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

Algonquin Power & Utilities Corp. (TSE:AQN) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$8.34 and traded as high as C$9.33. Algonquin Power & Utilities shares last traded at C$9.31, with a volume of 2,445,759 shares traded.

Wall Street Analysts Forecast Growth

AQN has been the subject of a number of research analyst reports. Janney Montgomery Scott raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 10th. Scotiabank raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 16th. Finally, National Bank Financial upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Algonquin Power & Utilities presently has an average rating of “Buy” and an average target price of C$6.38.

Algonquin Power & Utilities Price Performance

The stock has a market cap of C$7.15 billion, a price-to-earnings ratio of -310.33, a price-to-earnings-growth ratio of 1.07 and a beta of 1.12. The company has a quick ratio of 0.37, a current ratio of 0.92 and a debt-to-equity ratio of 154.35. The company’s 50-day moving average is C$8.84 and its 200-day moving average is C$8.34.

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.