Algonquin Power & Utilities (TSE:AQN) Sets New 52-Week High – Should You Buy?

Algonquin Power & Utilities Corp. (TSE:AQN)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$9.12 and last traded at C$8.91, with a volume of 1385110 shares traded. The stock had previously closed at C$9.05.

Analyst Ratings Changes

AQN has been the subject of a number of recent analyst reports. 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. Scotiabank raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 16th. Finally, Natl Bk Canada upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Three equities research 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$6.38.

Algonquin Power & Utilities Trading Down 2.0%

The company has a market cap of C$6.81 billion, a PE ratio of -295.67, a PEG ratio of 1.07 and a beta of 1.15. The company has a debt-to-equity ratio of 154.35, a quick ratio of 0.37 and a current ratio of 0.92. The company has a 50 day simple moving average of C$8.51 and a two-hundred day simple moving average of C$8.17.

Algonquin Power & Utilities (TSE:AQN) last posted its quarterly earnings results on Friday, November 7th. The company reported C$0.09 EPS for the quarter. The business 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%. Sell-side 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.