Algonquin Power & Utilities Corp (NYSE:AQN) has a beta value of 0.71 and has seen 2.06 million shares traded in the recent trading session. The company, currently valued at $4.26B, closed the recent trade at $5.40 per share which meant it gained $0.08 on the day or 1.47% during that session. The AQN stock price is -41.85% off its 52-week high price of $7.66 and 9.26% above the 52-week low of $4.90. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.0 million shares traded. The 3-month trading volume is 6.70 million shares.
The consensus among analysts is that Algonquin Power & Utilities Corp (AQN) is Buy stock at the moment, with a recommendation rating of 2.56. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 2 out of 7 have rated it as a Hold, with 5 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.09.
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Algonquin Power & Utilities Corp (NYSE:AQN) trade information
Sporting 1.47% in the green today, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the AQN stock price touched $5.40 or saw a rise of 0.74%. Year-to-date, Algonquin Power & Utilities Corp shares have moved -14.59%, while the 5-day performance has seen it change 0.90%. Over the past 30 days, the shares of Algonquin Power & Utilities Corp (NYSE:AQN) have changed -9.12%. Short interest in the company has seen 16.49 million shares shorted with days to cover at 2.21.
Wall Street analysts have a consensus price target for the stock at $7.12, which means that the shares’ value could jump 24.16% from the levels at last check today. The projected low price target is $5.75 while the price target rests at a high of $10.5. In that case, then, we find that the latest price level in today’s session is -94.44% off the targeted high while a plunge would see the stock gain -6.48% from the levels at last check today.
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 -7.57% over the past 6 months, with this year growth rate of -13.21%, compared to 6.10% for the industry. Revenue growth from the last financial year stood is estimated to be 1.60%.
1 analysts offering their estimates for the company have set an average revenue estimate of 583M for the current quarter. 1 have an estimated revenue figure of 596M for the next ending quarter. Year-ago sales stood 624.7M and 666.9M respectively for this quarter and the next, and analysts expect sales will shrink by -6.70% for the current quarter and 1.60% 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 -40.16% over the past 5 years. Earnings growth for 2024 is a modest -7.92% while over the next 5 years, the company’s earnings are expected to increase by 1.70%.
AQN Dividends
Algonquin Power & Utilities Corp is expected to release its next earnings report in October this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.43 at a share yield of 8.04%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 5.67%.
Algonquin Power & Utilities Corp (NYSE:AQN)’s Major holders
Insiders own 0.06% of the company shares, while shares held by institutions stand at 61.42% with a share float percentage of 61.46%. Investors are also buoyed by the number of investors in a company, with Algonquin Power & Utilities Corp having a total of 397.0 institutions that hold shares in the company. The top two institutional holders are STARBOARD VALUE LP with over 62.14 million shares worth more than $364.15 million. As of 2024-06-30, STARBOARD VALUE LP held 9.0116% of shares outstanding.
The other major institutional holder is ROYAL BANK OF CANADA, with the holding of over 28.91 million shares as of 2024-06-30. The firm’s total holdings are worth over $169.43 million and represent 4.1929% of shares outstanding.
