Algonquin Power & Utilities (TSE:AQN) Sets New 52-Week High Following Analyst Upgrade

Shares of Algonquin Power & Utilities Corp. (TSE:AQN) reached a new 52-week high during mid-day trading on Wednesday after Natl Bk Canada upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as C$9.13 and last traded at C$8.93, with a volume of 2360032 shares trading hands. The stock had previously closed at C$8.58.

Several other research analysts have also issued reports on AQN. 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. Scotiabank upgraded Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 16th. Finally, Desjardins raised Algonquin Power & Utilities from a “hold” rating to a “moderate buy” rating in a report on Tuesday, September 30th. Three analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$6.38.

Algonquin Power & Utilities Stock Performance

The stock has a 50-day moving average of C$8.39 and a 200-day moving average of C$8.11. The company has a debt-to-equity ratio of 154.35, a quick ratio of 0.37 and a current ratio of 0.92. The firm has a market cap of C$6.83 billion, a price-to-earnings ratio of -296.33, a price-to-earnings-growth ratio of 1.07 and a beta of 1.15.

Algonquin Power & Utilities (TSE:AQN) last issued 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 firm had revenue of C$811.36 million during the quarter. As a group, analysts anticipate that Algonquin Power & Utilities Corp. will post 0.4650555 EPS 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.