Algonquin Power & Utilities (TSE:AQN) Share Price Passes Above 200 Day Moving Average – What’s Next?

Algonquin Power & Utilities Corp. (TSE:AQN) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$8.06 and traded as high as C$8.57. Algonquin Power & Utilities shares last traded at C$8.50, with a volume of 1,573,659 shares changing hands.

Analyst Ratings Changes

AQN has been the subject of several research analyst reports. Scotiabank raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 16th. Janney Montgomery Scott raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 10th. Finally, Desjardins raised shares of Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$6.38.

Algonquin Power & Utilities Stock Performance

The firm has a 50-day simple moving average of C$8.31 and a two-hundred day simple moving average of C$8.06. The company has a current ratio of 0.92, a quick ratio of 0.37 and a debt-to-equity ratio of 154.35. The company has a market capitalization of C$6.53 billion, a price-to-earnings ratio of -283.33, a price-to-earnings-growth ratio of 1.07 and a beta of 1.22.

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

Algonquin Power & Utilities Company Profile

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.