Algonquin Power & Utilities Corp.

NYSE:AQN Stock Report

Market Cap: US$4.3b

Algonquin Power & Utilities Management

Management criteria checks 1/4

Algonquin Power & Utilities' CEO is Rod West, appointed in Mar 2025, has a tenure of 1.33 years. total yearly compensation is $5.55M, comprised of 12.9% salary and 87.1% bonuses, including company stock and options. directly owns 0.012% of the company’s shares, worth $502.49K. The average tenure of the management team and the board of directors is 0.8 years and 2.3 years respectively.

Key information

Rod West

Chief executive officer

US$5.6m

Total compensation

CEO salary percentage12.86%
CEO tenure1.3yrs
CEO ownership0.01%
Management average tenureless than a year
Board average tenure2.3yrs

Recent management updates

Recent updates

Seeking Alpha • May 13

Algonquin Power: Updating For 2026 With An Upside

Summary Algonquin Power & Utilities Corp. is rated 'Buy' with a $6.50/share price target, reflecting attractive valuation and improving fundamentals. AQN's shift from renewables to a pure regulated utility lowers risk, boosts cash flow visibility, and supports a well-covered 4.45% dividend yield. Recent rate case successes, strong Q1 results, and proactive debt refinancing enhance AQN's stability and growth outlook. Despite limited organic growth, AQN offers 11-17% annualized upside potential, with risk/reward skewed favorably at the current valuation. Read the full article on Seeking Alpha
Seeking Alpha • Mar 22

This Forgotten Utility Is Transforming Before Your Eyes: Algonquin Power

Summary Algonquin Power & Utilities Corp. has torn the company in half, removing the underperforming and over-leveraged non-regulated side of the business. This half generated all the prior excitement but led to the recent calamity. The new CEO needs time to set a clear vision for the company. Read the full article on Seeking Alpha
Seeking Alpha • Jan 22

Algonquin Power: A Failed Investment Thesis, Updated For 2025-2027E

Summary Algonquin Power has significantly underperformed, with a 50% decline in my small position, but its valuation shows potential upside if held long-term. The company's shift from renewables to a pure-play regulated utility, driven by asset sales, aims to stabilize and de-risk its operations. Despite a 4% yield and a BBB rating, better-valued peers like Enel offer higher stability, yield, and upside, making AQN less attractive. I rate AQN a conservative "Buy" with a $9/share target, emphasizing that asset sales and restructuring are critical for future performance. Read the full article on Seeking Alpha
Seeking Alpha • Oct 27

Algonquin Power: Has Growth Potential, But Patience Will Be Needed

Summary Algonquin is divesting renewable assets to focus on regulated services, aiming for stable profits and dividends. The company’s regulated services are under-earning but expected to improve with new rate approvals, particularly in New York and Bermuda. Algonquin’s financial leverage will decline post-renewables separation, aided by recent dividend cuts. Despite challenges, Algonquin is undervalued, with potential equity growth from pending rate cases and improved operating profits. Read the full article on Seeking Alpha
Seeking Alpha • Sep 13

Algonquin Power: On The Right Track, But EPS Pressure Ahead

Summary Algonquin Power's quality assets and well-equipped personnel are overshadowed by its significant debt challenges and low return on assets. The company's financial struggles stem from its founder's accumulation of low-margin power supply contracts without price escalators. The Fed's interest rate hikes are a symptom, not the cause, of AQN's troubles. Moving forward, the critical question is how Algonquin Power can navigate its current financial predicament. Read the full article on Seeking Alpha
Seeking Alpha • Jun 19

Get Paid 7.5% From This Forgotten Utility: Algonquin Power

Summary Algonquin is in the midst of a transformation for the better. It has fallen from grace and sports a 7.5% yield and discounted valuations vs peers. We examine its outlook to see if buying now is worthwhile. Read the full article on Seeking Alpha
Seeking Alpha • Jan 26

Algonquin: Searching For Value After The Collapse, 7.1% Dividend Yield

Summary Algonquin is looking to divest its renewable energy group to address debt and keep its investment-grade credit rating. The utility is currently paying out a 7.1% dividend yield that's 224% covered by adjusted FFO realized during its most recent quarter. A sale of its 42% stake in Atlantica Sustainable Infrastructure would have to be completed against poor stock market conditions for renewables. Read the full article on Seeking Alpha
Seeking Alpha • Nov 26

Algonquin Power's Valuation Gap: Uncovering The Investment Potential

Summary Algonquin Power & Utilities Corp. trades at a discount to utility peers with a solid portfolio of generating assets. The company is focused on simplifying and streamlining its operations. Algonquin is selling its renewable energy business to capture the valuation uplift and secure future investment grade bond ratings. Read the full article on Seeking Alpha
Seeking Alpha • Oct 03

Algonquin: Billionaire Says Observe Carefully When The Tide Goes Out

Summary Algonquin Power & Utilities Corp. has faced challenges due to high debt and poor capital allocation policy. Valuation entered a buy-zone in the last few days. We go over expected returns and tell you why the 9.6% yield on the preferred shares can be an attractive alternative. Read the full article on Seeking Alpha
Seeking Alpha • Aug 22

Algonquin: Battered By High-Interest Rates, A Strategy Shift Might Be The Answer

Summary Algonquin Power faces challenges from higher interest rates, which resulted in a 40% dividend reduction. The attempted acquisition of Kentucky Power raised regulatory concerns and was canceled due to potential debt escalations. AQN's strategic response involves selling its Renewable Energy Segment to boost financial flexibility. Key risks include regulatory changes, dilution, and influence from activist investors, potentially hastening decisions. Lower interest rates could alleviate financial pressure, allowing AQN to focus on dividends, buybacks, and growth initiatives. Read the full article on Seeking Alpha
Seeking Alpha • Aug 14

Algonquin: More Challenges Than Upside

Summary AQN's strategic review has resulted in a decision to seek a buyer for its renewable energy segment, driven by the company's precarious financial status. Even after a re-rating of its remaining regulated operations in-line with peers, the company shares do not appear undervalued. I rate AQN shares an avoid. Even if shares do not appear overvalued, investors should look elsewhere or wait for a significantly better entry point. Read the full article on Seeking Alpha
Seeking Alpha • Jul 06

Algonquin: Why We Think It's A "Hold" At Best

Summary Algonquin Power & Utilities' stock has declined by 38% in the last 12 months, partly due to a 40% cut in its dividend in March. The company's higher cost of capital due to increased interest rates has impacted its performance, with interest expenses jumping by $84.2 million (or 40%) from 2021 to 2022. Despite a 6% increase in Q1 2023 revenue, adjusted earnings declined 15% to $119.9 million, indicating higher operating costs, including interest expenses. Because there are higher-quality utilities out there, we rate Algonquin as a "Hold". Read the full article on Seeking Alpha

CEO Compensation Analysis

How has Rod West's remuneration changed compared to Algonquin Power & Utilities's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

US$198m

Dec 31 2025US$6mUS$714k

US$208m

Compensation vs Market: Rod's total compensation ($USD5.55M) is about average for companies of similar size in the US market ($USD6.91M).

Compensation vs Earnings: Insufficient data to compare Rod's compensation with company performance.

CEO

Rod West (57 yo)

1.3yrs
Tenure
US$5,552,907
Compensation

Mr. Roderick K. West, also known as Rod, is Chief Executive Officer of Algonquin Power & Utilities Corp. from March 7, 2025 and serves as its Director since March 13, 2025. Mr. West was Group President of...

Leadership Team

NamePositionTenureCompensationOwnership
Roderick West
CEO & Director1.3yrsUS$5.55m0.012%
$ 502.5k
Brian Chin
Vice President of Investor Relationsno dataUS$826.97kno data
Jennifer Tindale
Chief Legal Officer9.4yrsUS$2.06m0.016%
$ 697.5k
Robert Stefani
Chief Financial Officerless than a yearno datano data
Peter Norgeot
Chief Operating Officerless than a yearno data0.014%
$ 608.5k
Stephanie Bose
Senior Director of Corporate Communicationsno datano datano data
Kristin von Fischer
Chief Human Resources Officerless than a yearno datano data
Amy Walt
Chief Customer Officer1.1yrsno datano data
Ryan Elger
Corporate Secretaryno datano datano data
Jane Tran
Senior Director of Legal and Business Affairsno datano datano data
Alison Holditch
Investor Relations Officerno datano datano data
0.8yrs
Average Tenure
54yo
Average Age

Experienced Management: AQN's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.

Board Members

NamePositionTenureCompensationOwnership
Roderick West
CEO & Director1.3yrsUS$5.55m0.012%
$ 502.5k
D. Laney
Independent Chair of the Board9.4yrsUS$342.04k0.0041%
$ 173.3k
Dilek Samil
Independent Director11.8yrsUS$271.09kno data
Brett C. Carter
Independent Director2.3yrsUS$263.94k0.00027%
$ 11.5k
Gavin Molinelli
Independent Director1.2yrsUS$153.64kno data
Amee Chande
Independent Director4.1yrsUS$266.02k0.0033%
$ 142.2k
Christopher Lopez
Independent Director2.1yrsUS$250.82k0.00037%
$ 15.8k
David Levenson
Independent Director2.4yrsUS$243.25k0.0081%
$ 343.2k
DeAnn Walker
Independent Director1.1yrsUS$143.63kno data
2.3yrs
Average Tenure
57yo
Average Age

Experienced Board: AQN's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/06 02:00
End of Day Share Price 2026/07/06 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Algonquin Power & Utilities Corp. is covered by 24 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Harshit GuptaAccountability Research Corporation
MacMurray WhaleATB Cormark Historical (Cormark Securities)
Michael LoneganBarclays