Algonquin Power & Utilities (TSE:AQN) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Algonquin Power & Utilities Corp. (TSE:AQN)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$8.17 and traded as high as C$9.08. Algonquin Power & Utilities shares last traded at C$9.06, with a volume of 933,939 shares.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AQN. Natl Bk Canada upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. 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. Desjardins raised Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a report on Tuesday, September 30th. Finally, Scotiabank upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 16th. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$6.38.

Algonquin Power & Utilities Stock Down 2.0%

The firm has a market cap of C$6.81 billion, a price-to-earnings ratio of -295.67, a PEG ratio of 1.07 and a beta of 1.15. The firm has a 50 day moving average of C$8.51 and a 200 day moving average of C$8.18. The company has a quick ratio of 0.37, a current ratio of 0.92 and a debt-to-equity ratio of 154.35.

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