Algonquin Power & Utilities Corp. [AQN] moved down -0.30: Why It’s Important


Algonquin Power & Utilities Corp. [NYSE: AQN] slipped around -0.04 points on Thursday, while shares priced at $13.40 at the close of the session, down -0.30%. The company report on May 12, 2022 that Algonquin Power & Utilities Corp. Announces 6% Common Share Dividend Increase, Declares Second Quarter 2022 Common Share Dividend of U.S.$0.1808 (C$0.2345), and Declares Second Quarter 2022 Preferred Share Dividends.

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Algonquin Power & Utilities Corp. (“AQN”) (TSX: AQN, AQN.PR.A, AQN.PR.D) (NYSE: AQN) announced today that its board of directors has approved and declared the following common and preferred share dividends:.

US$0.1808 per common share, payable on July 15, 2022, to the shareholders of record on June 30, 2022, for the period from April 1, 2022 to June 30, 2022. Shareholders receiving dividends in cash can elect to receive the dividend in Canadian dollars in the amount of C$0.2345.

Algonquin Power & Utilities Corp. stock is now -7.27% down from its year-to-date (YTD) trading value. AQN Stock saw the intraday high of $13.435 and lowest of $13.26 per share. The company’s 52-week high price is 16.25, which means current price is +1.06% above from all time high which was touched on 04/08/22.

Compared to the average trading volume of 2.05M shares, AQN reached a trading volume of 3849910 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]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AQN shares is $17.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AQN stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

National Bank Financial have made an estimate for Algonquin Power & Utilities Corp. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on May 04, 2022. The new note on the price target was released on November 10, 2021, representing the official price target for Algonquin Power & Utilities Corp. stock. Previously, the target price had yet another raise to $17.50, while Credit Suisse analysts kept a Neutral rating on AQN stock.

The Average True Range (ATR) for Algonquin Power & Utilities Corp. is set at 0.30, with the Price to Sales ratio for AQN stock in the period of the last 12 months amounting to 4.00. The Price to Book ratio for the last quarter was 1.20, with the Price to Cash per share for the same quarter was set at 0.18.

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 -3.04. With this latest performance, AQN shares dropped by -14.54% in over the last four-week period, additionally sinking by -6.56% over the last 6 months – not to mention a drop of -11.49% 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 17.79, with the RSI for the last a single of trading hit 10.34, and the three-weeks RSI is set at 24.75 for Algonquin Power & Utilities Corp. [AQN]. The present Moving Average for the last 50 days of trading for this stock 15.01, while it was recorded at 13.55 for the last single week of trading, and 14.72 for the last 200 days.

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

Algonquin Power & Utilities Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.70.

Earnings analysis for Algonquin Power & Utilities Corp. [AQN]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AQN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Algonquin Power & Utilities Corp. go to 8.07%.

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

There are presently around $3,432 million, or 45.89% 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 38,994,147, which is approximately -10.318% of the company’s market cap and around 0.15% of the total institutional ownership; ROYAL BANK OF CANADA, holding 32,466,755 shares of the stock with an approximate value of $436.35 million in AQN stocks shares; and VANGUARD GROUP INC, currently with $293.64 million in AQN stock with ownership of nearly 12.124% of the company’s market capitalization.

130 institutional holders increased their position in Algonquin Power & Utilities Corp. [NYSE:AQN] by around 20,116,547 shares. Additionally, 104 investors decreased positions by around 22,162,189 shares, while 41 investors held positions by with 213,072,687 shares. The mentioned changes placed institutional holdings at 255,351,423 shares, according to the latest SEC report filing. AQN stock had 38 new institutional investments in for a total of 3,974,326 shares, while 29 institutional investors sold positions of 3,319,102 shares during the same period.