Algonquin Power & Utilities (TSE:AQN) Reaches New 1-Year High – Should You Buy?

Algonquin Power & Utilities Corp. (TSE:AQN) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$27.00 and last traded at C$8.31, with a volume of 212383 shares. The stock had previously closed at C$8.25.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. TD Securities decreased their price target on shares of Algonquin Power & Utilities from C$6.50 to C$6.00 and set a “hold” rating for the company in a research 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. Barclays set a C$10.00 price objective on shares of Algonquin Power & Utilities and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Finally, Wells Fargo & Company raised shares of Algonquin Power & Utilities to a “hold” rating in a research report on Monday, May 11th. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Algonquin Power & Utilities presently has a consensus rating of “Buy” and a consensus price target of C$7.58.

Algonquin Power & Utilities Price Performance

The company’s 50 day moving average is C$8.54 and its 200 day moving average is C$8.64. The company has a current ratio of 1.05, a quick ratio of 0.37 and a debt-to-equity ratio of 143.58. The stock has a market capitalization of C$6.39 billion, a price-to-earnings ratio of 39.52, a price-to-earnings-growth ratio of 1.07 and a beta of 1.32.

Algonquin Power & Utilities (TSE:AQN) last posted its quarterly earnings data on Friday, May 8th. The company reported C$0.18 EPS for the quarter. The company had revenue of C$1.10 billion for the quarter. Algonquin Power & Utilities had a net margin of 6.71% and a return on equity of 3.63%. Research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.4650555 EPS for the current fiscal year.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp., parent company of Liberty Utilities, is a diversified international generation, transmission, and distribution utility. AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. AQN’s common shares, preferred shares, Series A, and preferred shares, Series D are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively.