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    AQN   CA0158571053

ALGONQUIN POWER & UTILITIES CORP.

(AQN)
  Report
Delayed Toronto Stock Exchange  -  04:00 2022-12-09 pm EST
9.780 CAD   -0.31%
12/07RBC Capital Markets Says Canadian Regulated Utilities Underperform Broader Market
MT
11/15Algonquin Power & Utilities Outperform Rating Maintained at Credit Suisse After Weak Q3 Report; Price Target Cut to US$12.00
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11/14TSX retreats from 11-week high as oil prices slide
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Algonquin Power Sells Stakes in Canada, U.S. Wind Projects

10/03/2022 | 07:40am EST

By Adriano Marchese


Algonquin Power & Utilities Corp. said it agreed to sell ownership interests in a portfolio of operating wind projects in Canada and the U.S. to international infrastructure investment manager InfraRed Capital Partners.

The Canadian renewable energy and regulated utility conglomerate said Monday that it will sell a 49% ownership interest in three operating wind facilities in the U.S. with a total of 551 megawatt of installed capacity and sell an 80% ownership stake in a 175 megawatt operating wind facility in Canada.

Algonquin Power expects to receive about $277 million for its U.S. facilities and around 107 million Canadian dollars, the equivalent of US$77.4 million, for the Canadian facility.

Algonquin Power said it will continue to oversee day-to-day operations, while providing management services to the facilities in both countries.

The purchaser, InfraRed Capital Partners, is part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life Financial Inc.

The transaction is expected to close in the fourth quarter of this year.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

10-03-22 0739ET

Stocks mentioned in the article
ChangeLast1st jan.
ALGONQUIN POWER & UTILITIES CORP. -0.31% 9.78 Delayed Quote.-46.31%
SUN LIFE FINANCIAL INC. 0.83% 63.25 Delayed Quote.-10.91%
All news about ALGONQUIN POWER & UTILITIES CORP.
12/07RBC Capital Markets Says Canadian Regulated Utilities Underperform Broader Market
MT
11/15Algonquin Power & Utilities Outperform Rating Maintained at Credit Suisse After Weak Q3..
MT
11/14TSX retreats from 11-week high as oil prices slide
RE
11/14Sector Update: Energy Stocks Hit by Late Slump, Giving Back Midday Advance
MT
11/14Sector Update: Energy Stocks Higher Amid Weaker Crude Oil Prices
MT
11/14Algonquin Power & Utilities : Investor Presentation - November 2022
PU
11/14TD Securities Downgrades Algonquin Power & Utilities to Hold From Buy
MT
11/14Algonquin Power & Utilities Downgrade to Market Perform by BMO on Q3 Earnings and Guida..
MT
11/14National Bank of Canada Cuts Algonquin's Price Target On Weak Outlook
MT
11/14Algonquin Power Declines 12%, Downgraded at RBC and TD
MT
More news
Analyst Recommendations on ALGONQUIN POWER & UTILITIES CORP.
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Financials (USD)
Sales 2022 2 692 M - -
Net income 2022 -5,45 M - -
Net Debt 2022 8 159 M - -
P/E ratio 2022 -431x
Yield 2022 9,87%
Capitalization 4 906 M 4 906 M -
EV / Sales 2022 4,85x
EV / Sales 2023 5,01x
Nbr of Employees 3 445
Free-Float 99,9%
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Technical analysis trends ALGONQUIN POWER & UTILITIES CORP.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 14
Last Close Price 7,18 $
Average target price 10,61 $
Spread / Average Target 47,7%
EPS Revisions
Managers and Directors
Arun Banskota President, Chief Executive Officer & Director
Darren G. Myers Chief Financial Officer
Kenneth Moore Chairman
Colin Michael Penny Executive VP-IT & Digital Transformation
Johnny Johnston Chief Operating Officer
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