Algonquin Power & Utilities Corp (NYSE:AQN)’s traded shares stood at 5.79 million during the last session, with the company’s beta value hitting 0.72. At the close of trading, the stock’s price was $4.96, to imply an increase of 0.81% or $0.04 in intraday trading. The AQN share’s 52-week high remains $6.79, putting it -36.9% down since that peak but still an impressive 1.61% since price per share fell to its 52-week low of $4.88. The company has a valuation of $3.92B, with an average of 4.74 million shares in intraday trading volume over the past 10 days and average of 6.19 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Algonquin Power & Utilities Corp (AQN), translating to a mean rating of 2.78. Of 7 analyst(s) looking at the stock, 0 analyst(s) give AQN a Sell rating. 0 of those analysts rate the stock as Overweight while 2 advise Hold as 5 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at 0.09.
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Algonquin Power & Utilities Corp (NYSE:AQN) trade information
After registering a 0.81% upside in the last session, Algonquin Power & Utilities Corp (AQN) has traded red over the past five days. The 5-day price performance for the stock is -4.25%, and -8.82% over 30 days. With these gigs, the year-to-date price performance is -21.52%. Short interest in Algonquin Power & Utilities Corp (NYSE:AQN) saw shorts transact 13.91 million shares and set a 2.91 days time to cover.
The extremes give us $5.5 and $10.5 for target low and target high price respectively. As such, AQN has been trading -111.69% off suggested target high and -10.89% from its likely low.
Algonquin Power & Utilities Corp (AQN) estimates and forecasts
Looking at statistics comparing Algonquin Power & Utilities Corp share performance against respective industry, we note that the company has underperformed competitors. Algonquin Power & Utilities Corp (AQN) shares are -18.95% down over the last 6 months, with its year-to-date growth rate lower than industry average at -18.87% against 4.80%. Revenue is forecast to shrink -18.20% this quarter before falling -31.20% for the next one. The rating firms project that company’s revenue will grow 0.30% compared to the previous financial year.
Revenue forecast for the current quarter as set by 2 analysts is 598.92M. Meanwhile, for the current quarter, a total of 2 analyst(s) estimate revenue growth to 621.79M.Earnings reports from the last fiscal year show that sales brought in 624.7M and 666.9M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -4.10% before dropping -6.80% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -40.16% for the past 5-year period. While 2024 is set for a -16.79% return in earnings, projections for the next 5 years are at -1.50% annually.
AQN Dividends
Algonquin Power & Utilities Corp has its next earnings report out on 2024-Nov-07. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Algonquin Power & Utilities Corp has a forward dividend ratio of 0.39, with the share yield ticking at 7.87% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 5.73%.
Algonquin Power & Utilities Corp (NYSE:AQN)’s Major holders
Algonquin Power & Utilities Corp insiders hold 0.06% of total outstanding shares, with institutional holders owning 61.91% of the shares at 61.95% float percentage. In total, 61.91% institutions holds shares in the company, led by STARBOARD VALUE LP. As of 2024-06-30, the company held over 62.14 million shares (or 9.0116% of shares), all amounting to roughly $364.15 million.
The next major institution holding the largest number of shares is ROYAL BANK OF CANADA with 28.91 million shares, or about 4.1929% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $169.43 million.
