Algonquin Power & Utilities Corp.
AQN · NYSE
Company research
Algonquin Power & Utilities Corp. (NYSE: AQN) is a diversified international generation, transmission, and distribution utility headquartered in Oakville, Ontario, Canada, and incorporated in 1988. The company, operating through its Liberty Utilities subsidiary, owns and operates a portfolio of regulated electric, natural gas, water distribution, and wastewater collection utility systems serving approximately 1,272,000 customer connections across the United States, Canada, Bermuda, and Chile. Following a strategic transformation in early 2025, AQN divested its competitive renewable energy development arm for approximately $2.5 billion, evolving into a pure-play regulated utility focused on its Regulated Services Group and Hydro Group segments. In addition to its regulated utility operations, the company owns and operates generating assets with a gross capacity of approximately 2.0 GW, including a portfolio of 14 hydroelectric power generation facilities located across the Canadian provinces of Alberta, Ontario, New Brunswick, and Quebec.
Research reports
Synthesizes the views of five Wall Street analysts, highlighting improving ROE projections and rate-base growth that support a favorable long-term case, while also stressing regulatory risks and a projected dividend-payout ratio above 100% that could pressure the stock and keep its valuation discounted.
Simply Wall St Equity Research Platform · June 23, 2026Algonquin Power & Utilities (TSX:AQN) – StocksConcludes that AQN trades materially below the platform’s fair-value estimate and is forecast to deliver mid-teens annual earnings growth, but flags weak dividend coverage, high leverage, and underperformance versus both the Canadian utilities industry and broader market as key risks that warrant caution.
Cantech Letter (summary Of National Bank Financial Note) · March 10, 2026Algonquin Power is a turnaround story, this analyst saysSummarizes National Bank Financial analyst Baltej Sidhu’s Outperform thesis, emphasizing that AQN is a restructuring-driven turnaround with stronger-than-expected Q4 2025 EPS, improving ROE and leverage, and a US$7.25 price target, while acknowledging tax-driven guidance cuts and fragile investor sentiment.
The Motley Fool Canada · February 2, 2026Is Algonquin Power More Like a Trap Than an Investment?Argues that despite AQN’s low share price, high yield, and repositioning as a pure-play regulated utility, the stock currently resembles a value trap due to prior dividend cuts, a very high payout ratio, balance-sheet strain, and execution risk, making peers such as Fortis and Hydro One more attractive for conservative income investors.
Zacks Equity Research (via Finviz) · August 8, 2025Algonquin Power & Utilities (AQN) Q2 Earnings Meet EstimatesReviews Q2 2025 results, noting EPS matched consensus while revenue slightly missed, and highlights that favorable estimate revisions support a Zacks Rank #2 (Buy) rating, implying expected outperformance as the market digests AQN’s earnings trajectory and sector backdrop.