Algonquin Power & Utilities (TSE:AQN) Share Price Passes Above 200-Day Moving Average - Here's Why

Shares of Algonquin Power & Utilities Corp. (TSE:AQN - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$7.04 and traded as high as C$7.92. Algonquin Power & Utilities shares last traded at C$7.86, with a volume of 449,344 shares changing hands.

Analysts Set New Price Targets

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

Algonquin Power & Utilities Stock Up 0.8%

The company has a 50-day moving average of C$7.69 and a two-hundred day moving average of C$7.06. The company has a market capitalization of C$4.28 billion, a PE ratio of -3.96, a P/E/G ratio of 1.07 and a beta of 0.52. The company has a debt-to-equity ratio of 154.35, a current ratio of 0.92 and a quick ratio of 0.37.

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.