Algonquin Power & Utilities (TSE:AQN) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Algonquin Power & Utilities Corp. (TSE:AQN) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$8.54 and traded as high as C$8.68. Algonquin Power & Utilities shares last traded at C$8.67, with a volume of 2,309,918 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently commented on AQN shares. TD Securities lowered their price target on Algonquin Power & Utilities from C$6.50 to C$6.00 and set a “hold” rating for the company in a research note on Monday, March 9th. Scotiabank upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 16th. Raymond James Financial upgraded Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 9th. Barclays set a C$10.00 target price on Algonquin Power & Utilities and gave the company an “overweight” rating in a research note on Wednesday, April 1st. Finally, National Bank Financial upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$7.58.

Algonquin Power & Utilities Stock Performance

The company has a market cap of C$6.66 billion, a price-to-earnings ratio of 39.41, a price-to-earnings-growth ratio of 1.07 and a beta of 1.27. The company has a debt-to-equity ratio of 140.99, a current ratio of 1.00 and a quick ratio of 0.37. The stock has a 50-day moving average price of C$8.91 and a 200 day moving average price of C$8.54.

Algonquin Power & Utilities (TSE:AQN) last released its quarterly earnings results on Friday, March 6th. The company reported C$0.08 EPS for the quarter. Algonquin Power & Utilities had a return on equity of 3.88% and a net margin of 7.42%.The company had revenue of C$829.86 million for the quarter. As a group, analysts anticipate 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.