Algonquin Power & Utilities (TSE:AQN) Sets New 1-Year High – Should You Buy?

Algonquin Power & Utilities Corp. (TSE:AQN) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$27.00 and last traded at C$8.31, with a volume of 212383 shares. The stock had previously closed at C$8.25.

Analyst Ratings Changes

AQN has been the subject of a number of research reports. Barclays set a C$10.00 price objective on shares of Algonquin Power & Utilities and gave the company an “overweight” rating in a research note on Wednesday, April 1st. Wells Fargo & Company raised shares of Algonquin Power & Utilities to a “hold” rating in a research note on Monday, May 11th. TD Securities cut 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 note on Monday, March 9th. Finally, 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. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$7.58.

Algonquin Power & Utilities Price Performance

The company has a market capitalization of C$6.42 billion, a PE ratio of 39.71, a PEG ratio of 1.07 and a beta of 1.32. The firm has a fifty day moving average of C$8.52 and a two-hundred day moving average of C$8.65. The company has a current ratio of 1.05, a quick ratio of 0.37 and a debt-to-equity ratio of 143.58.

Algonquin Power & Utilities (TSE:AQN) last issued its earnings results on Friday, May 8th. The company reported C$0.18 earnings per share for the quarter. The company had revenue of C$1.10 billion during the quarter. Algonquin Power & Utilities had a return on equity of 3.63% and a net margin of 6.71%. Research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.4650555 EPS for the current fiscal year.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp., parent company of Liberty Utilities, is a diversified international generation, transmission, and distribution utility. AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. AQN’s common shares, preferred shares, Series A, and preferred shares, Series D are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively.