SCHEDULE 13G: FIL Limited and Affiliates Disclose 5.3% Stake in Algonquin Power & Utilities Corp.

FIL Limited, along with Pandanus Partners, L.P. and Pandanus Associates, Inc., has reported a collective beneficial ownership of 5.3% in Algonquin Power & Utilities Corp.'s common stock as of December 31, 2024.

Summary

• FIL Limited, a Bermuda-based entity, and its affiliates Pandanus Partners, L.P. and Pandanus Associates, Inc., both Delaware entities, have jointly filed a Schedule 13G.
• The filing reports beneficial ownership of 40,886,793 shares of Common Stock in Algonquin Power & Utilities Corp.
• This aggregate amount represents 5.3% of the outstanding class of Algonquin Power & Utilities Corp. common stock.
• FIL Limited holds sole voting power over 40,877,313 shares and sole dispositive power over 40,886,793 shares.
• Pandanus Partners, L.P. and Pandanus Associates, Inc. each hold sole dispositive power over 40,886,793 shares, with no sole or shared voting power.
• The filing indicates that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
• Pandanus Partners, L.P. owns voting stock in FIL Limited, typically representing between 25% and 48.5% of total votes, with Pandanus Associates, Inc. acting as its general partner.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently lead to a positive or negative sentiment. It is a routine regulatory filing.

Future Outlook

NA

Industry Context

This Schedule 13G filing indicates a significant institutional ownership stake by FIL Limited and its affiliates in Algonquin Power & Utilities Corp., a utility company. Such filings are standard disclosures for large investors crossing specific ownership thresholds and do not inherently reflect broader industry trends beyond demonstrating continued institutional interest in the utilities sector.

Related Party Transactions

• Pandanus Partners, L.P. owns voting stock in FIL Limited, typically representing between 25% and 48.5% of total votes. Pandanus Associates, Inc. acts as the general partner of Pandanus Partners, L.P. Pandanus is owned by trusts for the benefit of members of the Johnson family, including FIL's Chairman Abigail P. Johnson.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake by FIL Limited and its affiliates may be viewed positively by other shareholders as it indicates strong institutional confidence or interest in Algonquin Power & Utilities Corp.

Key Dates

Keywords

Algonquin Power & Utilities Corp., FIL Limited, Pandanus Partners, Pandanus Associates, Beneficial Ownership, Schedule 13G, Common Stock, SEC Filing, Institutional Ownership, Investment Adviser