@Pacifica Yield Thanks for the link.
Still not sure there will be one as the stock converts on 06/15/2024 (and there's no info on the company site, either way)

@Centrino Yeah I see AY as just being caught up in the lift from NEE/NEP results, although I would love to hear what is up with AY.

AY broke a 1-year down trend resistance line this morning and looks to have broken out on considerable volume. I wonder if there might finally be some movement in negotiations for a sale of AQN's stake.

Someone should list the water utes they hold and how big they are.
What percent of market cap do they hold?

@Lobeta Anyone who bought back in April 2022 will be waiting until The Rapture for this one to work out.

@Rob G. in Vegas "It is OK - nobody gets them all correct."

True...and some admit a mistake while others do not. As Phil implies, this will ultimately work out...just need to wait long enough?

@Lobeta Pricing wise he likely lost, but overall ended up in the green with the dividend payments.

But obviously it was a horrible recommendation, no matter how positively he tries to spin it. It is OK - nobody gets them all correct.

@Phil in OKC "I sold my AQNU position at a profit, including dividends."

Wow, that was quite the trick. Looks like there was really very little opportunity to do so, especially for a buy and collect income-r. Must have timed everything perfectly. Good job!

@Lobeta Any price below $15 will result in 3.33 shares of AQN for each share of AQNU. I think 3.33 shares is more positive than 2.77 shares. The market price of AQN is of no concern right now. It is almost certain it will remain below 15 by the time AQNU is converted. A lower interest rate environment will be a positive for AQN as well as all of the utilities, and the stock price will surely rise over time. I sold my AQNU position at a profit, including dividends. I find no pleasure as a whiner or in rubbing someone's nose in the dirt with a haughty "I told you so."

@Phil in OKC "AQNU will convert at the high end (3.33) of common shares of AQN. That is a positive..."

So if AQN is currently trading around $6.21 per share, an investor will get $20.68 worth of AQN stock for a preferred they may have purchased at $50? Hmmm...that doesn't really sound so positive?

@Phil in OKC Bad luck? Please. A much more detailed analysis of the AQN highly over-leveraged balance sheet at the time of the AQNU buy recommendation was sorely needed. It is almost always excessive leverage that will take down a company.

Anyone who has held onto AQNU all the way down since April of 2022 is the kind of investment retirees have nightmares about....assuming it hasn't kept them up at night in the first place.

@Trustnoonetoday The FED raising interest rates so aggressively was the catalyst that caused the Kentucky Power deal to become derailed. 1Billion in equity issued with no equity. Bad luck on the AQN purchase timing is all I can see. AQNU will convert at the high end (3.33) of common shares of AQN. That is a positive, and so will be rate cuts by the FED for the patient investor.

@Trustnoonetoday Correct. I believe this higher yield service does much better on straight preferred and baby bond selections.

Once they venture into anything that is related to common shares, it can lead to trouble.

@Rob G. in Vegas Mandatory convertible. But that is the best possible thing one can learn here.

@Phil in OKC Maybe buying AQNU near $50 when it was recommended in this article, with the current price at $21.50?

Perhaps best to have your guy stay out of the "mandatory convertible" securities market going forward.

@Cdn_divman When you reach for these high yields, you have to expect to get burned from time to time. Comes with the territory.

@kmeixner.km Generally, yes. The recession outlook seems to come and go so often over the past few years that I just stopped betting on it. AY's share price is under pressure probably due to the increasing possibility of few or no rate cuts in 2024, with interest rates remaining elevated for several years. In that scenario, AY may need to cut their dividend when much of their low interest rate debt comes due in 2025-2026.

As an AY holder here, I certainly hope AY can be sold in whole to someone like BEP. AQN and AY seem like they're in an advantaged stage of negotiations to do something like this, but there are doubts from the market, driving the price well below where a deal is likely to settle. I think TV is right that the company with be taken out in the $25 range. Obviously, the more they can get, the better. It's currently priced at a big discount to BEP / BEPC, for good reason (lack of growth and debt concerns) but AY would be accretive to BEP at the right price.