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Is Algonquin Power & Utilities Corp (AQN) a good stock to buy now?

Algonquin Power & Utilities Corp (NYSE: AQN) is -1.74% 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 $6.32 in the last trading session, with the day’s loss setting it -0.11%.

Currently trading at $6.21, the stock is 2.08% and 3.88% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.81 million and changing -1.74% at the moment leaves the stock -5.95% off its SMA200. AQN registered -24.73% loss for a year compared to 6-month loss of 2.64%. The firm has a 50-day simple moving average (SMA 50) of $4.80 and a 200-day simple moving average (SMA200) of $18.00.

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The stock witnessed a 6.15% gain in the last 1 month and extending the period to 3 months gives it a -1.74%, and is 1.47% up 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 2.95% over the week and 2.94% over the month.

Current P/E ratio is 321.76 and Fwd P/E is 11.83. Profit margin for the company is 0.76%. Distance from 52-week low is 26.73% and -32.06% from its 52-week high. The company has generated returns on investments over the last 12 months (0.16%).

Algonquin Power & Utilities Corp quarterly earnings per share for the current quarter are estimated at $0.17 with sales reaching $749.53M over the same period.The EPS is expected to shrink by -3.60% this year, but quarterly earnings will post 10.00% year-over-year. Quarterly sales are estimated to shrink -3.70% in year-over-year returns.

Algonquin Power & Utilities Corp (AQN) Top Institutional Holders

445 institutions hold shares in Algonquin Power & Utilities Corp (AQN), with institutional investors hold 61.55% of the company’s shares. The shares outstanding are 689.27M, and float is at 688.79M with Short Float at 3.19%. Institutions hold 61.51% 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.

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