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

Shares of Algonquin Power & Utilities Corp. (TSE:AQN) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$8.21 and traded as high as C$9.06. Algonquin Power & Utilities shares last traded at C$8.93, with a volume of 1,517,895 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AQN. Natl Bk Canada upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. Scotiabank upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 16th. Finally, Janney Montgomery Scott upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$6.38.

Algonquin Power & Utilities Stock Down 1.0%

The company’s 50 day simple moving average is C$8.55 and its 200-day simple moving average is C$8.21. The company has a current ratio of 0.92, a quick ratio of 0.37 and a debt-to-equity ratio of 154.35. The firm has a market cap of C$6.86 billion, a P/E ratio of -297.67, a PEG ratio of 1.07 and a beta of 1.15.

Algonquin Power & Utilities (TSE:AQN) last posted its earnings results on Friday, November 7th. The company reported C$0.09 EPS for the quarter. The business had revenue of C$811.36 million during the quarter. Algonquin Power & Utilities had a negative net margin of 39.22% and a negative return on equity of 19.30%. Research analysts forecast that Algonquin Power & Utilities Corp. will post 0.4650555 earnings per share 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.