Algonquin Power & Utilities (TSE:AQN) Reaches New 12-Month High - Should You Buy?

Algonquin Power & Utilities Corp. (TSE:AQN - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$25.02 and last traded at C$8.23, with a volume of 2071017 shares changing hands. The stock had previously closed at C$8.54.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. TD Securities lifted their price objective on shares of Algonquin Power & Utilities from C$6.00 to C$6.50 and gave the company a "hold" rating in a research note on Wednesday. BMO Capital Markets downgraded shares of Algonquin Power & Utilities from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Finally, National Bank Financial downgraded shares of Algonquin Power & Utilities from a "strong-buy" rating to a "hold" rating and set a C$6.75 price target for the company. in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of C$6.63.

Algonquin Power & Utilities Trading Down 1.6%

The firm has a market cap of C$4.33 billion, a P/E ratio of -4.01, a PEG ratio of 1.07 and a beta of 0.52. The company has a 50 day moving average of C$7.45 and a 200 day moving average of C$6.95. The company has a debt-to-equity ratio of 154.35, a quick ratio of 0.37 and a current ratio of 0.92.

Algonquin Power & Utilities (TSE:AQN - Get Free Report) last announced its earnings results on Friday, March 7th. The company reported C$0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$0.09 by C($0.03). Algonquin Power & Utilities had a negative return on equity of 19.30% and a negative net margin of 39.22%. During the same period in the prior year, the firm posted $0.16 EPS. Analysts predict that Algonquin Power & Utilities Corp. will post 0.4650555 EPS for the current fiscal year.

Insiders Place Their Bets

In other Algonquin Power & Utilities news, Director Randy David Laney bought 9,795 shares of the stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of C$7.02 per share, for a total transaction of C$68,803.21. Corporate insiders own 0.06% of the company's stock.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.