Why Algonquin Power & Utilities Corp. (AQN) Skyrocketed On Tuesday

We recently published a list of 10 Stocks Leaving Wall Street in The Dust. In this article, we are going to take a look at where Algonquin Power & Utilities Corp. (NYSE:AQN) stands against other Tuesday’s best performers.

Algonquin Power surged by 15.83 percent on Tuesday to close at $6.22 apiece following an upbeat business outlook for the next two years.

As part of its “Back to Basics” customer-centric capital plan, Algonquin Power & Utilities Corp. (NYSE:AQN) issued its outlook guidance for the rest of the year through 2027, with adjusted net earnings per share of $0.30-$0.32 for 2025; $0.35 – $0.37 for 2026; and $0.42 – $0.46 for 2027.

The company also said that it would focus on organic capital investment, allocating a budget of $2.5 billion over the next two years. No equity issuance is expected during the said periods.

“Algonquin possesses the foundational elements of a premier pure-play utility, and the opportunity to create meaningful value is what drew me to the Company,” said Algonquin Power & Utilities Corp. (NYSE:AQN) CEO Rod West.

“While I am pleased with the progress underway, I am resolute in sharpening the company’s ability to excel at the basics. The plan for the future is shaped around intertwining operational excellence and stakeholder engagement in the DNA of the company to achieve better outcomes for all stakeholders,” he added.

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Disclosure: None. This article is originally published at Insider Monkey.