In the last trading session, 4.81 million shares of the Algonquin Power & Utilities Corp (NYSE:AQN) were traded, and its beta was 0.69. Most recently the company’s share price was $6.21, and it changed around -$0.11 or -1.74% from the last close, which brings the market valuation of the company to $4.42B. AQN currently trades at a discount to its 52-week high of $9.14, offering almost -47.18% off that amount. The share price’s 52-week low was $4.90, which indicates that the current value has risen by an impressive 21.1% since then. We note from Algonquin Power & Utilities Corp’s average daily trading volume that its 10-day average is 4.73 million shares, with the 3-month average coming to 4.75 million.
Algonquin Power & Utilities Corp (NYSE:AQN) trade information
Instantly AQN has showed a red trend with a performance of -1.74% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -1.74% year-to-date, but still up 1.47% over the last five days. On the other hand, Algonquin Power & Utilities Corp (NYSE:AQN) is 6.15% up in the 30-day period. We can see from the shorts that 21.98 million shares have been sold at a short interest cover period of 2.85 day(s).
The consensus price target as assigned by Wall Street analysts is $9.33, which translates to bulls needing to increase their stock price by 33.44% from its current value. Analyst projections state that AQN is forecast to be at a low of $5.75 and a high of $14.25.
Algonquin Power & Utilities Corp (AQN) estimates and forecasts
Algonquin Power & Utilities Corp share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 2.64 percent over the past six months and at a -7.55% annual growth rate that is well below the industry average of 6.00%. The year-over-year growth rate is expected to be 10.00%, up from the previous year.
Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $749.53 million in revenue for the current quarter. 1 analysts expect Algonquin Power & Utilities Corp to make $709.93 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $778.63 million and $627.9 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -3.70%. Forecasts for the next quarter put sales growth at 13.10%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -40.16%. Algonquin Power & Utilities Corp earnings are expected to increase by -3.60% in 2024, but the outlook is positive 4.30% per year for the next five years.
AQN Dividends
Algonquin Power & Utilities Corp’s next quarterly earnings report is expected to be released around May 09 and May 13. The annual dividend yield of the stock is 6.99 percent and its annual dividend per share was 0.43. It is important to note, however, that the 6.99% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Algonquin Power & Utilities Corp (NYSE:AQN)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.06% of Algonquin Power & Utilities Corp shares, and 61.51% of them are in the hands of institutional investors. The stock currently has a share float of 61.55%. Algonquin Power & Utilities Corp stock is held by 445 institutions, with Bank of Montreal/Can/ being the largest institutional investor. By Jun 29, 2023, it held 5.65% of the shares, which is about 38.93 million shares worth $321.54 million.
Starboard Value LP, with 4.95% or 34.14 million shares worth $281.99 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
Vanguard International Stock Index-Total Intl Stock Indx and Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund were the top two Mutual Funds as of Jul 30, 2023. The former held 9.12 million shares worth $75.3 million, making up 1.32% of all outstanding shares. On the other hand, Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund held roughly 5.42 million shares worth around $44.75 million, which represents about 0.79% of the total shares outstanding.
