Algonquin: Atlantica Sustainable Sale Looks Probable Soon [Seeking Alpha]
Algonquin Power & Utilities Corp. Corporate Units (AQNU)
Company Research
Source: Seeking Alpha
AQN did not provide guidance for 2024 due to its focus on selling its renewable business. We look at how this is likely to play out for Algonquin and the related company, Atlantica Sustainable. I do much more than just articles at Conservative Income Portfolio: Members get access to model portfolios, regular updates, a chat room, and more. Learn More » In our last coverage of Algonquin Power & Utilities Corp. ( NYSE: AQN TSX: AQN:CA ), we remained optimistic while the bulk of the income-chasing crowd had thrown in the towel. That said, we did not have high hopes for our total return prospects. Valuation push can only go so far when earnings estimates keep falling. We maintain our buy rating from the original $5.60 and suggest investors keep an eye on the exits. We will move to a "hold" if $7.00 is hit at any point. Our personal position here is in Atlantica Sustainable ( AY ) where AQN has a controlling stake. We think that one offers a slightly better setup at this point.
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News
- Algonquin Power & Utilities Corp. (NYSE:AQN) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Starboard Value Nominates Three Highly Qualified and Independent Candidates for Election to Algonquin Power's Board of Directors [Yahoo! Finance]Yahoo! Finance
- Algonquin Power & Utilities Corp. (NYSE:AQN) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance