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.

#1 Small-Cap Uranium Stock for Ultra-Fast Gains in 2024

We've uncovered THE ONE small-cap uranium stock that has unearthed a near-surface, high-grade uranium discovery in the Saudi Arabia of Uranium — Canada's prolific Athabasca Basin. Best of all, this small-cap uranium stock is currently flying just below Wall Street's radar… giving you the early-entry opportunity around US$0.30 per share. But that won't last long. Drills are turning right now with results set to be released to the market very, very soon.

Learn all about it in this brand new FREE online report.
Sponsored

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.