Algonquin Power & Utilities

Algonquin Power & Utilities Corp. operates as a diversified utility company. The firm engages in the ownership and operation of a portfolio of regulated and non-regulated generation, distribution and transmission utility assets. It operates through the following segments: Regulated Services Group, and Renewable Energy Group. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution and wastewater collection utility systems and transmission operations in the United States and Canada. The Renewable Energy Group segment owns and operates a diversified portfolio of renewable and thermal electric generation assets in North America and internationally. The company was founded on August 1, 1988 and is headquartered in Oakville, Canada.

Earnings data Q1 2021

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Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission. The Renewable Energy Group segment focuses on operating a diversified portfolio of renewable and thermal electric generation assets. The company was founded on August 1, 1988 and is headquartered in Oakville, Canada.

Algonquin Power & Utilities Corp investors have witnessed the worst hammering as the Fed broke its growth story. Investors are preparing for a higher-for-longer positioning. The company is transitioning to focus on becoming a pure-play regulated utilities business, as its current model is no longer sustainable. However, the timing of the business transition may be challenging due to the recent hammering of utilities stocks.

Algonquin: Nearly Entered Penny Stock Status - Why You Should Avoid

Algonquin Power & Utilities Corp. has faced challenges due to high debt and poor capital allocation policy. Valuation entered a buy-zone in the last few days. We go over expected returns and tell you why the 9.6% yield on the preferred shares can be an attractive alternative.

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Algonquin Power & Utilities Corp and ATCO Ltd. have similarities but three main differences. We examine the companies from the lens of valuation, growth opportunities and debt load. One is clearly better than the other.

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Algonquin Power & Utilities Corp. (NYSE:AQN ) Q2 2023 Earnings Conference Call August 10, 2023 8:30 AM ET Company Participants Brian Chin - VP, IR Chris Huskilson - Interim CEO Darren Myers - CFO Johnny Johnston - Chief Operating Officer Jeff Norman - Chief Development Officer Conference Call Participants Dariusz Lozny - Bank of America Sean Steuart - TD Securities Robert Hope - Scotiabank Rupert Merer - National Bank Nelson Ng - RBC Capital Markets Mark Jarvi - CIBC Capital Market Ben Pham - BMO Andrew Kuske - Credit Suisse Naji Baydoun - IA Capital Markets Operator Hello, and welcome to the Algonquin Power & Utilities Corp. Second Quarter 2023 Earnings Conference Call. [Operator Instructions] I would now turn the conference over to Mr.

Algonquin Power & Utilities Corp. (AQN) Q2 2023 Earnings Call Transcript

OAKVILLE, ON , Aug. 10, 2023 /PRNewswire/ - Algonquin Power & Utilities Corp. (TSX: AQN) (NYSE: AQN) ("AQN" or the "Company") today announced that it will pursue a sale of the Renewable Energy Group. "Over the past few months, the AQN Board of Directors, in conjunction with our independent financial advisor, has conducted a thorough review of our businesses with the aim of enhancing value for our shareholders," said Chris Huskilson, Interim Chief Executive Officer of AQN.

Algonquin Power & Utilities Corp. Will Pursue Sale of Renewable Energy Group Following Strategic Review; Announces 2023 Second Quarter Financial Results

OAKVILLE, ON , Aug. 10, 2023 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN") (TSX: AQN) (TSX: AQN.PR.A) (TSX: AQN.PR.D) (NYSE: AQN) announced today that its board of directors has approved and declared the following common and preferred share dividends: US$0.1085 per common share, payable on October 13, 2023, to the shareholders of record on September 28, 2023, for the period from July 1, 2023 to September 30, 2023. Registered shareholders can elect to receive the dividend in Canadian dollars in the amount of C$0.1460.

Algonquin Power & Utilities Corp. Declares Third Quarter 2023 Common Share Dividend of U.S.$0.1085 (C$0.1460), and Declares Third Quarter 2023 Preferred Share Dividends

Chris Huskilson Appointed Interim CEO, Succeeding Arun Banskota Board Commencing Search for a Permanent CEO OAKVILLE, ON , Aug. 10, 2023 /PRNewswire/ - Algonquin Power & Utilities Corp. ("AQN", "Algonquin" or the "Company") (TSX: AQN) (NYSE: AQN) today announced that energy industry veteran Christopher Huskilson, a member of the Algonquin Board of Directors (the "Board") since 2020, has been appointed Interim Chief Executive Officer, effective immediately. He succeeds Arun Banskota, who has stepped down as President and Chief Executive Officer and as a member of the Board, effective immediately.

Algonquin Power & Utilities Corp. Announces CEO Transition

Algonquin (AQN) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Is a Surprise Coming for Algonquin (AQN) This Earnings Season?

OAKVILLE, ON , July 25, 2023 /PRNewswire/ - Algonquin Power & Utilities Corp. (TSX: AQN) (NYSE: AQN) ("AQN") today announced plans to release its second quarter 2023 financial results on Thursday, August 10, 2023, before market open. AQN will hold an earnings conference call at 8:30 a.m.

Algonquin Power & Utilities Corp. Announces Date for Second Quarter 2023 Financial Results and Conference Call

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Algonquin Power and Utilities Units

Fintel reports that Starboard Value has filed a 13D/A form with the SEC disclosing ownership of 34.89MM shares of Algonquin Power & Utilities Corp (AQN).

Starboard Value Now Owns 5.10% of Algonquin Power & Utilities (AQN)

Algonquin Power will be conducting a strategic review of its renewables business.

Activist Starboard prepares the groundwork to reduce leverage and build value at Algonquin Power

Algonquin Power & Utilities' stock has declined by 38% in the last 12 months, partly due to a 40% cut in its dividend in March. The company's higher cost of capital due to increased interest rates has impacted its performance, with interest expenses jumping by $84.2 million (or 40%) from 2021 to 2022. Despite a 6% increase in Q1 2023 revenue, adjusted earnings declined 15% to $119.9 million, indicating higher operating costs, including interest expenses.

Algonquin: Why We Think It's A "Hold" At Best

Activist hedge fund Starboard Value on Thursday sent a letter to utility firm Algonquin Power & Utilities asking it to sell a majority of its renewable assets to reduce debt and improve earnings.

Hedge fund Starboard asks Algonquin Power to sell renewable assets

Activist investor Starboard Value LP believes Algonquin Power & Utilities Corp. AQN CA:AQN could boost shareholder value, raise its dividend and cut its debt with a “properly executed” sale of all or most of the company's renewable energy business. Starboard, which is Algonquin's largest shareholder with a 7.5% stake, said without the renewables business, “Algonquin is significantly greener than peers,” as one-third of its electric generation capacity comes from renewables with no coal exposure, compared with an average of 26% for its regulated utility peers.

Algonquin Power and Utilities can boost earnings, its dividend and its stock with proper sale of renewables assets, Starboard says

Shares of Algonquin Power & Utilities Corp. AQN, +2.19% were up 1.6% in Friday's premarket trading after Starboard Value LP disclosed a 5% stake in the company. Jeffrey Smith's Starboard Value has amassed a position of 34.1 million shares of the energy and water-solutions company, according to a Friday morning filing with the Securities and Exchange Commission.

Algonquin Power stock gets a pop after Starboard discloses stake and calls shares ‘undervalued'

Starboard Value has gained a more than 5% stake in Algonquin Power & Utilities , the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Starboard takes stake of about 5% in Algonquin Power - WSJ

The activist investor pushes for the sale of the power company's renewable-energy unit.

Starboard Builds Stake in Algonquin Power

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AQN stock has lost more than half of its value since the highs of February 2021 while the dividend has suffered a similar fate. AY has also seen its stock sell off quite a bit from previous highs. That said, we believe that the sell-offs have been overdone and the stocks now offer compelling value.

Algonquin And Atlantica: Strategic Reviews Could Be A Major Catalyst

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While a sale of the Renewable Energy Group could simplify Algonquin's story with investors, risks are associated with doing so.

Big Question for Algonquin Power & Utilities: Sell or Not to Sell Renewables Biz?

Algonquin Power & Utilities Corp. (NYSE:AQN ) Q1 2023 Earnings Conference Call May 11, 2023 8:30 AM ET Company Participants Brian Chin - VP, IR Arun Banskota - President & CEO Darren Myers - CFO Johnny Johnston - Chief Operating Officer Jeff Norman - Chief Development Officer Conference Call Participants Nelson Ng - RBC Capital Markets Rupert Merer - National Bank Financial Mark Jarvi - CIBC Capital Markets Sean Steuart - TD Securities Andrew Kuske - Credit Suisse Ben Pham - BMO Dariusz Lozny - Bank of America Naji Baydoun - IA Capital Markets Robert Hope - Scotiabank Operator Good morning, ladies and gentlemen, and welcome to the Algonquin Power & Utilities Corp. First Quarter 2023 Earnings Webcast and Conference Call. Following the presentation, there will be a question-and-answer session.

Algonquin Power & Utilities Corp. (AQN) Q1 2023 Earnings Call Transcript

News for Algonquin Power & Utilities Stock (AQN)