Algonquin Power & Utilities Corp. (AQN) concluded trading on 09/14/23 at a closing price of $7.20, with 7.19 million shares of worth about $51.8 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -5.76% during that period and on Thursday the price saw a gain of about 1.12%. Currently the company’s common shares owned by public are about 687.85M shares, out of which, 636.02M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 13 analysts are covering the AQN stock and their offered price forecasts bring an average price target of $8.80. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $10.00 and could fall to a lowest price of $6.50. The stock’s current price level is 21.31% above of average price target set by the analysts, while a rise to estimated low would result in loss of -10.77% for the stock. However, touching the estimated high of $10.00 would mean a gain of 28.0% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 36 times over the past 12 months. They bought 367,101 shares in 35 of the transactions. In 1 selling transactions, insiders dumped 20,000 shares.
Government Pension Fund – Global, Vanguard Total International Stoc, and BMO Dividend Fund are the top 3 mutual funds which are holding stakes in Algonquin Power & Utilities Corp. Government Pension Fund – Global is currently holding 16.46 million shares of worth totaling $135.95 million. The company recently came buying 7.76 million shares which brought its stake up to 2.39% of the company’s outstanding shares. Vanguard Total International Stoc bought 15824.0 shares, after which its hold over company’s outstanding shares expand to 1.32%, leaving 9.12 million shares with the mutual fund that have a worth of about $75.3 million. BMO Dividend Fund, after buying 8.47 million shares, have now control over 1.23% of the stake in the company. It holds 0.0 shares of worth $69.99 million.
Algonquin Power & Utilities Corp. (NYSE: AQN) started trading at $7.175, above $0.05 from concluding price of the previous day. However, the stock later moved at a day high price of 7.24, or with a gain of 1.12%. Stock saw a price change of 1.55% in past 5 days and over the past one month there was a price change of 0.70%. Year-to-date (YTD), AQN shares are showing a performance of 10.43% which decreased to -46.67% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $6.41 but also hit the highest price of $13.65 during that period. The average intraday trading volume for Algonquin Power & Utilities Corp. shares is 4.89 million. The stock is currently trading -1.55% below its 20-day simple moving average (SMA20), while that difference is down -6.56% for SMA50 and it goes to -7.94% lower than SMA200.
Algonquin Power & Utilities Corp. (NYSE: AQN) currently have 687.85M outstanding shares and institutions hold larger chunk of about 63.06% of that. Holding of mutual funds in the company is about — while other institutional holders and individual stake holders have control over — and — of the stake respectively.
The stock has a current market capitalization of $6.78B and its 3Y-monthly beta is at 0.53. It has posted earnings per share of -$0.53 in the same period. It has Quick Ratio of 0.60 while making debt-to-equity ratio of 1.62. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AQN, volatility over the week remained 1.76% while standing at 2.11% over the month.
Analysts are in expectations that Algonquin Power & Utilities Corp. (AQN) stock would likely to be making an EPS of $0.13 in the current quarter, while forecast for next quarter EPS is $0.17 and it is $0.58 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.11 which is $0.15 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.11 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -180.00% while it is estimated to increase by 5.62% in next year. EPS is likely to grow at an annualized rate of 0.30% for next 5-years, compared to annual growth of -22.80% made by the stock over the past 5-years.
Analysts at 13 brokerage firms have issued recommendations for the Algonquin Power & Utilities Corp. (AQN)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.70. Out of those 13 Wall Street analysts, 3 recommended a “Buy” rating, while 8 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BofA Securities on April 18, 2023 offering a Neutral rating for the stock and assigned a target price range of between $9 and $8.50 to it.