Scotiabank Upgrades Algonquin Power & Utilities (TSE:AQN) to “Strong-Buy”

Algonquin Power & Utilities (TSE:AQN) was upgraded by equities researchers at Scotiabank from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Janney Montgomery Scott upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Monday, November 10th. Desjardins raised Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$6.38.

Algonquin Power & Utilities Stock Performance

Algonquin Power & Utilities stock opened at C$8.48 on Tuesday. Algonquin Power & Utilities has a fifty-two week low of C$6.03 and a fifty-two week high of C$9.10. The firm’s 50 day simple moving average is C$8.27 and its 200-day simple moving average is C$8.04. 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 cap of C$6.51 billion, a P/E ratio of -282.67, a price-to-earnings-growth ratio of 1.07 and a beta of 1.22.

Algonquin Power & Utilities (TSE:AQN) last posted its quarterly earnings data on Friday, November 7th. The company reported C$0.09 EPS for the quarter. Algonquin Power & Utilities had a negative net margin of 39.22% and a negative return on equity of 19.30%. The firm had revenue of C$811.36 million during the quarter. As a group, equities research analysts predict that Algonquin Power & Utilities will post 0.4650555 EPS 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.