Algonquin Power Stock Price, News & Analysis

Algonquin Power & Utilities Corp. (AQN) has announced the release date for its fourth quarter and full year 2021 financial results on March 3, 2022, after market close. A conference call will follow on March 4, 2022, at 10:00 a.m. ET, featuring President Arun Banskota and CFO Arthur Kacprzak. Algonquin, with over $16 billion in total assets, operates in the renewable energy sector with over 4 GW of installed capacity, catering to over one million customer connections mainly in the U.S. and Canada.

Algonquin Power & Utilities Corp. (AQN) announced its pricing for two public offerings totaling US$750 million in the U.S. and C$400 million in Canada. Both offerings consist of junior subordinated notes due January 18, 2082. The net proceeds will primarily finance the company's acquisition of Kentucky Power Company, while short-term proceeds will reduce outstanding credit facilities. The offerings are set to close on or about January 18, 2022.

Algonquin Power & Utilities Corp. (AQN) has announced plans for two underwritten public offerings: U.S. dollar denominated junior subordinated notes series 2022-B and Canadian dollar denominated junior subordinated notes series 2022-A, both due in 2082. The offerings aim to partially finance the acquisition of Kentucky Power Company and its related transmission company, while initially reducing existing credit facility debts. The offerings are not contingent on each other, and there are no guarantees of completion.

Algonquin Power & Utilities Corp. (AQN) has completed the acquisition of New York American Water Company for approximately $608 million. This acquisition, conducted by Liberty Utilities, enhances AQN's presence in the southeastern New York water utility market, serving over 125,000 customer connections. The acquisition is expected to improve local service and employment through the reintegration of customer service operations back to Long Island. AQN aims to leverage its expertise in utility operations for better customer satisfaction in the region.

Algonquin Power & Utilities Corp. (AQN) hosted its annual Investor Day, detailing a robust capital plan of $12.4 billion for 2022-2026, a significant increase from the previous plan. The company is poised to enhance its greenfield pipeline with over 600 MW of new projects, including solar and wind developments in the U.S. AQN anticipates Adjusted Net Earnings per share between $0.72 and $0.77 for fiscal year 2022, projecting a 7%-9% growth rate for the next five years. Approximately 70% of the capital will be allocated to its Regulated Services Group, emphasizing their commitment to sustainability.

Algonquin Power & Utilities Corp. (AQN) will host its annual Analyst and Investor Day via webcast on December 14, 2021, from 9:00 a.m. to 11:30 a.m. EST. President Arun Banskota and CFO Arthur Kacprzak will provide a strategic overview and financial outlook alongside the executive team. Access the webcast at https://webinars.vantagevenues.com/algonquin-investor-day-2021 or dial in toll-free at 1-833-670-0721 using passcode 9180565. AQN, with over $16 billion in total assets and a strong renewable energy portfolio, emphasizes sustainable energy solutions.

Algonquin Power & Utilities Corp. (AQN) has declared a fourth-quarter 2021 common share dividend of US$0.1706, payable on January 14, 2022, to shareholders of record on December 31, 2021. For Canadian dollar equivalents, the amount is C$0.2124. Additionally, C$0.32263 and C$0.31819 dividends for Series A and D preferred shares will be paid on December 31, 2021. The dividends qualify as eligible dividends under Canadian tax law.

Algonquin Power & Utilities Corp. (AQN) reported a 40% increase in Q3 2021 revenues, totaling $528.6 million, compared to the same quarter in 2020. Adjusted EBITDA rose 27% to $252.0 million, while Adjusted Net Earnings increased 11% to $97.6 million. However, net earnings attributable to shareholders decreased significantly, resulting in a per-share loss of $0.05. AQN has announced the acquisition of Kentucky Power Company and Kentucky Transmission Company for $2.846 billion, alongside plans to issue an C$800 million share offering to finance this acquisition.

Algonquin Power & Utilities Corp. (AQN) announced the acquisition of Kentucky Power Company and AEP Kentucky Transmission Company for approximately $2.846 billion, including $1.221 billion in debt. This strategic move is expected to enhance AQN's regulated asset base by over $2 billion, increase its customer connections to 1.4 million, and boost its Adjusted Net Earnings per share. The acquisition aligns with AQN's commitment to achieve net-zero emissions by 2050, utilizing its expertise to transition Kentucky Power's generation from fossil fuels to renewable sources.