Algonquin Power & Utilities Corp. (NYSE: AQN) stock fell -0.63% on Friday to $12.67 against a previous-day closing price of $12.75. With 1.9 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.62 million shares. During the session, the Utilities – Renewable company that operates in wider Utilities sector, reached to the highest price of $12.73 whereas the lowest price it dropped to was $12.57. The 52-week range on AQN shows that it touched its highest point at $16.01 and its lowest point at $12.69 during that stretch. It currently has a 1-year price target of $16.33. With its current market cap of 11.60 billion, AQN has annualized dividend of $0.92 while the current yield stands at 7.28%. Beta for the stock currently stands at 0.30.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AQN was down-trending over the past week, with a drop of -5.52%, but this was down by -10.96% over a month. Three-month performance dropped to -6.29% while six-month performance fell -16.37%. The stock lost -17.14% in the past year, while it has lost -12.32% so far this year. A look at the trailing 12-month EPS for AQN yields 0.39 with Next year EPS estimates of 0.81. For the next quarter, that number is 0.17. This implies an EPS growth rate of -70.60% for this year and 8.76% for next year. EPS is expected to grow by 7.85% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -1.50%.
Float and Shares Shorts:
At present, 677.82 million AQN shares are outstanding with a float of 677.45 million shares on hand for trading. On Jul 14, 2022, short shares totaled 15.27 million, which was 2.26% higher than short shares on Jun 14, 2022. In addition to Mr. Arun Banskota as the firm’s Pres, CEO & Director, Mr. Arthur Kacprzak serves as its Chief Financial Officer.
Through their ownership of 43.32% of AQN’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of AQN, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 1.31% stake in AQN, the Vanguard Total International Stoc is the largest stakeholder. A total of 8,849,333 shares are owned by the mutual fund manager. The Government Pension Fund – Global, which owns about 1.29% of AQN stock, is the second-largest Mutual Fund holder. It holds 8,695,690 shares valued at 119.22 million. BMO Dividend Fund holds 1.25% of the stake in AQN, owning 8,472,900 shares worth 116.16 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AQN since 13 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 6 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With AQN analysts setting a high price target of $18.00 and a low target of $13.55, the average target price over the next 12 months is $16.04. Based on these targets, AQN could surge 42.07% to reach the target high and rise by 6.95% to reach the target low. Reaching the average price target will result in a growth of 26.6% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. AQN will report FY 2022 earnings on 03/02/2023. Analysts have provided yearly estimates in a range of $0.76 being high and $0.71 being low. For AQN, this leads to a yearly average estimate of $0.74. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Algonquin Power & Utilities Corp. surprised analysts by $0.01 when it reported $0.16 EPS against a consensus estimate of $0.15. The surprise factor in the prior quarter was -$0.00. Based on analyst estimates, the high estimate for the next quarter is $0.18 and the low estimate is $0.16. The average estimate for the next quarter is thus $0.17.