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 Wednesday . The stock traded as high as C$26.00 and last traded at C$8.99, with a volume of 1644703 shares trading hands. The stock had previously closed at C$8.98.

Wall Street Analyst Weigh In

AQN has been the subject of a number of recent research reports. Scotiabank upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 16th. Janney Montgomery Scott upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. Finally, Natl Bk Canada upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. Three research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Algonquin Power & Utilities has a consensus rating of “Buy” and an average target price of C$6.38.

Algonquin Power & Utilities Stock 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 stock’s 50 day moving average is C$8.62 and its 200 day moving average is C$8.26. The stock has a market capitalization of C$6.91 billion, a price-to-earnings ratio of -299.67, a PEG ratio of 1.07 and a beta of 1.12.

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