Why Algonquin Power & Utilities Corp. (AQN) Soared On Friday

We recently published a list of What Sent These 10 Stocks Soaring Today? In this article, we are going to take a look at where Algonquin Power & Utilities Corp. (NYSE:AQN) stands against other Friday’s best-performing stocks.

The stock market edged lower on the last day of the trading week as investors sold off positions to mitigate risks from the anticipated trade talks between the US and China this weekend.

The Dow Jones and the S&P 500 both fell by 0.29 percent and 0.07 percent, respectively. In contrast, the tech-heavy Nasdaq ended flat.

Beyond the major indices, 10 companies traded strongly, finishing with as much as double-digit gains, thanks to the continued positive earnings performance and optimistic outlooks.

In this article, we name Friday’s 10 best-performing stocks and detail the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.

Why Algonquin Power & Utilities Corp. (AQN) Soared On Friday

An engineer in a control room monitoring a massive system, demonstrating the capabilities of rate-regulated utilities.

Algonquin Power & Utilities Corp. (NYSE:AQN)

Algonquin saw its share prices jump by 9.71 percent on Friday to close at $5.99 apiece as investors cheered the company’s swing to profitability in the first quarter of the year.

In a statement, Algonquin Power & Utilities Corp. (NYSE:AQN) said that it achieved a net income attributable to shareholders of $96.8 million, a reversal of the $89.1 million net loss recorded in the same period last year.

“Our results were solid, reflecting the strength of our core regulated utility operations, even when accounting for one-time items that contributed positive tailwinds,” said Algonquin Power & Utilities Corp. (NYSE:AQN) CEO Rod West, adding that he was encouraged by the opportunities ahead.

The company said that it would elaborate on its earnings performance in an investor call on June 3.

In other news, Algonquin Power & Utilities Corp. (NYSE:AQN) declared a cash dividend of $0.65 per share to shareholders for the period from April 1 to June 30, 2025. The dividends will be paid out on July 15.

Shareholders can also opt to receive the dividends in Canadian dollars in the amount of C$0.0897.

Overall, AQN ranks 9th on our list of Friday’s best-performing stocks. While we acknowledge the potential of AQN as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than AQN but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.