Algonquin Power & Utilities (TSE:AQN) Sets New 12-Month High – Still a Buy?

Algonquin Power & Utilities Corp. (TSE:AQN)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as C$26.28 and last traded at C$8.75, with a volume of 1474223 shares. The stock had previously closed at C$8.79.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays set a C$10.00 price target on shares of Algonquin Power & Utilities and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. TD Securities dropped their price target 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 report on Monday, March 9th. National Bank Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. Finally, Raymond James Financial upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 9th. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Algonquin Power & Utilities has a consensus rating of “Buy” and an average price target of C$7.58.

Algonquin Power & Utilities Trading Down 0.5%

The company has a fifty day simple moving average of C$8.89 and a 200-day simple moving average of C$8.58. The company has a current ratio of 1.00, a quick ratio of 0.37 and a debt-to-equity ratio of 140.99. The stock has a market cap of C$6.72 billion, a price-to-earnings ratio of 39.77, a P/E/G ratio of 1.07 and a beta of 1.27.

Algonquin Power & Utilities (TSE:AQN) last posted its quarterly earnings data on Friday, March 6th. The company reported C$0.08 earnings per share (EPS) for the quarter. The firm had revenue of C$829.86 million for the quarter. Algonquin Power & Utilities had a return on equity of 3.88% and a net margin of 7.42%. On average, research analysts forecast that Algonquin Power & Utilities Corp. will post 0.4650555 earnings per share for the current fiscal 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.