Long Term Returns of Jeff Smith’s 5 Activist Targets

2. Algonquin Power & Utilities Corp. (NYSE:AQN

Activist Investment: 2023
Long-Term Returns: 7% Gain
S&P 500 Gain: 18%

Algonquin Power & Utilities Corp. (NYSE:AQN) is a renewable energy and utility company providing North American energy and water solutions. It operates through two segments: Regulated Services Group and Renewable Energy Group. Starboard Value targeted the company in 2023 after amassing more than a 5% stake.

The activist investor is urging the company to consider a review of its renewable energy division, having reiterated that its core regulated utility businesses are highly undervalued. Algonquin Power & Utilities Corp. (NYSE:AQN) engaged the services of JPMorgan early in the year to review possible alternatives.

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