Algonquin Power & Utilities Corp [AQN] Revenue clocked in at $2.76 billion, up 0.95% YTD: What’s Next?

Algonquin Power & Utilities Corp [NYSE: AQN] jumped around 0.02 points on Thursday, while shares priced at $6.38 at the close of the session, up 0.31%. The company report on December 19, 2023 at 5:00 PM that Algonquin Power & Utilities Corp. Announces Results of Exercise of Conversion Rights of Cumulative Rate Reset Preferred Shares, Series A.

Further to the press releases of Algonquin Power & Utilities Corp. (“AQN” or the “Company”) (TSX: AQN) (NYSE: AQN) dated November 22, 2023 and December 4, 2023, the Company announced today that none of its outstanding 4,800,000 Cumulative Rate Reset Preferred Shares, Series A (the “Series A Preferred Shares”) will be converted on January 2, 2024 into Cumulative Floating Rate Preferred Shares, Series B (the “Series B Preferred Shares”) of the Company.

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During the conversion notice period which ran from December 4, 2023 to December 18, 2023, less than 1,000,000 Series A Preferred Shares were tendered for conversion into Series B Preferred Shares. As a result, and consistent with the terms and conditions of the Series A Preferred Shares, no Series B Preferred Shares will be issued and holders of Series A Preferred Shares who tendered their Series A Preferred Shares for conversion will not be entitled to convert their Series A Preferred Shares into Series B Preferred Shares.

Algonquin Power & Utilities Corp stock is now 0.95% up from its year-to-date (YTD) trading value. AQN Stock saw the intraday high of $6.425 and lowest of $6.31 per share. The company’s 52-week high price is 9.14, which means current price is +1.75% above from all time high which was touched on 01/02/24.

Compared to the average trading volume of 4.45M shares, AQN reached a trading volume of 3125703 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 $6.79 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 2.91. 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.

BofA Securities 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 18, 2023.

The Average True Range (ATR) for Algonquin Power & Utilities Corp is set at 0.16, with the Price to Sales ratio for AQN stock in the period of the last 12 months amounting to 1.65. The Price to Book ratio for the last quarter was 0.96, with the Price to Cash per share for the same quarter was set at 0.13.

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 -1.24. With this latest performance, AQN shares gained by 0.31% in over the last four-week period, additionally sinking by -22.38% over the last 6 months – not to mention a drop of -5.20% 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 55.11, with the RSI for the last a single of trading hit 52.87, and the three-weeks RSI is set at 55.10 for Algonquin Power & Utilities Corp [AQN]. The present Moving Average for the last 50 days of trading for this stock 5.96, while it was recorded at 6.37 for the last single week of trading, and 7.31 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 +16.57 and a Gross Margin at +19.54. Algonquin Power & Utilities Corp’s Net Margin is presently recorded at -7.85.

Return on Total Capital for AQN is now 3.11, given the latest momentum, and Return on Invested Capital for the company is -1.75. Return on Equity for this stock declined to -3.81, with Return on Assets sitting at -1.22. 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 144.34. Additionally, AQN Total Debt to Total Capital is recorded at 59.07, with Total Debt to Total Assets ending up at 42.74. Long-Term Debt to Equity for the company is recorded at 141.21, with the Long-Term Debt to Total Capital now at 55.75.

Reflecting on the efficiency of the workforce at the company, Algonquin Power & Utilities Corp [AQN] managed to generate an average of -$69,850 per employee. Receivables Turnover for the company is 5.74 with a Total Asset Turnover recorded at a value of 0.16.Algonquin Power & Utilities Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.66.

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 0.30%.

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

The top three institutional holders of AQN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AQN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AQN stock with ownership which is approximately 5.8325%.