Algonquin Power & Utilities (TSE:AQN) Sets New 1-Year High – Time to Buy?

Algonquin Power & Utilities Corp. (TSE:AQN) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$27.47 and last traded at C$8.49, with a volume of 468157 shares trading hands. The stock had previously closed at C$8.55.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. TD Securities decreased their target price 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. Wells Fargo & Company raised Algonquin Power & Utilities to a “hold” rating in a report on Monday, May 11th. Barclays set a C$10.00 price objective on Algonquin Power & Utilities and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Finally, Raymond James Financial upgraded Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a report on Monday, March 9th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Algonquin Power & Utilities currently has a consensus rating of “Buy” and a consensus price target of C$8.00.

Algonquin Power & Utilities Stock Down 0.8%

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 company has a market capitalization of C$6.53 billion, a PE ratio of 40.38, a P/E/G ratio of 1.07 and a beta of 1.46. The business’s 50 day simple moving average is C$8.35 and its 200 day simple moving average is C$8.63.

Algonquin Power & Utilities (TSE:AQN) last posted its quarterly earnings results on Friday, May 8th. The company reported C$0.18 earnings per share for the quarter. The business had revenue of C$1.10 billion during the quarter. Algonquin Power & Utilities had a net margin of 6.71% and a return on equity of 3.63%. As a group, analysts anticipate that Algonquin Power & Utilities Corp. will post 0.4650555 earnings per share 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.