Algonquin Power & Utilities (TSE:AQN) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Algonquin Power & Utilities Corp. (TSE:AQN) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$8.01 and traded as high as C$8.18. Algonquin Power & Utilities shares last traded at C$8.12, with a volume of 1,503,605 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AQN shares. Desjardins raised Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, September 30th. TD Securities reduced their target price on shares of Algonquin Power & Utilities from C$6.50 to C$6.00 and set a “hold” rating on the stock in a research report on Monday, August 11th. Finally, Janney Montgomery Scott raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$6.38.

Algonquin Power & Utilities Price Performance

The firm has a fifty day moving average price of C$8.23 and a two-hundred day moving average price of C$8.01. The stock has a market capitalization of C$6.24 billion, a P/E ratio of -270.67, a PEG ratio of 1.07 and a beta of 1.22. The company has a debt-to-equity ratio of 154.35, a quick ratio of 0.37 and a current ratio of 0.92.

Algonquin Power & Utilities (TSE:AQN) last posted its quarterly earnings data on Friday, November 7th. The company reported C$0.09 EPS for the quarter. The company had revenue of C$811.36 million during the quarter. Algonquin Power & Utilities had a negative return on equity of 19.30% and a negative net margin of 39.22%. As a group, analysts expect that Algonquin Power & Utilities Corp. will post 0.4650555 EPS for the current fiscal year.

About Algonquin Power & Utilities

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.