Algonquin Power & Utilities (TSE:AQN) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Algonquin Power & Utilities Corp. (TSE:AQN)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$8.64 and traded as high as C$8.66. Algonquin Power & Utilities shares last traded at C$8.56, with a volume of 1,439,736 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays set a C$10.00 target price on shares of Algonquin Power & Utilities and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Raymond James Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 9th. Finally, TD Securities cut their price target on shares of Algonquin Power & Utilities from C$6.50 to C$6.00 and set a “hold” rating on the stock in a research report on Monday, March 9th. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$7.58.

Algonquin Power & Utilities Stock Down 2.6%

The firm has a market capitalization of C$6.41 billion, a price-to-earnings ratio of 37.91, a P/E/G ratio of 1.07 and a beta of 1.32. The business’s 50-day moving average is C$8.75 and its two-hundred day moving average is C$8.64. The company has a debt-to-equity ratio of 140.99, a quick ratio of 0.37 and a current ratio of 1.00.

Algonquin Power & Utilities (TSE:AQN) last announced its quarterly earnings results on Friday, May 8th. The company reported C$0.18 earnings per share for the quarter. The business had revenue of C$1.10 billion for the quarter. Algonquin Power & Utilities had a net margin of 7.42% and a return on equity of 3.88%. On average, equities analysts anticipate that Algonquin Power & Utilities Corp. will post 0.4650555 earnings per share for the current 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.