Reported 2 days ago
On Wednesday, Algonquin Power & Utilities Corp. (NYSE:AQN) saw its stock price fall by 4.82% to close at $5.92 after being downgraded by National Bank from 'outperform' to 'sector perform'. The downgrade followed a reset of the company's earnings per share projections for the coming years, attributed to increasing capital expenditures and rate case awards. Despite budgeting $2.5 billion into regulated assets and increasing its rate base to $9.1 billion by 2027, the concerns over its future financial performance led to the decline.
Source: YAHOO