Algonquin Pwr Utils Stock Price, News & Analysis
Company Description
AQNU is the New York Stock Exchange symbol for Algonquin Power & Utilities Corp.'s equity units. Algonquin Power & Utilities Corp. ("AQN") is described as a diversified international generation, transmission, and distribution utility. The company is associated with the utilities sector and engages in activities that include renewable and conventional power generation as well as regulated utility services.
According to company disclosures, Algonquin Power & Utilities Corp. is the parent company of Liberty and has total assets measured in the billions of dollars. It indicates that it provides energy and water solutions through a portfolio of electric generation, transmission, and distribution utility investments. These investments serve over one million customer connections, largely in the United States and Canada. In addition, AQN states that it owns, operates, and/or has net interests in over 4 gigawatts of installed renewable energy capacity.
The company identifies itself as a diversified utility with both regulated and non-regulated operations. Earlier descriptions of Algonquin Power & Utilities Corp. refer to a North American generation, transmission, and distribution platform that includes rate-regulated water, electricity, and natural gas utility services. They also refer to a non-regulated generation business with interests in wind, solar, hydroelectric, and natural gas powered generating facilities in the United States and Canada.
Algonquin Power & Utilities Corp. notes that its common shares and certain preferred shares are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D. It also states that its common shares, Series 2018-A subordinated notes, Series 2019-A subordinated notes, and equity units are listed on the New York Stock Exchange under the symbols AQN, AQNB, and AQNU, respectively. This means AQNU represents equity units linked to the broader Algonquin Power & Utilities Corp. capital structure rather than ordinary common shares.
Company materials describe an emphasis on providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions. Within its renewable energy activities, Algonquin Power & Utilities Corp. has referenced wind and solar facilities and has discussed wind facilities located in U.S. states such as Pennsylvania and Illinois. These facilities are described as operating under renewable energy purchase agreements with large corporate counterparties.
Algonquin Power & Utilities Corp. also reports that it organizes its activities into a Regulated Services Group and a Renewable Energy Group. The Regulated Services Group includes electric, water, and natural gas utilities that operate under rate regulation in various jurisdictions, while the Renewable Energy Group includes contracted generation assets. The company has discussed growth from new rate implementations at specific utility systems and the commissioning of new wind facilities within its renewable energy operations.
From a financial reporting perspective, Algonquin Power & Utilities Corp. files reports as a foreign private issuer under the Securities Exchange Act of 1934 and uses Form 40-F for its annual reporting framework. It also furnishes interim information on Form 6-K, which can include unaudited financial statements, management’s discussion and analysis, certifications, and earnings press releases. These filings are incorporated by reference into various registration statements filed with U.S. securities regulators.
Algonquin Power & Utilities Corp. highlights non-GAAP financial measures such as Adjusted Net Earnings, Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA), and Adjusted Funds from Operations. The company explains that these measures are used to assess the performance of its business lines and provides reconciliations to the most directly comparable U.S. GAAP measures in its management discussion and analysis and related disclosures.
For investors reviewing AQNU, it is important to recognize that this symbol relates to equity units issued by Algonquin Power & Utilities Corp. and that the underlying business exposure is to a diversified utility and renewable energy platform. Detailed information about the structure of these equity units, their terms, and their relationship to Algonquin Power & Utilities Corp.’s other securities is typically provided in the company’s prospectuses and registration statements, as well as in its periodic and current reports filed with securities regulators.