampshire, Missouri, Kansas, Oklahoma, Arkansas, Georgia, Illinois, Iowa, Massachusetts, New York, Arizona, Texas, and the Province of New Brunswick. The company was incorporated in 1988 and is headquartered in Oakville, Canada.
IPO Year: 2016
Exchange: NYSE
Website: algonquinpower.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/5/2024 | Neutral | Janney | |
| 8/12/2024 | Outperform → Mkt Perform | Raymond James | |
| 8/12/2024 | $8.50 → $6.00 | Overweight → Equal Weight | Wells Fargo |
| 3/11/2024 | Sell → Hold | Desjardins | |
| 1/8/2024 | $7.00 → $7.50 | Market Perform → Outperform | BMO Capital Markets |
| 4/18/2023 | $9.00 → $8.50 | Buy → Neutral | BofA Securities |
| 4/17/2023 | $17.00 → $10.00 | Sector Outperform → Neutral | CIBC |
| 2/16/2023 | $7.00 → $9.00 | Underperform → Buy | BofA Securities |
| 1/13/2023 | Hold → Sell | Desjardins | |
| 1/5/2023 | Equal Weight → Overweight | Wells Fargo |
Making progress in strategic transition to regulated utility OAKVILLE, ON, Nov. 7, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. (TSX:AQN) (NYSE:AQN) ("AQN" or the "Company") announced today financial results for the third quarter ended September 30, 2024. All amounts are shown in United States dollars ("U.S. $" or "$"), unless otherwise noted. "We continue to hit key milestones on our journey towards a simpler and more focused regulated business," said Chris Huskilson, Chief Executive Officer of AQN. "These successes include the announced sales of our renewables busin
OAKVILLE, ON, Nov. 7, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN") (TSX:AQN) (TSX:AQN) (TSX:AQN) (NYSE:AQN) announced today that its board of directors has approved and declared the following common and preferred share dividends: US$0.0650 per common share, payable on January 15, 2025, to the shareholders of record on December 31, 2024, for the period from October 1, 2024 to December 31, 2024. Registered shareholders can elect to receive the dividend in Canadian dollars in the amount of C$0.0901.C$0.41100 per preferred share, Series A, payable in cash on Decem
OAKVILLE, ON, Oct. 11, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. (TSX:AQN) (NYSE:AQN) ("AQN") today announced plans to release its third quarter 2024 financial results on Thursday, November 7, 2024, before market open. AQN will hold an earnings conference call at 10:00 a.m. eastern time on Thursday, November 7, 2024, hosted by Chief Executive Officer, Chris Huskilson, and Chief Financial Officer, Darren Myers. Conference call details are as follows: Date: Thursday, November 7, 2024 Time: 10:00 a.m. ET Conference Call: Toll Free Dial-In Number 1 (800) 715-9871 Toll
NEW YORK, Aug. 9, 2024 /PRNewswire/ -- LS Power, a leading development, investment and operating company focused on the North American power and energy infrastructure sector, today announced it has reached an agreement with Algonquin Power & Utilities Corp. (NYSE:AQN) ("AQN") to acquire its renewable energy business (the "Renewables Business"). The Renewables Business is comprised largely of wind and solar assets located throughout the United States and Canada, including 44 operating assets with more than 3,000 megawatts (MW) of generating capacity and an 8,000 MW pipeline of
NEW YORK, Aug. 9, 2024 /PRNewswire/ -- LS Power, a leading development, investment and operating company focused on the North American power and energy infrastructure sector, today announced it has reached an agreement with Algonquin Power & Utilities Corp. (NYSE:AQN) ("AQN") to acquire its renewable energy business (the "Renewables Business"). The Renewables Business is comprised largely of wind and solar assets located throughout the United States and Canada, including 44 operating assets with more than 3,000 megawatts (MW) of generating capacity and an 8,000 MW pipeline of wind, solar, battery energy storage and renewable natural gas projects in various stages of development. Approximat
OAKVILLE, ON, Aug. 9, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN" or the "Company") (TSX:AQN) (TSX:AQN) (TSX:AQN) (NYSE:AQN) announced today that the board of directors has declared the following common and preferred share dividends: US$0.0650 per common share, payable on October 15, 2024, to the shareholders of record on September 30, 2024, for the period from July 1, 2024 to September 30, 2024. Registered shareholders can elect to receive the dividend in Canadian dollars in the amount of C$0.0893.C$0.41100 per preferred share, Series A, payable on October 1
Continuing Ongoing Strategic Transition to a Pure-Play Regulated Utility Company to Hold Second Quarter Earnings Conference Call at 8:30 am E.T. OAKVILLE, ON, Aug. 9, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. (TSX:AQN) (NYSE:AQN) ("AQN" or the "Company") announced today financial results for the second quarter ended June 30, 2024. All amounts are shown in United States dollars ("U.S. $" or "$"), unless otherwise noted. "In the second quarter we continued to make significant progress on our path towards a pure play regulated utility, which we expect to enable us to
Transaction Unlocks AQN's Value as a Pure-Play Regulated Utility Proceeds Expected to Recapitalize Balance Sheet and Position Company for Future Growth Company to Hold Second Quarter Earnings Conference Call at 8:30 am E.T. OAKVILLE, ON, Aug. 9, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. (NYSE:AQN) ("AQN" or the "Company") announced today that it has entered into a definitive agreement to sell its renewable energy business (excluding hydro) to a wholly-owned subsidiary of LS Power (the "Buyer") for total consideration of up to $2.5 billion. All amounts are shown in United States Dollars.
OAKVILLE, ON, July 12, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. (TSX:AQN) (NYSE:AQN) ("AQN") today announced plans to release its second quarter 2024 financial results on Friday, August 9, 2024, before market open. AQN will hold an earnings conference call at 8:30 a.m. eastern time on Friday, August 9, 2024, hosted by Chief Executive Officer, Chris Huskilson, and Chief Financial Officer, Darren Myers. Conference call details are as follows: Date: Friday, August 9, 2024 Time: 8:30 a.m. ET Conference Call: Toll Free Dial-In Number 1 (800) 715-9871 Toll Dial-In Numb
OAKVILLE, ON, June 13, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. (TSX:AQN) (NYSE:AQN) ("AQN" or the "Company") today announced the settlement rate for the share purchase contracts that are components of its outstanding corporate units (the "Corporate Units") issued in June 2021. Holders of Corporate Units will receive 3.3439 common shares of AQN ("Common Shares") for each share purchase contract they hold, which results in an effective issuance price of $14.9526 per Common Share, with cash to be paid in lieu of any fractional shares. The settlement rate is based upon the average volume-weighted average price of the Common Shares on the New York Stock Exchange for the 20 consecuti
Janney initiated coverage of Algonquin Power & Utilities with a rating of Neutral
Raymond James downgraded Algonquin Power & Utilities from Outperform to Mkt Perform
Wells Fargo downgraded Algonquin Power & Utilities from Overweight to Equal Weight and set a new price target of $6.00 from $8.50 previously
Desjardins upgraded Algonquin Power & Utilities from Sell to Hold
BMO Capital Markets upgraded Algonquin Power & Utilities from Market Perform to Outperform and set a new price target of $7.50 from $7.00 previously
BofA Securities downgraded Algonquin Power & Utilities from Buy to Neutral and set a new price target of $8.50 from $9.00 previously
CIBC downgraded Algonquin Power & Utilities from Sector Outperform to Neutral and set a new price target of $10.00 from $17.00 previously
BofA Securities upgraded Algonquin Power & Utilities from Underperform to Buy and set a new price target of $9.00 from $7.00 previously
Desjardins downgraded Algonquin Power & Utilities from Hold to Sell
Wells Fargo upgraded Algonquin Power & Utilities from Equal Weight to Overweight
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Making progress in strategic transition to regulated utility OAKVILLE, ON, Nov. 7, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. (TSX:AQN) (NYSE:AQN) ("AQN" or the "Company") announced today financial results for the third quarter ended September 30, 2024. All amounts are shown in United States dollars ("U.S. $" or "$"), unless otherwise noted. "We continue to hit key milestones on our journey towards a simpler and more focused regulated business," said Chris Huskilson, Chief Executive Officer of AQN. "These successes include the announced sales of our renewables busin
OAKVILLE, ON, Nov. 7, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN") (TSX:AQN) (TSX:AQN) (TSX:AQN) (NYSE:AQN) announced today that its board of directors has approved and declared the following common and preferred share dividends: US$0.0650 per common share, payable on January 15, 2025, to the shareholders of record on December 31, 2024, for the period from October 1, 2024 to December 31, 2024. Registered shareholders can elect to receive the dividend in Canadian dollars in the amount of C$0.0901.C$0.41100 per preferred share, Series A, payable in cash on Decem
OAKVILLE, ON, Oct. 11, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. (TSX:AQN) (NYSE:AQN) ("AQN") today announced plans to release its third quarter 2024 financial results on Thursday, November 7, 2024, before market open. AQN will hold an earnings conference call at 10:00 a.m. eastern time on Thursday, November 7, 2024, hosted by Chief Executive Officer, Chris Huskilson, and Chief Financial Officer, Darren Myers. Conference call details are as follows: Date: Thursday, November 7, 2024 Time: 10:00 a.m. ET Conference Call: Toll Free Dial-In Number 1 (800) 715-9871 Toll
OAKVILLE, ON, Aug. 9, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN" or the "Company") (TSX:AQN) (TSX:AQN) (TSX:AQN) (NYSE:AQN) announced today that the board of directors has declared the following common and preferred share dividends: US$0.0650 per common share, payable on October 15, 2024, to the shareholders of record on September 30, 2024, for the period from July 1, 2024 to September 30, 2024. Registered shareholders can elect to receive the dividend in Canadian dollars in the amount of C$0.0893.C$0.41100 per preferred share, Series A, payable on October 1
Continuing Ongoing Strategic Transition to a Pure-Play Regulated Utility Company to Hold Second Quarter Earnings Conference Call at 8:30 am E.T. OAKVILLE, ON, Aug. 9, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. (TSX:AQN) (NYSE:AQN) ("AQN" or the "Company") announced today financial results for the second quarter ended June 30, 2024. All amounts are shown in United States dollars ("U.S. $" or "$"), unless otherwise noted. "In the second quarter we continued to make significant progress on our path towards a pure play regulated utility, which we expect to enable us to
Transaction Unlocks AQN's Value as a Pure-Play Regulated Utility Proceeds Expected to Recapitalize Balance Sheet and Position Company for Future Growth Company to Hold Second Quarter Earnings Conference Call at 8:30 am E.T. OAKVILLE, ON, Aug. 9, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. (NYSE:AQN) ("AQN" or the "Company") announced today that it has entered into a definitive agreement to sell its renewable energy business (excluding hydro) to a wholly-owned subsidiary of LS Power (the "Buyer") for total consideration of up to $2.5 billion. All amounts are shown in United States Dollars.
OAKVILLE, ON, July 12, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. (TSX:AQN) (NYSE:AQN) ("AQN") today announced plans to release its second quarter 2024 financial results on Friday, August 9, 2024, before market open. AQN will hold an earnings conference call at 8:30 a.m. eastern time on Friday, August 9, 2024, hosted by Chief Executive Officer, Chris Huskilson, and Chief Financial Officer, Darren Myers. Conference call details are as follows: Date: Friday, August 9, 2024 Time: 8:30 a.m. ET Conference Call: Toll Free Dial-In Number 1 (800) 715-9871 Toll Dial-In Numb
Chris Huskilson appointed Chief Executive Officer OAKVILLE, ON, May 10, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. (TSX:AQN) (NYSE:AQN) ("AQN" or the "Company") announced today that the Board of Directors has appointed Chris Huskilson as Chief Executive Officer with immediate effect. Mr. Huskilson, who has been Interim CEO since August 2023, will continue as a member of the Board. Mr. Huskilson's CEO appointment has been made following a thorough search conducted by the Board with the support of a nationally recognized search firm. Kenneth Moore, the Chair of the B
OAKVILLE, ON, May 10, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN") (TSX:AQN) (TSX:AQN) (TSX:AQN) (NYSE:AQN) announced today that its board of directors has approved and declared the following common and preferred share dividends: US$0.1085 per common share, payable on July 15, 2024, to the shareholders of record on June 28, 2024, for the period from April 1, 2024 to June 30, 2024. Registered shareholders can elect to receive the dividend in Canadian dollars in the amount of C$0.1490.C$0.41100 per preferred share, Series A, payable in cash on July 2, 2024 to p
OAKVILLE, ON, April 10, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. (TSX:AQN) (NYSE:AQN) ("AQN") today announced plans to release its first quarter 2024 financial results on Friday, May 10, 2024, before market open. AQN will hold an earnings conference call at 8:30 a.m. eastern time on Friday, May 10, 2024, hosted by Interim Chief Executive Officer, Chris Huskilson, and Chief Financial Officer, Darren Myers. Conference call details are as follows: Date: Friday, May 10, 2024 Time: 8:30 a.m. ET Conference Call: Toll Free Dial-In Number 1 (800) 715-9871 Toll Dial-In Nu
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OAKVILLE, ON, June 4, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN" or the "Company") (TSX:AQN) (NYSE:AQN) today held an annual meeting of common shareholders. At the meeting, each of the following nine nominees listed in the Company's management information circular dated April 18, 2024 were elected as directors of AQN pursuant to a vote by ballot: Nominee Votes For % For Votes Against % Against Melissa Stapleton Barnes 330,041,306 97.05 % 10,016,318 2.95 % Brett Carter 337,316,968 99.19 % 2,740,656 0.81 % Amee Chande 334,451,144 98.39 % 5,473,034 1.61 % Danie
Starboard Value LP (together with its affiliates, "Starboard" or "we") is the largest shareholder of Algonquin Power & Utilities Corp. (NYSE:AQN) (TSE: AQN) ("Algonquin" or the "Company") with an ownership stake of approximately 9.0%. Today, Starboard announced that it has nominated three highly qualified candidates (the "Starboard Nominees") for election to the Company's Board of Directors (the "Board") at the 2024 Annual General Meeting of Shareholders (the "Annual Meeting"), which has been scheduled for June 4, 2024. The Starboard Nominees are Brett Carter, Chris Lopez and Rob Schriesheim. In connection with its nominations, Starboard sent the below letter to the members of the Board.
Private equity veteran David Levenson joins Board of Directors OAKVILLE, ON, Feb. 2, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN" or the "Company") (TSX:AQN) (NYSE:AQN) today announced its Board of Directors (the "Board") has appointed David Levenson, formerly Managing Partner at Brookfield Asset Management, to the Board, effective immediately. Following Mr. Levenson's appointment, the Board is comprised of nine directors, eight of whom are independent for the purposes of Canadian securities laws and New York Stock Exchange corporate governance standards. "We w
OAKVILLE, ON, June 20, 2023 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN" or the "Company") (TSX:AQN) (NYSE:AQN) today held an annual meeting of common shareholders. At the meeting, all of the nominees listed in the Company's management information circular dated April 27, 2023 were elected as directors of AQN until the next annual meeting of shareholders. On a vote by ballot, each of the following nine nominees proposed by management was elected as a director of AQN. The results of the ballot were as follows: Nominee Votes For % For Votes Against % Against Arun Bans
OAKVILLE, ON, June 2, 2022 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN" or the "Company") (TSX:AQN) (NYSE:AQN) today held a virtual annual meeting of common shareholders. At the meeting, all of the nominees listed in the Company's management information circular dated April 14, 2022 were elected as directors of AQN until the next annual meeting of shareholders. Those elected include new nominee Amee Chande, who brings significant experience to the Company's board given her background as a corporate director, strategy consultant, and senior advisor to leading companies in the mobility sector. Ms. Chande has also been appointed as a member of the Company's Audit Committee and Corpor
OAKVILLE, ON, March 30, 2022 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN" or "Algonquin" or "the Company") (TSX:AQN) (NYSE:AQN) announced today the appointment of Dan Goldberg to its Board of Directors. Concurrently, Mr. Goldberg has been appointed to the Company's Corporate Governance Committee and Human Resources and Compensation Committee. "We are very pleased to welcome Dan to our Board, and to further enhance our corporate governance with the addition of his extensive experience and knowledge," said Ken Moore, Chair of the Board of Directors of AQN. "Throughout his career, Dan has held various senior executive roles in operations, legal and governance functions, providing him
OAKVILLE, ON, June 3, 2021 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN" or the "Company") (TSX: AQN) (NYSE: AQN) today held a virtual annual meeting of common shareholders. At the meeting, all of the nominees listed in the Company's management information circular dated April 15, 2021 were elected as directors of AQN until the next annual meeting of shareholders. The detailed voting results for the election of directors are set out below. On a vote by ballot, each of the following nine nominees proposed by management was elected as a director of AQN. The results of the ballot were as follows: Nominee Votes For % For Votes Withheld % Withheld Christopher Ball 263,756,
OAKVILLE, ON, March 30, 2021 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN" or "Algonquin" or "the Company") (TSX: AQN) (NYSE: AQN) announced today the appointment of Carol Leaman to its Board of Directors. "We are very pleased to continue to expand the skills and diversity of our Board with the addition of Carol, who brings with her a wealth of experience in the entrepreneurial technology space," said Ken Moore, Chair of the Board of Directors of Algonquin. "Ensuring our Board consists of diverse perspectives and experiences is key to our ongoing success. We expect Carol will be a great asset to the Board and look forward to the contributions she will make." Carol Leaman, is Presi
RBC Capital analyst Nelson Ng reiterates Algonquin Power (NYSE:AQN) with a Sector Perform and maintains $7 price target.
Wells Fargo analyst Neil Kalton maintains Algonquin Power (NYSE:AQN) with a Overweight and raises the price target from $8 to $8.5.
Algonquin Power & Utilities Corp. (TSX:AQN) (NYSE:AQN) ("AQN" or the "Company") announced today that the Board of Directors has appointed Chris Huskilson as Chief Executive Officer with immediate effect. Mr. Huskilson, who has been Interim CEO since August 2023, will continue as a member of the Board. Mr. Huskilson's CEO appointment has been made following a thorough search conducted by the Board with the support of a nationally recognized search firm.
Algonquin Power (NYSE:AQN) reported quarterly earnings of $0.14 per share which missed the analyst consensus estimate of $0.15 by 6.67 percent. This is a 17.65 percent decrease over earnings of $0.17 per share from the same period last year. The company reported quarterly sales of $737.100 million which missed the analyst consensus estimate of $807.000 million by 8.66 percent. This is a 5.33 percent decrease over sales of $778.600 million the same period last year.
Scotiabank maintains Algonquin Power (NYSE:AQN) with a Sector Perform and lowers the price target from $7.5 to $6.5.
Masheed Saidi had advised the Board that she does not intend to stand for reelection. In addition, Kenneth Moore, the Chair of the Board, has informed the Board of his intention to retire effective as of the Annual Meeting and he will therefore not stand for reelection. As a result, following the Annual Meeting, Algonquin's Board will continue to be comprised of nine directors. Starboard Value LP, which own approximately 9.0% of Algonquin's outstanding common shares, has withdrawn its previously-announced director nominations for election and agreed to support the Company's nominees for election at the Annual Meeting. Starboard and the Company have also entered into a non-disclosure agree
Algonquin sais it maintains open communications with its shareholders and appreciates constructive input that advances its goal of enhancing shareholder value.
Starboard Value LP holds ownership stake of approximately 9.0% in Algonquin Power & Utilities. The Starboard Nominees are Brett Carter, Chris Lopez and Rob Schriesheim.
TD Securities analyst Sean Steuart maintains Algonquin Power (NYSE:AQN) with a Hold and raises the price target from $6 to $6.5.