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

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Scotiabank raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 16th. National Bank Financial upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Finally, Janney Montgomery Scott upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$6.38.

Algonquin Power & Utilities Price Performance

The company’s 50-day moving average price is C$8.71 and its two-hundred day moving average price is C$8.29. The company has a debt-to-equity ratio of 154.35, a current ratio of 0.92 and a quick ratio of 0.37. The company has a market capitalization of C$7.14 billion, a P/E ratio of -310.00, a price-to-earnings-growth 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.