Algonquin Power & Utilities (TSE:AQN) Sets New 12-Month High – Here’s What Happened

Algonquin Power & Utilities Corp. (TSE:AQN)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$25.97 and last traded at C$8.55, with a volume of 667647 shares. The stock had previously closed at C$8.58.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Janney Montgomery Scott upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. TD Securities reduced their target price on Algonquin Power & Utilities from C$6.50 to C$6.00 and set a “hold” rating on the stock in a report on Monday, August 11th. Finally, Desjardins upgraded Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$6.38.

Algonquin Power & Utilities Price Performance

The business’s fifty day moving average price is C$8.14 and its 200 day moving average price is C$7.99. 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 cap of C$6.57 billion, a P/E ratio of -285.00, a PEG ratio of 1.07 and a beta of 0.82.

Algonquin Power & Utilities (TSE:AQN) last announced its quarterly earnings results on Friday, November 7th. The company reported C$0.09 earnings per share (EPS) for the quarter. The company had revenue of C$811.36 million for 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 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.