Algonquin Power & Utilities (TSE:AQN) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Shares of Algonquin Power & Utilities Corp. (TSE:AQN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$8.62 and traded as high as C$8.63. Algonquin Power & Utilities shares last traded at C$8.49, with a volume of 2,213,760 shares traded.

Analysts Set New Price Targets

Several brokerages have recently commented on AQN. Barclays set a C$10.00 price target on Algonquin Power & Utilities and gave the company an “overweight” rating in a research note on Wednesday, April 1st. TD Securities cut their price objective on 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 upgraded shares of Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a report on Monday, March 9th. Finally, Wells Fargo & Company raised shares of Algonquin Power & Utilities to a “hold” rating in a research report on Monday, May 11th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$8.00.

Algonquin Power & Utilities Price Performance

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 stock’s 50-day moving average is C$8.35 and its two-hundred day moving average is C$8.62. The stock has a market cap of C$6.53 billion, a PE ratio of 40.43, a PEG ratio of 1.07 and a beta of 1.46.

Algonquin Power & Utilities (TSE:AQN) last released 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 company had revenue of C$1.10 billion for the quarter. On average, equities analysts predict that Algonquin Power & Utilities Corp. will post 0.4650555 earnings per share for the current 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.