Algonquin Power & Utilities (TSX:AQN.PR.D.PFD) Momentum Rank : 5 (As of Apr. 26, 2024)

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What is Algonquin Power & Utilities Momentum Rank?

Algonquin Power & Utilities has the Momentum Rank of 5.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of Algonquin Power & Utilities's Momentum Rank

For the Utilities - Renewable subindustry, Algonquin Power & Utilities's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Algonquin Power & Utilities's Momentum Rank Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Algonquin Power & Utilities's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Algonquin Power & Utilities's Momentum Rank falls into.

Algonquin Power & Utilities Momentum Rank Related Terms

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Algonquin Power & Utilities (TSX:AQN.PR.D.PFD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » Algonquin Power & Utilities Corp (TSX:AQN.PR.D.PFD) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

AQNU:USA AGQPF.PFD:USA AQN:USA 751:Germany AQN.PR.A.PFD:Canada AQN:Canada

Address

354 Davis Road, Oakville, ON, CAN, L6J 2X1

Website

https://www.algonquinpower.com

Algonquin Power & Utilities Corp, a parent company of Liberty, is a diversified international generation, transmission, and distribution utility with over $16 billion of total assets. Through its two business groups, the Regulated Services Group and the Renewable Energy Group, AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of electric generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. AQN provides renewable energy through its portfolio of long-term contracted wind, solar, and hydroelectric generating facilities.

Algonquin Power & Utilities (TSX:AQN.PR.D.PFD) Headlines

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