Algonquin Power & Utilities (TSE:AQN) Sets New 12-Month High - Still a Buy?

Key Points

• 52-week high: Algonquin's stock hit a reported new 52-week high (trading as high as C$26.28) and last traded at C$8.75 on volume of about 1.47 million shares.
• Analyst sentiment: Several firms recently upgraded AQN (e.g., National Bank Financial to "strong-buy" and Raymond James to "moderate buy"); the consensus rating is "Buy" with an average price target of C$7.58.
• Financials and valuation: The company has a market cap of C$6.72 billion, a P/E of 39.8 and a high debt-to-equity ratio (140.99); last quarter EPS was C$0.08 on revenue of C$829.9 million, and analysts expect ~0.465 EPS for the year.

Algonquin Power & Utilities Corp. (TSE:AQN - Get Free Report)'s stock price hit a new 52-week high on Friday . The stock traded as high as C$26.28 and last traded at C$8.75, with a volume of 1474223 shares changing hands. The stock had previously closed at C$8.79.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AQN. National Bank Financial upgraded shares of Algonquin Power & Utilities from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 6th. Raymond James Financial upgraded shares of Algonquin Power & Utilities from a "hold" rating to a "moderate buy" rating in a research note on Monday, March 9th. Barclays set a C$10.00 price objective on shares of Algonquin Power & Utilities and gave the company an "overweight" rating in a research note on Wednesday, April 1st. Finally, TD Securities cut their price objective on shares of Algonquin Power & Utilities from C$6.50 to C$6.00 and set a "hold" rating on the stock in a research note on Monday, March 9th. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of C$7.58.

Algonquin Power & Utilities Trading Down 0.5%

The business's 50 day moving average is C$8.89 and its two-hundred day moving average is C$8.58. The company has a quick ratio of 0.37, a current ratio of 1.00 and a debt-to-equity ratio of 140.99. The firm has a market capitalization of C$6.72 billion, a P/E ratio of 39.77, a PEG ratio of 1.07 and a beta of 1.27.

Algonquin Power & Utilities (TSE:AQN - Get Free Report) last issued its quarterly earnings data on Friday, March 6th. The company reported C$0.08 earnings per share for the quarter. Algonquin Power & Utilities had a net margin of 7.42% and a return on equity of 3.88%. The business had revenue of C$829.86 million for the quarter. Analysts expect that Algonquin Power & Utilities Corp. will post 0.4650555 EPS for the current 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.

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