Algonquin Power & Utilities Corp (NYSE:AQN) has a beta value of 0.72 and has seen 0.85 million shares traded in the recent trading session. The company, currently valued at $4.06B, closed the recent trade at $5.14 per share which meant it gained $0.05 on the day or 0.95% during that session. The AQN stock price is -32.1% off its 52-week high price of $6.79 and 4.67% 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 5.17 million shares traded. The 3-month trading volume is 6.20 million shares.
The consensus among analysts is that Algonquin Power & Utilities Corp (AQN) is Buy stock at the moment, with a recommendation rating of 2.78. 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 0.95% 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 $5.14 or saw a rise of 0.58%. Year-to-date, Algonquin Power & Utilities Corp shares have moved -18.69%, while the 5-day performance has seen it change 2.36%. Over the past 30 days, the shares of Algonquin Power & Utilities Corp (NYSE:AQN) have changed -6.74%. Short interest in the company has seen 13.91 million shares shorted with days to cover at 2.91.
Wall Street analysts have a consensus price target for the stock at $7.12, which means that the shares’ value could jump 27.81% from the levels at last check today. The projected low price target is $5.5 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 -104.28% off the targeted high while a plunge would see the stock gain -7.0% 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 -10.79% over the past 6 months, with this year growth rate of -16.98%, compared to 5.10% for the industry. Revenue growth from the last financial year stood is estimated to be 0.80%.
2 analysts offering their estimates for the company have set an average revenue estimate of 606.42M for the current quarter. 2 have an estimated revenue figure of 628.29M 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 -2.90% for the current quarter and 0.80% 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 -16.29% while over the next 5 years, the company’s earnings are expected to decrease by -12.00%.
AQN Dividends
Algonquin Power & Utilities Corp is expected to release its next earnings report on 2024-Nov-07 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.39 at a share yield of 7.60%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 5.73%.
Algonquin Power & Utilities Corp (NYSE:AQN)’s Major holders
Insiders own 0.06% of the company shares, while shares held by institutions stand at 61.88% with a share float percentage of 61.91%. Investors are also buoyed by the number of investors in a company, with Algonquin Power & Utilities Corp having a total of 382.0 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.
Also the top two Mutual Funds that are holding company’s shares are Lazard Global Listed Infrastructure Portfolio and Vanguard International Stock Index-Total Intl Stock Indx. As of Jun 30, 2024, the former fund manager holds about 4.56% shares in the company for having 35.02 shares of worth $180.0 million while later fund manager owns 9.59 shares of worth $49.3 million as of Jul 31, 2024, which makes it owner of about 1.25% of company’s outstanding stock.
