Algonquin Power & Utilities Outperforms at National Bank Financial

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Algonquin Power & Utilities ($TSX:AQN) is a publicly traded Canadian holding company that owns and operates a diversified portfolio of renewable energy generation facilities and utilities in North America. National Bank Financial has upgraded Algonquin Power & Utilities to Outperform. Algonquin Power & Utilities has a strong track record of delivering shareholder value through its diversified portfolio of renewable energy assets and utilities.

The company has a long-term growth strategy focused on delivering sustainable, long-term value for shareholders. The upgrade to Outperform is based on the company’s strong fundamentals, attractive valuation, and growth prospects.

Share Price

On Friday, Algonquin Power & Utilities stock opened at CA$15.0 and closed at CA$14.7, down by 1.0% from its last closing price of CA$14.9. Despite this slight dip, the company outperformed at National Bank Financial, with analysts giving it a ” outperform ” rating. Reasons for the positive rating included ALG’s strong growth prospects, as well as its “attractive” dividend yield. Analysts also noted that the company’s share price had underperformed the market in recent months, making it a “good time” to buy.

VI Analysis

A company’s fundamentals reflect its long term potential. The VI app makes it easy to see the key fundamental indicators for a company like ALGONQUIN POWER & UTILITIES. Based on the VI Star Chart, ALGONQUIN POWER & UTILITIES is strong in dividend, growth, and medium in asset, profitability. ALGONQUIN POWER & UTILITIES has an intermediate health score of 4/10 with regard to its cashflows and debt.

This means that the company is likely to safely ride out any crisis without the risk of bankruptcy. This means that it has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Cheetah companies are usually of interest to investors who are looking for high growth potential, but who are also willing to accept higher risk.

Summary

Merer said the Canadian utility company’s recent acquisitions and strong organic growth prospects warrant a higher valuation. Shares of Algonquin Power & Utilities were up nearly two per cent in early trading on the Toronto Stock Exchange.