Janney Upgrades Algonquin Power Following Strong Performance and Positive Fundamentals
Stock Upgrade: Algonquin Power & Utilities (AQN) shares were upgraded to Buy from Neutral by Janney, with a price target increase to $7, following strong Q3 results that exceeded expectations.
Earnings Performance: Q3 net earnings for Algonquin's Regulated Services unit reached $104.1 million, a 61% year-over-year increase, while adjusted net earnings rose 10% year-over-year to $71.7 million, surpassing analyst estimates.
Upcoming Rate Cases: The company has significant upcoming hearings for its New England Natural Gas rate case in December and for its Litchfield Park case in March 2026, with a combined rate request of approximately $73.6 million.
Leadership Change: Algonquin announced Robert Stefani as the new CFO, effective January 5, after his previous roles at Southwest Gas Holdings and PECO Energy.
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Utility Companies EPS Revision Grades Highlighted Ahead of Earnings Season
- EPS Revision Grades: Artesian Resources, Consolidated Water, and Clearway Energy all received an A+ EPS revision grade, indicating growing market confidence in their near-term performance ahead of earnings season.
- Small-Cap Utility Performance: Hallador Energy and Spire also achieved A+ EPS revision grades, suggesting that these mid- and small-cap utility companies may outperform in the upcoming earnings reports, drawing investor interest.
- Market Confidence Boost: Brookfield Infrastructure and Genie Energy received A grades for their EPS revisions, reflecting analysts' optimistic outlook on their future profitability, which could drive stock prices higher.
- Industry Outlook: Algonquin Power & Utilities and Suburban Propane Partners both earned A grades, indicating that the utility sector may show outperforming results in 2026, attracting more investor attention.

Algonquin Appoints Peter Norgeot as COO, Enhancing Leadership Experience
- Executive Appointment: Algonquin Power & Utilities Corp. has appointed Peter Norgeot as Chief Operating Officer, effective immediately, bringing over 30 years of senior leadership experience in the utility sector, which is expected to enhance the company's operational efficiency and strategic execution capabilities.
- Industry Background: Prior to joining Algonquin, Norgeot served as the Operating Chief at Entergy Corporation, and his extensive industry experience will provide Algonquin with new perspectives and management strategies to maintain its competitive edge in the utility market.
- Market Reaction: Following the announcement, Algonquin's shares traded at $6.10 in pre-market activity on the New York Stock Exchange, down 0.49%, indicating a cautious market response that may affect investor confidence in the company's leadership transition.
- Strategic Implications: This executive change not only strengthens the company's management team but also reflects Algonquin's commitment to enhancing operational efficiency and market competitiveness, aiming to leverage stronger leadership to drive future growth.






