Why Algonquin Power & Utilities Corp. (AQN) Crashed On Wednesday

We recently published a list of Investors Are Dumping These 10 Stocks. In this article, we are going to take a look at where Algonquin Power & Utilities Corp. (NYSE:AQN) stands against other worst-performing stocks on Wednesday.

Algonquin Power dropped its share prices by 4.82 percent on Wednesday to close at $5.92 apiece following an investment firm’s downgrade of its stock.

On Wednesday, National Bank downgraded Algonquin Power & Utilities Corp. (NYSE:AQN) to “sector perform” from “outperform” previously, but maintained its price target at $6.75.

According to National Bank, its decision was based on the company’s three-year earnings per share reset, which aligns with consensus estimates for 2025 and 2026, and ahead for 2027, but lags behind its previous forecasts due to capital expenditures, Hypothetical Liquidation at Book Value (HLBV), and rate case awards.

According to Algonquin Power & Utilities Corp. (NYSE:AQN), it budgeted $2.5 billion into regulated assets over the next three years, while increasing its rate base to $9.1 billion by 2027. 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.

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