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

Algonquin Power & Utilities Corp. (TSE:AQN)’s share price 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 research analysts have recently issued reports on the stock. TD Securities dropped 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 note on Monday, March 9th. Barclays set a C$10.00 price target on shares of Algonquin Power & Utilities and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. Wells Fargo & Company upgraded shares of Algonquin Power & Utilities to a “hold” rating in a research note on Monday, May 11th. Finally, Raymond James Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 9th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$7.58.

Algonquin Power & Utilities Trading Up 0.6%

The company has a debt-to-equity ratio of 143.58, a current ratio of 1.05 and a quick ratio of 0.37. The business’s 50 day moving average price is C$8.54 and its 200-day moving average price is C$8.64. The firm 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 issued its quarterly earnings results on Friday, May 8th. The company reported C$0.18 earnings per share (EPS) for the quarter. The business 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%. Equities analysts forecast 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.