Algonquin Power & Utilities Corp. [AQN] Stock trading around $6.56 per share: What’s Next?

Algonquin Power & Utilities Corp. [NYSE: AQN] traded at a low on 12/27/22, posting a -2.96 loss after which it closed the day’ session at $6.56. The company report on November 11, 2022 that Algonquin Power & Utilities Corp. Declares Fourth Quarter 2022 Common Share Dividend of U.S.$0.1808 (C$0.2438), and Declares Fourth Quarter 2022 Preferred Share Dividends.

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Algonquin Power & Utilities Corp. (“AQN”) (TSX: AQN) (TSX: AQN.PR.A) (TSX: 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 January 13, 2023 to the shareholders of record on December 30, 2022, for the period from October 1, 2022 to December 31, 2022. Shareholders receiving dividends in cash can elect to receive the dividend in Canadian dollars in the amount of C$0.2438.

The results of the trading session contributed to over 3907879 shares changing hands. Over the past one week, the price volatility of Algonquin Power & Utilities Corp. stands at 3.33% while the volatility over the past one month is 3.71%.

The market cap for AQN stock reached $5.87 billion, with 678.62 million shares outstanding and 673.20 million shares in the current float. Compared to the average trading volume of 6.00M shares, AQN reached a trading volume of 3907879 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 $11.07 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 2.80. 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.

TD Securities have made an estimate for Algonquin Power & Utilities Corp. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 14, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $17 to $12. The new note on the price target was released on November 14, 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 0.27, with the Price to Sales ratio for AQN stock in the period of the last 12 months amounting to 1.64. The Price to Book ratio for the last quarter was 0.63, with the Price to Cash per share for the same quarter was set at 0.17.

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 -1.80. With this latest performance, AQN shares dropped by -14.58% in over the last four-week period, additionally sinking by -52.50% over the last 6 months – not to mention a drop of -54.44% 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 28.93, with the RSI for the last a single of trading hit 28.85, and the three-weeks RSI is set at 29.34 for Algonquin Power & Utilities Corp. [AQN]. The present Moving Average for the last 50 days of trading for this stock 8.68, while it was recorded at 6.67 for the last single week of trading, and 12.60 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 0.60 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 3.90%.

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

There are presently around $1,888 million, or 47.38% 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 0.07% of the total institutional ownership; ROYAL BANK OF CANADA, holding 36,504,740 shares of the stock with an approximate value of $239.47 million in AQN stocks shares; and VANGUARD GROUP INC, currently with $156.17 million in AQN stock with ownership of nearly 3.73% 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 133 institutional holders increased their position in Algonquin Power & Utilities Corp. [NYSE:AQN] by around 23,000,474 shares. Additionally, 120 investors decreased positions by around 13,367,136 shares, while 43 investors held positions by with 251,378,062 shares. The mentioned changes placed institutional holdings at 287,745,672 shares, according to the latest SEC report filing. AQN stock had 32 new institutional investments in for a total of 2,188,179 shares, while 37 institutional investors sold positions of 2,323,433 shares during the same period.


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