Profile
Sector:
UtilitiesIndustry:
RenewableCountry:
CanadaIPO:
29 December 2009Website:
http://algonquinpower.comNext earnings report:
07 November 2024Last dividends:
27 September 2024Next dividends:
N/APrice
after hours | Fri, 01 Nov 2024 23:50:38 GMTAnalysts recommendations
Institutional Ownership
AQN Latest News
Algonquin Power & Utilities (AQN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Algonquin is divesting renewable assets to focus on regulated services, aiming for stable profits and dividends. The company's regulated services are under-earning but expected to improve with new rate approvals, particularly in New York and Bermuda. Algonquin's financial leverage will decline post-renewables separation, aided by recent dividend cuts.
OAKVILLE, ON , Oct. 11, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. (TSX: AQN) (NYSE: AQN) ("AQN") today announced plans to release its third quarter 2024 financial results on Thursday, November 7, 2024, before market open. AQN will hold an earnings conference call at 10:00 a.m.
Algonquin is transitioning to a pure-play regulated utility, exiting merchant power activities to reduce debt and simplify its business, creating significant shareholder value. The utility sector is currently thriving due to rising power demand, declining rates and rising regulated revenues, making it an attractive investment. Algonquin is trading at a significant discount to peers, with the potential for its equity value to double as it adds assets to its rate base.
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AQN missed top line numbers in Q2-2024, with revenues declining year over year by 5%. It announced the sale of its renewable energy business for up to $2.5 billion. The company adjusted its common share dividend reducing it by approximately 40% for Q3-2024.
NEW YORK , Aug. 9, 2024 /PRNewswire/ -- LS Power, a leading development, investment and operating company focused on the North American power and energy infrastructure sector, today announced it has reached an agreement with Algonquin Power & Utilities Corp. (TSX/NYSE: AQN) ("AQN") to acquire its renewable energy business (the "Renewables Business"). The Renewables Business is comprised largely of wind and solar assets located throughout the United States and Canada, including 44 operating assets with more than 3,000 megawatts (MW) of generating capacity and an 8,000 MW pipeline of wind, solar, battery energy storage and renewable natural gas projects in various stages of development.
Canada's Algonquin Power & Utilities Corp said on Friday that it is selling its renewable energy business, excluding hydropower operations, to a wholly-owned subsidiary of LS Power for up to $2.5 billion.
OAKVILLE, ON , Aug. 9, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN" or the "Company") (TSX: AQN) (TSX: AQN.PR.A) (TSX: AQN.PR.D) (NYSE: AQN) announced today that the board of directors has declared the following common and preferred share dividends: US$0.0650 per common share, payable on October 15, 2024, to the shareholders of record on September 30, 2024, for the period from July 1, 2024 to September 30, 2024. Registered shareholders can elect to receive the dividend in Canadian dollars in the amount of C$0.0893.
Continuing Ongoing Strategic Transition to a Pure-Play Regulated Utility Company to Hold Second Quarter Earnings Conference Call at 8:30 am E.T. OAKVILLE, ON , Aug. 9, 2024 /PRNewswire/ - Algonquin Power & Utilities Corp. (TSX: AQN) (NYSE: AQN) ("AQN" or the "Company") announced today financial results for the second quarter ended June 30, 2024.
What type of business is Algonquin Power & Utilities?
Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations. As of December 31, 2023, it provided distribution services to approximately 1,256,000 customer connections in the electric (approximately 309,000 customer connections), water and wastewater (approximately 572,000 customer connections), and natural gas sectors (approximately 375,000 customer connections). The company's electrical distribution utility systems and related transmission and generation assets are located in the states of Arkansas, California, Kansas, Missouri, Nevada, New Hampshire, and Oklahoma, and in Bermuda. Its regulated water distribution and wastewater collection utility systems are located in the states of Arizona, Arkansas, California, Illinois, Missouri, New York and Texas, and in Chile. The company's regulated natural gas distribution utility systems located in the province of New Brunswick and the states of Georgia, Illinois, Iowa, Massachusetts, Missouri, New Hampshire and New York. It also owns and operates generating assets with a gross capacity of approximately 2.0 gigawatt (GW) and has investments in generating assets with approximately 0.3 GW of net generation capacity. The company generates and sells electrical energy, capacity, ancillary products, and renewable attributes produced by its renewable and clean power generation facilities. It has economic interests in hydroelectric, wind, solar, renewable natural gas, and thermal facilities. As of December 31, 2023, it had a combined net generating capacity attributable to the Renewable Energy Group of approximately 2.7 GW. The company was incorporated in 1988 and is headquartered in Oakville, Canada.
What sector is Algonquin Power & Utilities in?
Algonquin Power & Utilities is in the Utilities sector
What industry is Algonquin Power & Utilities in?
Algonquin Power & Utilities is in the Renewable industry
What country is Algonquin Power & Utilities from?
Algonquin Power & Utilities is headquartered in Canada
When did Algonquin Power & Utilities go public?
Algonquin Power & Utilities initial public offering (IPO) was on 29 December 2009
What is Algonquin Power & Utilities website?
https://algonquinpower.com
Is Algonquin Power & Utilities in the S&P 500?
No, Algonquin Power & Utilities is not included in the S&P 500 index
Is Algonquin Power & Utilities in the NASDAQ 100?
No, Algonquin Power & Utilities is not included in the NASDAQ 100 index
Is Algonquin Power & Utilities in the Dow Jones?
No, Algonquin Power & Utilities is not included in the Dow Jones index
When was Algonquin Power & Utilities the previous earnings report?
No data
When does Algonquin Power & Utilities earnings report?
The next expected earnings date for Algonquin Power & Utilities is 07 November 2024