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

Algonquin Power & Utilities Corp. (TSE:AQN) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$8.47 and traded as high as C$8.70. Algonquin Power & Utilities shares last traded at C$8.60, with a volume of 3,705,706 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AQN shares. TD Securities cut their price objective on shares of Algonquin Power & Utilities from C$6.50 to C$6.00 and set a “hold” rating on the stock in a report on Monday, March 9th. Raymond James Financial raised shares of Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 9th. National Bank Financial raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. Finally, Scotiabank upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 16th. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus 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$6.66 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 1.07 and a beta of 1.20. The company has a quick ratio of 0.37, a current ratio of 1.00 and a debt-to-equity ratio of 140.99. The company’s fifty day moving average is C$8.97 and its 200 day moving average is C$8.47.

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