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

Algonquin Power & Utilities Corp. (TSE:AQN)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as C$26.64 and last traded at C$8.13, with a volume of 392030 shares trading hands. The stock had previously closed at C$8.19.

Wall Street Analyst Weigh In

AQN has been the subject of a number of research reports. Barclays set a C$10.00 target price on shares of Algonquin Power & Utilities and gave the stock an “overweight” rating in a report on Wednesday, April 1st. TD Securities lowered their price objective on shares of Algonquin Power & Utilities from C$6.50 to C$6.00 and set a “hold” rating for the company in a research report on Monday, March 9th. Raymond James Financial raised shares of Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 9th. Finally, Wells Fargo & Company upgraded shares of Algonquin Power & Utilities to a “hold” rating in a research report on Monday. Three research 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. According to MarketBeat.com, Algonquin Power & Utilities currently has an average rating of “Buy” and an average price target of C$7.58.

Algonquin Power & Utilities Trading Down 0.9%

The company has a debt-to-equity ratio of 143.58, a quick ratio of 0.37 and a current ratio of 1.05. The firm has a market cap of C$6.24 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 1.07 and a beta of 1.32. The business has a fifty day simple moving average of C$8.68 and a 200-day simple moving average of C$8.64.

Algonquin Power & Utilities (TSE:AQN) last announced its quarterly earnings results on Friday, May 8th. The company reported C$0.18 EPS for the quarter. Algonquin Power & Utilities had a return on equity of 3.63% and a net margin of 6.71%.The firm had revenue of C$1.10 billion for the quarter. As a group, equities 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.