Algonquin Power & Utilities Corp. 6.20% Fixed-to-Floating Subordinated Notes, Series 2019-A due 2079 research snapshot
AQNB AI stock analysis covers Algonquin Power & Utilities Corp. Series 2019-A fixed-to-floating subordinated notes, not AQN common stock. At the August 2, 2026 cutoff, the latest reference close available to this research was $25.71 on July 31, 2026. AQNB has $25 denominations, $350 million original aggregate principal amount, and a floating coupon that resets quarterly through July 2029 at three-month SOFR plus 0.26161% plus 4.01%. The relevant analysis is issuer credit, interest-rate sensitivity, redemption risk, and trading liquidity, not a common-stock earnings forecast. This AQNB AI stock forecast uses scenarios rather than a precise price prediction and is informational research, not investment advice.
Current price
$25.71 reference close
Market cap
About $359.9 million estimated market value
AI score
61 / 100
Rating
Floating-rate income note with subordinated issuer-credit and call risk
Trend status
Near $25.71, just above the 50-day moving-average snapshot and just below the 200-day snapshot
Data cutoff (updated monthly)
August 4, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | AQNB is a debt claim on Algonquin Power & Utilities, whose Liberty business operates regulated electric, gas, water, wastewater, transmission, and generation assets. Noteholders rely on issuer cash flow and capital access, not common-equity ownership rights. | High |
| Moat | The issuer benefits from regulated licenses, rate-base assets, local utility franchises, and essential-service demand. Those features support credit quality but do not eliminate leverage, regulatory, weather, or refinancing risk. | Medium-high |
| Management | Management should be assessed on regulatory execution, refinancing, rate-case outcomes, capital spending discipline, and creditor protection while Algonquin completes its pure-play regulated-utility transition. | Medium |
| Financial trend | Algonquin reported Q1 2026 net earnings of $83.1 million and adjusted net earnings of $99.6 million, and it closed an undrawn $1.15 billion delayed-draw term facility after quarter end. Regulatory settlements and rate decisions can support future utility revenue, while refinancing and restructuring remain material. | High |
| Valuation | AQNB should be assessed by coupon reset mechanics, current yield, credit spread, par call terms, and duration. A common-stock PE, EPS, or market capitalization is not a valuation metric for the note. | High |
| Technical trend | The latest $25.71 reference close was just above the reported 50-day $25.69 moving-average snapshot and just below the reported 200-day $25.79 snapshot. The short history and modest volume make live quotes more important than static signals. | Medium-low |
| Risk level | Risk is medium-high because AQNB is unsecured and subordinated, has a 2079 maturity, can be redeemed at par, and may be sensitive to interest rates, utility regulation, refinancing conditions, and liquidity. | High |
| AI confidence | Research confidence is high for disclosed terms and issuer data, but medium for quote discovery, technical indicators, and yield-to-call calculations that require live prices and accrued-interest inputs. | Medium |
| Investment certainty | Investment certainty is low to medium because long duration, floating-rate resets, call optionality, and issuer-credit outcomes can outweigh the current coupon. | Low-medium |
AQNB AI stock forecast
The AQNB AI stock forecast is a rate and credit scenario range for a subordinated note, not a company price target. At the $25.71 reference price, the note traded modestly above its $25 par value. Price behavior will depend on the quarterly SOFR reset, Algonquin credit quality, market rates, call expectations, and quoted liquidity. Equity-style EPS and three-scenario PE valuation are not applicable to this debt security.
$25.50 to $27
More likely if Algonquin sustains regulated-utility execution, refinancing remains orderly, credit spreads tighten, SOFR supports the reset coupon, and investors expect the note to remain outstanding rather than be called immediately at par.
$24.50 to $26.50
More likely if issuer results remain stable and the market prices AQNB near par while balancing a floating coupon against call optionality and long subordinated duration.
$22 to $25
More likely if issuer credit metrics weaken, rate or credit volatility rises, regulatory execution disappoints, refinancing costs increase, or limited liquidity widens the bid and ask spread.
AQNB AI technical analysis
AQNB AI technical analysis uses the latest reference close available to this research, $25.71 on July 31, 2026. A ChartMill snapshot at the cutoff listed a 50-day moving average of $25.69, a 200-day moving average of $25.79, and an RSI of 62.45. For a thinly traded fixed-to-floating subordinated note, live bid, ask, accrued interest, yield-to-call, and quoted size are more useful than a stale chart indicator.
| Level | Value | Why it matters |
|---|---|---|
| Reference price | $25.71 | StockAnalysis listed this regular-session close on July 31, 2026. It is the latest quote available to this research at the August 2 cutoff. |
| Near support | $25.30 | The reported 52-week low is a reference level, not a guaranteed floor. A lower quote can reflect a wider credit spread or thin trading. |
| Near resistance | $26.46 | The reported 52-week high is a reference level. A move above it should be checked against live bid and ask depth. |
| Par and call reference | $25.00 | AQNB was issued in $25 denominations and is redeemable at the issuer option at principal amount plus accrued interest from July 1, 2024, subject to the note terms. |
| 50-day moving average | About $25.69 | ChartMill snapshot at the cutoff. AQNB traded marginally above this average, so it is a reference rather than a stand-alone signal. |
| 200-day moving average | About $25.79 | ChartMill snapshot at the cutoff. AQNB traded slightly below this average, but live data is required before acting on it. |
| Momentum | Neutral to slightly positive | RSI at 62.45 and a positive daily MACD support a neutral-to-slightly-positive reading, while sparse daily trading limits reliability. |
| Volume and liquidity | Check live bid, ask, and size | StockAnalysis showed 27,706 shares at the July 31 reference close and ChartMill reported average daily volume near 25.6 thousand. Use limit orders and current quoted depth because execution can matter more than chart patterns. |
| Volatility | Low | ChartMill reported ATR around 0.37% of price. AQNB can still react to SOFR expectations, Treasury yields, issuer credit, redemption expectations, utility regulation, and market liquidity. |
| Invalidation | Break below $25.30 with weaker credit evidence | A new range low combined with weaker issuer liquidity, refinancing, or regulatory results would weaken an income thesis. |
AQNB AI trading strategy
The AQNB AI trading strategy is a monitoring framework for a long-dated fixed-to-floating subordinated note. It is not personalized advice and should not be used without live quotes, accrued-interest checks, yield calculations, tax review, and position-size limits.
Compare live AQNB current yield, reset coupon, yield-to-call assumptions, and yield-to-maturity assumptions with other Algonquin and utility debt. Review issuer liquidity, debt maturities, regulatory outcomes, and any redemption notice.
Do not rely only on the stated coupon. Reassess if issuer credit, refinancing access, or rate-case execution weakens, or if the bid and ask spread makes an exit impractical.
If AQNB approaches the $25.30 range low, distinguish broad rate pressure from Algonquin-specific credit risk. Use live SOFR, Treasury yields, credit spreads, accrued interest, and quoted depth before treating a lower price as an opportunity.
A lower quote is not a signal by itself. Avoid averaging down when the move reflects issuer-credit deterioration, a refinancing concern, or impaired liquidity.
Track regulated-services earnings, rate-case decisions, parent liquidity, total debt, refinancing, capital expenditures, common dividends, and any notice affecting AQNB interest or redemption. Q2 2026 results are scheduled for August 7, 2026.
Reduce confidence if financing needs rise faster than cash generation, regulatory outcomes disappoint, or new debt and capital actions weaken subordinated creditor protection.
Investment research summary
AQNB holders provide subordinated capital to Algonquin. The issuer earns regulated returns by operating essential electric, gas, water, wastewater, and related utility assets, while noteholders receive interest under the security terms.
Algonquin utility franchises, regulated licenses, rate-base assets, local infrastructure, and essential-service relationships create practical barriers to entry. The protection is subject to regulatory outcomes, allowed returns, cost recovery, and capital availability.
The AQNB thesis fails if a floating coupon and near-par price are mistaken for safety while credit spreads widen, refinancing costs rise, rate cases disappoint, or thin liquidity creates losses. AQNB is subordinated and its 2079 maturity makes duration and call risk material.
For AQNB, management quality means protecting liquidity, managing debt maturities, funding regulated investment prudently, and executing rate cases. Algonquin closed an undrawn $1.15 billion delayed-draw facility after Q1 2026 and refinanced part of its senior debt with new Liberty Utilities notes in May 2026. Common-share returns matter only when they affect the issuer balance sheet and creditor confidence.
Electric, gas, water, and wastewater systems benefit from essential demand and infrastructure investment needs. They remain exposed to interest rates, regulatory lag, weather, affordability pressures, capital spending, and changing energy policy.
AQNB traded modestly above $25 par at the reference close. That does not create a clear margin of safety because the issuer can call the notes at par, the coupon resets with SOFR, and noteholders rank below senior debt. Compare live yield-to-call and credit spread before drawing a conclusion.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| AQNB reference price | $25.71 at the July 31, 2026 close | StockAnalysis AQNB quote snapshot | August 2, 2026 |
| Estimated AQNB market value | $359.94 million, $25.71 times 14.0M $25 denominations | Algonquin annual filing plus financial_rigor.py market-value check | August 2, 2026 |
| Security terms | $350M original principal, $25 denominations, 2079 maturity, and quarterly floating coupon reset from July 1, 2024 | Algonquin 2025 annual information form | August 2, 2026 |
| Coupon reset through July 2029 | Three-month SOFR plus 0.26161% credit spread adjustment plus 4.01%, resetting quarterly | Algonquin 2025 annual information form | August 2, 2026 |
| Q1 2026 Algonquin net earnings | $83.1 million GAAP net earnings and $99.6 million adjusted net earnings | Algonquin Q1 2026 earnings release filed with the SEC | August 2, 2026 |
| Issuer refinancing facility | $1.15 billion delayed-draw term facility, undrawn and available, maturing April 17, 2028 | Algonquin Q1 2026 financial statements and Q1 2026 earnings release | August 2, 2026 |
| New Liberty Utilities senior notes | $650 million senior notes due 2031 and $500 million senior notes due 2036 priced in May 2026 | Algonquin press release via StockAnalysis news feed | August 2, 2026 |
| Q2 2026 earnings date | August 7, 2026, after this data cutoff | Algonquin Q2 2026 results and conference call notice filed with the SEC | August 2, 2026 |
| Technical reference levels | $25.30 to $26.46 52-week range, 50-day SMA $25.69, 200-day SMA $25.79, and RSI 62.45 | StockAnalysis quote and ChartMill technical snapshots | August 2, 2026 |
| Dividend and yield context | StockAnalysis reported an annual dividend near $2.04 with a yield near 7.93%, with the next ex-dividend date on September 15, 2026 | StockAnalysis AQNB dividend page | August 2, 2026 |
This AQNB AI stock analysis is an informational research tool only. It is not investment advice, financial planning, tax advice, or a recommendation to buy, sell, or hold AQNB or Algonquin securities. Forecast scenarios use available data as of August 2, 2026, may be wrong, and can change with live prices, SOFR, rates, credit conditions, issuer disclosures, liquidity, redemptions, or payment decisions.
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