Algonquin Power & Utilities Corp (AQN) Stock Could Soon Reward Patient Investors

Algonquin Power & Utilities Corp (NYSE: AQN) is -23.26% lower on its value in year-to-date trading and has touched a low of $4.67 and a high of $6.79 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 $4.75 in the last trading session, with the day’s gains setting it 0.1%.

Currently trading at $4.85, the stock is 1.05% and -4.29% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.59 million and changing 2.11% at the moment leaves the stock -15.72% off its SMA200. AQN registered -19.57% loss for a year compared to 6-month loss of -23.98%. The firm has a 50-day simple moving average (SMA 50) of $5.0812 and a 200-day simple moving average (SMA200) of $5.7592.

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The stock witnessed a -2.22% gain in the last 1 month and extending the period to 3 months gives it a -9.35%, and is 0.62% 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 2.03% over the week and 2.55% over the month.

Algonquin Power & Utilities Corp (AQN) has around 3500 employees, a market worth around $5.20B and $2.56B in sales. Fwd P/E is 14.86. Profit margin for the company is -39.77%. Distance from 52-week low is 3.85% and -28.57% from its 52-week high. The company has generated returns on investments over the last 12 months (-8.44%).

with sales reaching $642.37M over the same period.The EPS is expected to shrink by -23.14% this year, but quarterly earnings will post -2.58% year-over-year. Quarterly sales are estimated to shrink -3.68% in year-over-year returns.

Algonquin Power & Utilities Corp (AQN) Top Institutional Holders

362.0 institutions hold shares in Algonquin Power & Utilities Corp (AQN), with institutional investors hold 62.65% of the company’s shares. The shares outstanding are 790.23M, and float is at 766.46M with Short Float at 2.21%. Institutions hold 62.61% of the Float.

The top institutional shareholder in the company is STARBOARD VALUE LP with over 62.14 million shares valued at $364.15 million. The investor’s holdings represent 9.0116% of the AQN Shares outstanding. As of 2024-06-30, the second largest holder is ROYAL BANK OF CANADA with 28.91 million shares valued at $169.43 million to account for 4.1929 of the shares outstanding. The other top investors are VANGUARD GROUP INC which holds 27.04 million shares representing 3.922% and valued at over $158.48 million, while GOLDMAN SACHS GROUP INC holds 3.0195 of the shares totaling 20.82 million with a market value of $122.01 million.