Algonquin Power & Utilities (TSE:AQN) Reaches New 52-Week High – Still a Buy?

Algonquin Power & Utilities Corp. (TSE:AQN)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$9.13 and last traded at C$8.93, with a volume of 2360032 shares. The stock had previously closed at C$8.58.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Desjardins upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, September 30th. Janney Montgomery Scott raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. Finally, Scotiabank raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 16th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Algonquin Power & Utilities presently has a consensus rating of “Moderate Buy” and an average target price of C$6.38.

Algonquin Power & Utilities Trading Up 3.8%

The company has a market cap of C$6.84 billion, a P/E ratio of -297.00, a price-to-earnings-growth ratio of 1.07 and a beta of 1.15. The firm has a 50-day moving average of C$8.35 and a 200 day moving average of C$8.10. The company has a current ratio of 0.92, a quick ratio of 0.37 and a debt-to-equity ratio of 154.35.

Algonquin Power & Utilities (TSE:AQN) last released its quarterly earnings data on Friday, November 7th. The company reported C$0.09 earnings per share for the quarter. Algonquin Power & Utilities had a negative net margin of 39.22% and a negative return on equity of 19.30%. The firm had revenue of C$811.36 million for the quarter. On average, analysts predict that Algonquin Power & Utilities Corp. will post 0.4650555 earnings per share for the current fiscal year.

Algonquin Power & Utilities Company Profile

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.