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Algonquin Power & Utilities Corp. (AQN) Could Be Worth Consideration Now, Even At A Loss Of -101.13% Since Its High Price

Algonquin Power & Utilities Corp. (NYSE:AQN) price on Friday, March 17, rose 3.78% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $7.96.

A look at the stock’s price movement, the close in the last trading session was $7.67, moving within a range at $7.665 and $8.00. The beta value (5-Year monthly) was 0.31 while the PE ratio in trailing twelve months stood at 117.06. Turning to its 52-week performance, $16.01 and $6.41 were the 52-week high and 52-week low respectively. Overall, AQN moved 4.46% over the past month.

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Algonquin Power & Utilities Corp.’s market cap currently stands at around $7.57 billion, with investors looking forward to this quarter’s earnings report slated for Mar 17, 2023. The company has a Forward Dividend ratio of 0.98, with its dividend yield at 12.31%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $0.24, which has seen fiscal year 2022 EPS growth forecast to increase to $0.67 and about $0.6 for fiscal year 2023. Per the data, EPS growth is expected to be -5.60% for 2023 and -10.40% for the next financial year.

Analysts have a consensus estimate of $703.54 million for the company’s revenue for the quarter, with a low and high estimate of $672 million and $752 million respectively. The average forecast suggests up to a 18.30% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $2.75 billion, representing a 20.20% jump on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that AQN is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.

The technical evaluation for the stock shows the PEG ratio is 30.02, with AQN’s current price about 3.60% and 7.19% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 60.84, while 7-day volatility ratio is 3.59% and 3.00% in the 30-day chart. Further, Algonquin Power & Utilities Corp. (AQN) has a beta value of 0.27, and an average true range (ATR) of 0.24.

In the market, a comparison of Algonquin Power & Utilities Corp. (AQN) and its peers suggest the former has performed considerably stronger. Data shows AQN’s intraday price has changed 3.78% in last session and -46.29% over the past year. Looking at another peer, we see that PG&E Corporation (PCG) price has dipped -0.37% on the day. However, the stock is 34.17% off its price a year ago. Moreover, American Water Works Company Inc. (AWK) is also down -0.59% in trading on the day while keeping a a downtrend of -9.18% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -1.10% and -1.19% respectively in the last trading.

If we refocus on Algonquin Power & Utilities Corp. (NYSE:AQN), historical trading data shows that trading volumes averaged 4.45 million over the past 10 days and 5.48 million over the past 3 months. The company’s latest data on shares outstanding shows there are 678.62 million shares.

The 0.07% of Algonquin Power & Utilities Corp.’s shares are in the hands of company insiders while institutional holders own 49.98% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 22.53 million on Jan 30, 2023, giving us a short ratio of 3.45. The data shows that as of Jan 30, 2023 short interest in Algonquin Power & Utilities Corp. (AQN) stood at 3.30% of shares outstanding, with shares short falling to 37.9 million registered in Dec 29, 2022. Current price change has pushed the stock 22.09% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the AQN stock continues to rise going into the next quarter.

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