The reality is that nobody knows where Algonquin’s share price is heading, but the odds of a quick rebound seem remote
used to be a sweetheart stock: a solid utility with a lovely dividend. Then it took a hit and ever since has been going down like a torpedoed ship. I have hung on from the peak. Do you think it will return or is it time to cut it loose?
. In a bid to win back investor confidence, Algonquin is attempting to simplify its structure and transform itself into a pure-play regulated utility. In August, the company announced a deal to sell its renewable energy business, excluding hydro assets, to U.S.-based LS Power for up to US$2.5-billion. Algonquin also recently completed the sale of its 42.
One potential bright spot is that Algonquin currently has roughly a dozen rate cases before various public utility commissions. As a regulated water, gas and electric utility, Algonquin must apply to raise the rates it charges customers, which allows it to earn a return on the capital it invests in its utility infrastructure.
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