He owned it but sold at $16 to $17 since he didn't like the deals it was making. There are too many headwinds in the industry including rising costs to build new structures.
Continues to pursue Kentucky Power, which is the right move because utilities don't come up for sale very often. They can take that utility and repurpose it. When a utility comes off so badly, you have to look at it as a buying opportunity. Renewable part struggling, and management needs to do better on this. He doesn't have confidence in management. If the assets are good, management is temporary.
He sold it in November 2021 when they bought a Kentucky company; didn't like that ROI and many institutional investors still don't like that deal for its huge capital cost, but limited return. They recently announced a 40% dividend cut, and they must sell some assets (but AQN hasn't said what). This is dead money until management regains credibility.
Algonquin Power & Utilities Corp is a Canadian stock, trading under the symbol AQN-T on the Toronto Stock Exchange (AQN-CT). It is usually referred to as TSX:AQN or AQN-T
In the last year, 45 stock analysts published opinions about AQN-T. 26 analysts recommended to BUY the stock. 13 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Algonquin Power & Utilities Corp.
Algonquin Power & Utilities Corp was recommended as a Top Pick by on . Read the latest stock experts ratings for Algonquin Power & Utilities Corp.
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
45 stock analysts on Stockchase covered Algonquin Power & Utilities Corp In the last year. It is a trending stock that is worth watching.
On 2023-02-08, Algonquin Power & Utilities Corp (AQN-T) stock closed at a price of $9.9.
They bought that Kentucky company at a time when they needed to repair their balance sheet. The stock has been punished already, but will take some time to correct. They are cutting their dividend. Wait a year or so to see where the company is at.