Algonquin Power & Utilities Corp. [AQN] moved down -2.53: Why It’s Important

Algonquin Power & Utilities Corp. [NYSE: AQN] slipped around -0.39 points on Tuesday, while shares priced at $15.00 at the close of the session, down -2.53%. The company report on June 18, 2021 that Algonquin Power & Utilities Corp. Prices Upsized $1.0 Billion Equity Units Offering.

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This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated May 15, 2020 to its short form base shelf prospectus dated April 3, 2020.

Algonquin Power & Utilities Corp. (“AQN” or the “Company”) (TSX: AQN) (NYSE: AQN) announced that it has priced its upsized underwritten marketed public offering of 20,000,000 equity units (the “Equity Units”) for total gross proceeds of $1 billion (the “Offering”). The Offering is expected to close on or about June 23, 2021, subject to customary closing conditions.

Algonquin Power & Utilities Corp. stock is now -8.87% down from its year-to-date (YTD) trading value. AQN Stock saw the intraday high of $15.27 and lowest of $14.99 per share. The company’s 52-week high price is 17.86, which means current price is +1.25% above from all time high which was touched on 02/16/21.

Compared to the average trading volume of 1.78M shares, AQN reached a trading volume of 2826279 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Algonquin Power & Utilities Corp. [AQN]?

Credit Suisse have made an estimate for Algonquin Power & Utilities Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 14, 2021. The new note on the price target was released on May 08, 2020, representing the official price target for Algonquin Power & Utilities Corp. stock.

The Average True Range (ATR) for Algonquin Power & Utilities Corp. is set at 0.25, with the Price to Sales ratio for AQN stock in the period of the last 12 months amounting to 4.97. The Price to Book ratio for the last quarter was 1.79.

How has AQN stock performed recently?

Algonquin Power & Utilities Corp. [AQN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.09. With this latest performance, AQN shares dropped by -1.83% in over the last four-week period, additionally sinking by -7.86% over the last 6 months – not to mention a rise of 16.91% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AQN stock in for the last two-week period is set at 38.35, with the RSI for the last a single of trading hit 35.29, and the three-weeks RSI is set at 40.28 for Algonquin Power & Utilities Corp. [AQN]. The present Moving Average for the last 50 days of trading for this stock 15.64, while it was recorded at 15.22 for the last single week of trading, and 15.88 for the last 200 days.

Algonquin Power & Utilities Corp. [AQN]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Algonquin Power & Utilities Corp. [AQN] shares currently have an operating margin of +21.44 and a Gross Margin at +25.05. Algonquin Power & Utilities Corp.’s Net Margin is presently recorded at +47.47.

Return on Total Capital for AQN is now 3.84, given the latest momentum, and Return on Invested Capital for the company is 9.50. Return on Equity for this stock inclined to 18.01, with Return on Assets sitting at 6.77. When it comes to the capital structure of this company, Algonquin Power & Utilities Corp. [AQN] has a Total Debt to Total Equity ratio set at 87.49. Additionally, AQN Total Debt to Total Capital is recorded at 46.66, with Total Debt to Total Assets ending up at 34.43. Long-Term Debt to Equity for the company is recorded at 87.92, with the Long-Term Debt to Total Capital now at 45.23.

Reflecting on the efficiency of the workforce at the company, Algonquin Power & Utilities Corp. [AQN] managed to generate an average of $305,004 per employee. Receivables Turnover for the company is 5.89 with a Total Asset Turnover recorded at a value of 0.14.

Insider trade positions for Algonquin Power & Utilities Corp. [AQN]

There are presently around $4,215 million, or 53.72% of AQN stock, in the hands of institutional investors. The top three institutional holders of AQN stocks are: BANK OF MONTREAL /CAN/ with ownership of 40,886,103, which is approximately 3.63% of the company’s market cap and around 0.16% of the total institutional ownership; ROYAL BANK OF CANADA, holding 28,908,035 shares of the stock with an approximate value of $444.89 million in AQN stocks shares; and VANGUARD GROUP INC, currently with $276.41 million in AQN stock with ownership of nearly 6.356% of the company’s market capitalization.

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Positions in Algonquin Power & Utilities Corp. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 126 institutional holders increased their position in Algonquin Power & Utilities Corp. [NYSE:AQN] by around 30,234,156 shares. Additionally, 86 investors decreased positions by around 26,882,194 shares, while 38 investors held positions by with 216,730,820 shares. The mentioned changes placed institutional holdings at 273,847,170 shares, according to the latest SEC report filing. AQN stock had 26 new institutional investments in for a total of 1,569,045 shares, while 20 institutional investors sold positions of 1,688,400 shares during the same period.

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