Algonquin Power & Utilities (TSE:AQN) Shares Up 10.6% – Here’s Why

Algonquin Power & Utilities Corp. (TSE:AQN) traded up 10.6% during mid-day trading on Tuesday . The stock traded as high as C$8.17 and last traded at C$8.14. 2,073,748 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 2,315,337 shares. The stock had previously closed at C$7.36.

Analyst Upgrades and Downgrades

AQN has been the topic of a number of recent analyst reports. TD Securities upped their price target on Algonquin Power & Utilities from C$5.00 to C$6.00 and gave the stock a “hold” rating in a research report on Monday, May 12th. BMO Capital Markets lowered Algonquin Power & Utilities from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$6.00.

Algonquin Power & Utilities Price Performance

The company has a debt-to-equity ratio of 154.35, a current ratio of 0.92 and a quick ratio of 0.37. The stock has a market capitalization of C$4.54 billion, a price-to-earnings ratio of -4.20, a price-to-earnings-growth ratio of 1.07 and a beta of 0.52. The stock has a 50 day moving average price of C$7.41 and a 200-day moving average price of C$6.93.

Algonquin Power & Utilities (TSE:AQN) last issued its earnings results on Friday, March 7th. The company reported C$0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.09 by C($0.03). Algonquin Power & Utilities had a negative return on equity of 19.30% and a negative net margin of 39.22%. During the same period last year, the company earned $0.16 earnings per share. On average, analysts forecast that Algonquin Power & Utilities Corp. will post 0.4650555 earnings per share for the current year.

Insiders Place Their Bets

In other Algonquin Power & Utilities news, Director Randy David Laney purchased 9,795 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was bought at an average price of C$7.02 per share, with a total value of C$68,803.21. 0.06% of the stock is currently owned by insiders.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.