ALGONQUIN POWER AND UTILITIES C (AQN.TO)
Utilities · TOR · Canada
Fundamentals
Valuation and ratings
ALGONQUIN POWER AND UTILITIES C trades at CAD8.59, close to the CAD8.16 our discounted cash flow model puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.
Our moat model scores it 35 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 22.1 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
AQN.TO dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | CAD0.182 | 2 |
| 2025 | CAD0.362 | 4 |
| 2024 | CAD0.477 | 4 |
| 2023 | CAD0.581 | 4 |
| 2022 | CAD0.940 | 4 |
| 2021 | CAD0.838 | 4 |
| 2020 | CAD0.815 | 4 |
| 2019 | CAD0.728 | 4 |
| 2018 | CAD0.663 | 4 |
| 2017 | CAD0.602 | 4 |
| 2016 | CAD0.549 | 4 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
AQN.TO earnings and analyst estimates
Recommendation mix, 12 analyst ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About ALGONQUIN POWER AND UTILITIES C
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. As of December 31, 2025, it operated a portfolio of regulated utility systems in the United States, Canada, Bermuda, and Chile, serving approximately 1,272,000 customer connections. Its regulated electrical distribution utility systems and related transmission and generation assets are located in the states of Arkansas, California, Kansas, Missouri, Nevada, New Hampshire, and Oklahoma, as well as in Bermuda with approximately 311,000 electric customer connections. Its regulated water distribution and wastewater utility systems are located in the states of Arizona, Arkansas, California, Illinois, Missouri, New York, and Texas, as well as in Chile with approximately 583,000 customer connections. It's regulated natural gas distribution utility systems are located in the states of Georgia, Illinois, Iowa, Massachusetts, Missouri, New Hampshire, and New York; and in the Canadian province of New Brunswick with approximately 378,000 natural gas customer connections. It also owns and operates generating assets with a gross capacity of approximately 2.0 gigawatt (GW) and has investments in generating assets with approximately 0.3 GW of net generation capacity. It generates and sells hydroelectric energy in Canada, and capacity and renewable attributes are produced by its portfolio of 14 hydroelectric power generation facilities located in the provinces of Alberta, Ontario, New Brunswick, and Quebec. As of December 31, 2025, it had a combined gross generating capacity of approximately 112 megawatts (MW) and a combined net generating capacity of approximately 105 MW. The company was formerly known as Traduction Militech Translation Inc. in October 2009. The company was incorporated in 1988 and is headquartered in Oakville, Canada.
AQN.TO passes 3 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is ALGONQUIN POWER AND UTILITIES C (AQN.TO) undervalued?
Against our discounted cash flow estimate of CAD8.16, AQN.TO at CAD8.59 is 5% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is AQN.TO's P/E ratio?
AQN.TO trades at 22.1 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does ALGONQUIN POWER AND UTILITIES C (AQN.TO) pay a dividend?
Yes. ALGONQUIN POWER AND UTILITIES C yields 4.34% at the current share price. It has paid CAD0.362 per share over the trailing twelve months. It has paid a dividend in each of the last 23 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
The full research page for AQN.TO, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.