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Investors In Algonquin Power & Utilities Corp. (AQN) Will Start Making Money Again

Algonquin Power & Utilities Corp. (NYSE:AQN) has a beta value of 0.28 and has seen 4.03 million shares traded in the last trading session. The company, currently valued at $6.45B, closed the last trade at $7.32 per share which meant it gained $0.02 on the day or 0.27% during that session. The AQN stock price is -118.72% off its 52-week high price of $16.01 and 12.43% above the 52-week low of $6.41. If we look at the company’s 10-day average daily trading volume, we find that it stood at 8.11 million shares traded. The 3-month trading volume is 7.14 million shares.

The consensus among analysts is that Algonquin Power & Utilities Corp. (AQN) is a Hold stock at the moment, with a recommendation rating of 2.80. 2 analysts rate the stock as a Sell, while 1 rate it as Overweight. 7 out of 13 have rated it as a Hold, with 2 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $0.17.

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Algonquin Power & Utilities Corp. (NYSE:AQN) trade information

Sporting 0.27% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 01/24/23 when the AQN stock price touched $7.32 or saw a rise of 0.54%. Year-to-date, Algonquin Power & Utilities Corp. shares have moved 12.27%, while the 5-day performance has seen it change 2.23%. Over the past 30 days, the shares of Algonquin Power & Utilities Corp. (NYSE:AQN) have changed 8.77%. Short interest in the company has seen 24.0 million shares shorted with days to cover at 8.04.

Wall Street analysts have a consensus price target for the stock at $8.43, which means that the shares’ value could jump 13.17% from current levels. The projected low price target is $6.70 while the price target rests at a high of $11.00. In that case, then, we find that the current price level is -50.27% off the targeted high while a plunge would see the stock lose 8.47% from current levels.

Algonquin Power & Utilities Corp. (AQN) estimates and forecasts

Figures show that Algonquin Power & Utilities Corp. shares have underperformed across the wider relevant industry. The company’s shares have lost -46.02% over the past 6 months, with this year growth rate of -4.23%, compared to 7.20% for the industry. Revenue growth from the last financial year stood is estimated to be 20.30%.

3 analysts offering their estimates for the company have set an average revenue estimate of $594.76 million for the current quarter. 3 have an estimated revenue figure of $715.85 million for the next quarter concluding in Dec 2022. Year-ago sales stood $528.58 million and $594.8 million respectively for this quarter and the next, and analysts expect sales will grow by 12.50% for the current quarter and 20.40% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -1.50% over the past 5 years. Earnings growth for 2023 is a modest -70.60% while over the next 5 years, the company’s earnings are expected to increase by 3.90%.

AQN Dividends

Algonquin Power & Utilities Corp. is expected to release its next earnings report between March 01 and March 06 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.98 at a share yield of 13.39%. The company’s dividend yield has gone up over the past 12 months.

Algonquin Power & Utilities Corp. (NYSE:AQN)’s Major holders

Insiders own 0.05% of the company shares, while shares held by institutions stand at 45.87% with a share float percentage of 45.89%. Investors are also buoyed by the number of investors in a company, with Algonquin Power & Utilities Corp. having a total of 467 institutions that hold shares in the company. The top two institutional holders are Bank of Montreal/Can/ with over 40.45 million shares worth more than $543.22 million. As of Jun 29, 2022, Bank of Montreal/Can/ held 6.00% of shares outstanding.

The other major institutional holder is Royal Bank of Canada, with the holding of over 37.89 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $508.93 million and represent 5.63% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard International Stock Index-Total Intl Stock Indx and Lord Abbett Affiliated Fund. As of Jul 30, 2022, the former fund manager holds about 1.31% shares in the company for having 8.85 million shares of worth $123.8 million while later fund manager owns 5.31 million shares of worth $74.28 million as of Jul 30, 2022, which makes it owner of about 0.79% of company’s outstanding stock.

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