In yesterday’s Wall Street session, Algonquin Power & Utilities Corp. (NYSE:AQN) shares traded at $7.59, up 0.26% from the previous session.
As of this writing, 13 analysts cover Algonquin Power & Utilities Corp. (NYSE:AQN). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $6.50, we find $9.00. Given the previous closing price of $7.57, this indicates a potential upside of 18.89 percent. AQN stock price is now -4.04% away from the 50-day moving average and -3.51% away from the 200-day moving average. The market capitalization of the company currently stands at $7.05B.
There are 8 analysts who have given it a hold rating, whereas 3 have given it a buy rating. Brokers who have rated the stock have averaged $8.92 as their price target over the next twelve months.
With the price target reduced from $9 to $8.50, BofA Securities Downgraded its rating from Buy to Neutral for Algonquin Power & Utilities Corp. (NYSE: AQN).
A total of 0.07% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AQN stock. A new stake in Algonquin Power & Utilities Corp. shares was purchased by STARBOARD VALUE LP during the first quarter worth $259,112,000. AVIVA PLC invested $13,147,000 in shares of AQN during the first quarter. In the first quarter, WHITEBOX ADVISORS LLC acquired a new stake in Algonquin Power & Utilities Corp. valued at approximately $7,173,000. CARLSON CAPITAL L P acquired a new stake in AQN for approximately $6,376,000. M&G INVESTMENT MANAGEMENT LTD purchased a new stake in AQN valued at around $5,303,000 in the second quarter. In total, there are 486 active investors with 63.06% ownership of the company’s stock.
During the past 12 months, Algonquin Power & Utilities Corp. has had a low of $6.41 and a high of $14.25. As of last week, the company has a debt-to-equity ratio of 1.62, a current ratio of 0.70, and a quick ratio of 0.60. The fifty day moving average price for AQN is $7.89 and a two-hundred day moving average price translates $7.85 for the stock.
The latest earnings results from Algonquin Power & Utilities Corp. (NYSE: AQN) was released for Jun, 2023. According to the Utilities – Renewable Company, earnings per share came in at $0.08, missing analysts’ expectations of $0.11 by -0.03. This compares to -$0.05 EPS in the same period last year. The net profit margin was -9.30% and return on equity was -5.10% for AQN. The company reported revenue of $627.87 million for the quarter, compared to $619.38 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1.37 percent. For the current quarter, analysts expect AQN to generate $673.67M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/13/2023. Investors who held shares on 09/28/2023 were paid a $0.1085 dividend. On an annualized basis, this represents a $0.58 dividend and a 7.69% percent yield. There was an ex-dividend date of 09/27/2023 for this dividend.
Algonquin Power & Utilities Corp.(AQN) Company Profile
Algonquin Power & Utilities Corp., a renewable energy and utility company, that provides energy and water solutions and services in North America and internationally. The company operates through two segments, Regulated Services Group and Renewable Energy Group. The Regulated Services Group segment provides a portfolio of rate-regulated water, electricity, and gas utility services. It offers electricity distribution, water distribution, waste water treatment, and natural gas distribution services. The Renewable Energy Group segment generates and sells electrical energy produced by its portfolio of renewable power generation facilities primarily in the United States and Canada. It owns and operates hydroelectric, wind, solar, renewable natural gas, and thermal facilities. Algonquin Power & Utilities Corp. was incorporated in 1988 and is headquartered in Oakville, Canada.
