Market Analysts see Algonquin Power & Utilities Corp. [AQN] gaining to $15. Time to buy?

Algonquin Power & Utilities Corp. [NYSE: AQN] jumped around 0.59 points on Thursday, while shares priced at $11.51 at the close of the session, up 5.40%. The company report on October 25, 2022 that Algonquin Power & Utilities Corp. Announces Date for Third Quarter 2022 Financial Results and Conference Call.


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Algonquin Power & Utilities Corp. (“AQN”) (TSX: AQN) (NYSE: AQN) today announced plans to release its third quarter 2022 financial results on Friday, November 11, 2022, before market open. AQN will hold an earnings conference call at 8:00 a.m. eastern time on Friday, November 11, 2022, hosted by President and Chief Executive Officer, Arun Banskota, and Chief Financial Officer, Darren Myers.

Algonquin Power & Utilities Corp. stock is now -20.35% down from its year-to-date (YTD) trading value. AQN Stock saw the intraday high of $11.51 and lowest of $11.19 per share. The company’s 52-week high price is 16.01, which means current price is +15.91% above from all time high which was touched on 04/08/22.

Compared to the average trading volume of 2.38M shares, AQN reached a trading volume of 4551383 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 $14.33 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 2.30. 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.

Credit Suisse have made an estimate for Algonquin Power & Utilities Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 11, 2022. While these analysts kept the previous recommendation, National Bank Financial dropped their target price from $16 to $14.25. The new note on the price target was released on October 07, 2022, representing the official price target for Algonquin Power & Utilities Corp. stock.

The Average True Range (ATR) for Algonquin Power & Utilities Corp. is set at 0.34, with the Price to Sales ratio for AQN stock in the period of the last 12 months amounting to 3.16. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 0.12.

How has AQN stock performed recently?

Algonquin Power & Utilities Corp. [AQN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.97. With this latest performance, AQN shares gained by 12.62% in over the last four-week period, additionally sinking by -14.10% over the last 6 months – not to mention a drop of -19.74% 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 56.97, with the RSI for the last a single of trading hit 64.23, and the three-weeks RSI is set at 51.73 for Algonquin Power & Utilities Corp. [AQN]. The present Moving Average for the last 50 days of trading for this stock 11.70, while it was recorded at 11.09 for the last single week of trading, and 13.68 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 +15.15 and a Gross Margin at +18.14. Algonquin Power & Utilities Corp.’s Net Margin is presently recorded at +11.89.

Return on Equity for this stock inclined to 4.73, with Return on Assets sitting at 1.75.

Algonquin Power & Utilities Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.80.

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 7.85%.

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

There are presently around $3,271 million, or 45.87% 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 48,056,107, which is approximately 18.809% of the company’s market cap and around 0.05% of the total institutional ownership; ROYAL BANK OF CANADA, holding 37,894,775 shares of the stock with an approximate value of $436.17 million in AQN stocks shares; and VANGUARD GROUP INC, currently with $264.15 million in AQN stock with ownership of nearly 2.098% of the company’s market capitalization.

Positions in Algonquin Power & Utilities Corp. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 153 institutional holders increased their position in Algonquin Power & Utilities Corp. [NYSE:AQN] by around 25,684,325 shares. Additionally, 103 investors decreased positions by around 11,999,627 shares, while 38 investors held positions by with 246,541,189 shares. The mentioned changes placed institutional holdings at 284,225,141 shares, according to the latest SEC report filing. AQN stock had 41 new institutional investments in for a total of 2,664,653 shares, while 26 institutional investors sold positions of 1,409,306 shares during the same period.

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