Algonquin Power & Utilities (TSE:AQN) Reaches New 12-Month High – What’s Next?

Algonquin Power & Utilities Corp. (TSE:AQN) hit a new 52-week high during trading on Monday . The stock traded as high as C$27.47 and last traded at C$8.49, with a volume of 468157 shares trading hands. The stock had previously closed at C$8.55.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AQN shares. TD Securities cut their price target on Algonquin Power & Utilities from C$6.50 to C$6.00 and set a “hold” rating on the stock in a research report on Monday, March 9th. Wells Fargo & Company upgraded shares of Algonquin Power & Utilities to a “hold” rating in a research report on Monday, May 11th. Barclays set a C$10.00 price target on Algonquin Power & Utilities and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Finally, Raymond James Financial upgraded Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a report on Monday, March 9th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$8.00.

Algonquin Power & Utilities Stock Performance

The stock has a market cap of C$6.42 billion, a price-to-earnings ratio of 39.71, a PEG ratio of 1.07 and a beta of 1.46. The firm’s 50-day moving average price is C$8.33 and its two-hundred day moving average price is C$8.63. The company has a debt-to-equity ratio of 143.58, a quick ratio of 0.37 and a current ratio of 1.05.

Algonquin Power & Utilities (TSE:AQN) last issued its quarterly earnings data 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%. On average, analysts expect that Algonquin Power & Utilities Corp. will post 0.4650555 EPS for the current fiscal year.

Algonquin Power & Utilities Company Profile

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.