Forget Algonquin Stock: Buy This Magnificent Utilities Stock Instead [Yahoo! Finance Canada]
Algonquin Power & Utilities Corp. Common Shares (AQN)
Last algonquin power & utilities corp. common shares earnings: 2/27 07:54 pm
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Source: Yahoo! Finance Canada
Algonquin Power & Utilities TSX:AQN ) has raised some red flags recently, both with its declining stock performance and dividend cut, which could be a concern for income-focused investors. While it has been a popular choice in the past, the instability in its earnings and financials suggests that other utility stocks with more stability might be better long-term options. Today, let's look at some options. What happened? Algonquin has been showing signs of negative momentum on the TSX. This may raise concerns for investors. Over the past few quarters, the company has struggled to maintain steady growth, reporting a decrease of 20% in adjusted net earnings for the first quarter (Q1) of 2024. Additionally, while net utility sales saw a modest 6% increase, the drop in earnings per share (EPS) by 18% compared to the previous year signals financial strain. Q2 2024 also highlighted some of these challenges. Adjusted earnings before interest, taxes, depreciation, and amortization (EBIT
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