Algonquin Power & Utilities (TSE:AQN) Shares Down 10.4% – Here’s What Happened

Shares of Algonquin Power & Utilities Corp. (TSE:AQN) dropped 10.4% during trading on Friday . The company traded as low as C$8.13 and last traded at C$8.46. Approximately 1,804,806 shares traded hands during trading, a decline of 15% from the average daily volume of 2,126,834 shares. The stock had previously closed at C$9.44.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AQN shares. National Bank Financial raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. Scotiabank raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 16th. 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. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$6.38.

Algonquin Power & Utilities Stock Performance

The company has a debt-to-equity ratio of 138.56, a quick ratio of 0.37 and a current ratio of 1.23. The stock’s 50 day moving average price is C$8.97 and its 200 day moving average price is C$8.41. The company has a market capitalization of C$6.41 billion, a P/E ratio of -278.33, a price-to-earnings-growth ratio of 1.07 and a beta of 1.20.

Algonquin Power & Utilities (TSE:AQN) last announced its earnings results on Friday, March 6th. The company reported C$0.08 earnings per share for the quarter. The business had revenue of C$829.86 million during the quarter. Algonquin Power & Utilities had a negative net margin of 1.11% and a negative return on equity of 0.57%. As a group, equities analysts expect that Algonquin Power & Utilities Corp. will post 0.4650555 EPS for the current 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.