Algonquin Power & Utilities (TSE:AQN) Reaches New 12-Month High – Should You Buy?

Algonquin Power & Utilities Corp. (TSE:AQN)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as C$9.37 and last traded at C$9.35, with a volume of 122237 shares. The stock had previously closed at C$9.28.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AQN. National Bank Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Scotiabank upgraded 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 report on Monday, November 10th. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Algonquin Power & Utilities has a consensus rating of “Buy” and a consensus price target of C$6.38.

Algonquin Power & Utilities Price Performance

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 company has a 50 day simple moving average of C$8.71 and a 200 day simple moving average of C$8.29. The stock has a market cap of C$7.14 billion, a P/E ratio of -310.00, a PEG ratio of 1.07 and a beta of 1.12.

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.