Algonquin Power & Utilities Corp (AQN) Looks Ready for Growth Despite -8.39% Change This Year

Algonquin Power & Utilities Corp (NYSE: AQN) is -8.39% lower on its value in year-to-date trading and has touched a low of $4.90 and a high of $9.14 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The AQN stock was last observed hovering at around $5.75 in the last trading session, with the day’s gains setting it 0.04%.

Currently trading at $5.79, the stock is -3.64% and -6.71% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.65 million and changing 0.70% at the moment leaves the stock -17.76% off its SMA200. AQN registered -21.22% loss for a year compared to 6-month loss of -24.21%. The firm has a 50-day simple moving average (SMA 50) of $4.48 and a 200-day simple moving average (SMA200) of $30.64.

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The stock witnessed a -12.27% gain in the last 1 month and extending the period to 3 months gives it a 3.02%, and is -3.18% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.82% over the week and 3.15% over the month.

Algonquin Power & Utilities Corp (AQN) has around Dec 28 2023 employees, a market worth around $4.12B and $2.76B in sales. Fwd P/E is 10.78. Profit margin for the company is -8.72%. Distance from 52-week low is 18.16% and -36.65% from its 52-week high. The company has generated returns on investments over the last 12 months (-1.89%).

Algonquin Power & Utilities Corp quarterly earnings per share for the current quarter are estimated at $0.14 with sales reaching $743M over the same period.The EPS is expected to shrink by -26.92% this year, but quarterly earnings will post 1.70% year-over-year. Quarterly sales are estimated to shrink -0.70% in year-over-year returns.

Algonquin Power & Utilities Corp (AQN) Top Institutional Holders

444 institutions hold shares in Algonquin Power & Utilities Corp (AQN), with institutional investors hold 56.79% of the company’s shares. The shares outstanding are 712.14M, and float is at 688.48M with Short Float at 3.12%. Institutions hold 56.76% of the Float.

The top institutional shareholder in the company is Bank of Montreal/Can/ with over 38.93 million shares valued at $321.54 million. The investor’s holdings represent 5.65% of the AQN Shares outstanding. As of Jun 29, 2023, the second largest holder is Starboard Value LP with 34.14 million shares valued at $281.99 million to account for 4.95% of the shares outstanding. The other top investors are Vanguard Group Inc which holds 25.3 million shares representing 3.67% and valued at over $209.02 million, while Bank of America Corporation holds 3.45% of the shares totaling 23.74 million with a market value of $196.1 million.

Algonquin Power & Utilities Corp (AQN) Insider Activity

A total of 4 insider transactions have happened at Algonquin Power & Utilities Corp (AQN) in the last six months, with sales accounting for 0 and purchases happening 4 times.

Algonquin Power & Utilities Corp (AQN): Who are the competitors?

The company’s main competitors (and peers) include Emera Inc. (EMA) that is trading -13.46% down over the past 12 months. PG&E Corp. (PCG) that is 3.77% higher over the same period.