Algonquin Power & Utilities (TSE:AQN) Sets New 52-Week Low – Here’s What Happened

Algonquin Power & Utilities Corp. (TSE:AQN)’s stock price hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as C$7.02 and last traded at C$7.09, with a volume of 2629223 shares trading hands. The stock had previously closed at C$7.06.

Wall Street Analysts Forecast Growth

Separately, Canadian Imperial Bank of Commerce reduced their price target on shares of Algonquin Power & Utilities from C$6.25 to C$6.00 in a research note on Tuesday, September 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$7.33.

Algonquin Power & Utilities Trading Down 0.3%

The company has a quick ratio of 0.37, a current ratio of 0.88 and a debt-to-equity ratio of 143.60. The business’s fifty day simple moving average is C$7.83 and its two-hundred day simple moving average is C$8.20. The company has a market cap of C$5.50 billion, a price-to-earnings ratio of 39.72, a PEG ratio of 1.07 and a beta of 1.39.

Algonquin Power & Utilities (TSE:AQN) last issued its quarterly earnings results on Friday, August 7th. The company reported C$0.06 earnings per share for the quarter. The firm had revenue of C$772.76 million during the quarter. Algonquin Power & Utilities had a net margin of 5.86% and a return on equity of 3.20%. On average, equities analysts predict that Algonquin Power & Utilities Corp. will post 0.4650555 EPS for the current 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.