Algonquin Power & Utilities (TSE:AQN) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Shares of Algonquin Power & Utilities Corp. (TSE:AQN) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$8.17 and traded as high as C$9.08. Algonquin Power & Utilities shares last traded at C$9.06, with a volume of 933,939 shares.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Desjardins upgraded Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, September 30th. Janney Montgomery Scott upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Monday, November 10th. Natl Bk Canada raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Finally, Scotiabank raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 16th. Three equities 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 company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$6.38.

Algonquin Power & Utilities Stock Up 0.7%

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 firm has a market cap of C$6.96 billion, a PE ratio of -302.00, a P/E/G ratio of 1.07 and a beta of 1.15. The business’s 50-day simple moving average is C$8.50 and its 200 day simple moving average is C$8.17.

Algonquin Power & Utilities (TSE:AQN) last announced its quarterly earnings results on Friday, November 7th. The company reported C$0.09 earnings per share for the quarter. The firm had revenue of C$811.36 million during the quarter. Algonquin Power & Utilities had a negative net margin of 39.22% and a negative return on equity of 19.30%. As a group, equities research analysts expect 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.