Algonquin Power & Utilities (TSE:AQN) Shares Cross Above 200 Day Moving Average – Here’s What Happened

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$8.08 and traded as high as C$8.48. Algonquin Power & Utilities shares last traded at C$8.44, with a volume of 856,291 shares.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Scotiabank raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 16th. Desjardins raised Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, September 30th. Finally, Janney Montgomery Scott raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Algonquin Power & Utilities has an average rating of “Moderate Buy” and a consensus target price of C$6.38.

Algonquin Power & Utilities Stock Down 0.6%

The company has a quick ratio of 0.37, a current ratio of 0.92 and a debt-to-equity ratio of 154.35. The stock has a 50-day simple moving average of C$8.33 and a 200-day simple moving average of C$8.08. The firm has a market capitalization of C$6.48 billion, a PE ratio of -281.33, a P/E/G ratio of 1.07 and a beta of 1.22.

Algonquin Power & Utilities (TSE:AQN) last posted its quarterly earnings results on Friday, November 7th. The company reported C$0.09 earnings per share for the quarter. Algonquin Power & Utilities had a negative return on equity of 19.30% and a negative net margin of 39.22%.The company had revenue of C$811.36 million during the quarter. Analysts forecast that Algonquin Power & Utilities Corp. 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.