Algonquin Power & Utilities (TSE:AQN) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• Algonquin Power & Utilities shares have recently crossed above their 200-day moving average, trading at C$8.14 after reaching a high of C$8.17.
• Several analysts have downgraded the stock rating from "strong-buy" to "hold," with an average price target of C$6.63.
• The company has a significant debt-to-equity ratio of 154.35 and a market capitalization of C$4.41 billion, indicating potential financial risks.

Algonquin Power & Utilities Corp. (TSE:AQN - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$7.40 and traded as high as C$8.17. Algonquin Power & Utilities shares last traded at C$8.14, with a volume of 2,056,593 shares changing hands.

Analysts Set New Price Targets

AQN has been the topic of several research analyst reports. National Bank Financial cut shares of Algonquin Power & Utilities from a "strong-buy" rating to a "hold" rating and set a C$6.75 price target on the stock. in a research report on Tuesday, June 3rd. BMO Capital Markets cut Algonquin Power & Utilities from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Finally, TD Securities upped their price target on shares of Algonquin Power & Utilities from C$6.00 to C$6.50 and gave the stock a "hold" rating in a research note on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Algonquin Power & Utilities presently has a consensus rating of "Hold" and an average target price of C$6.63.

Algonquin Power & Utilities Price Performance

The company has a current ratio of 0.92, a quick ratio of 0.37 and a debt-to-equity ratio of 154.35. The firm has a fifty day moving average of C$7.99 and a 200 day moving average of C$7.42. The company has a market capitalization of C$4.40 billion, a P/E ratio of -4.07, a P/E/G ratio of 1.07 and a beta of 0.52.

About Algonquin Power & Utilities

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.