Algonquin Power & Utilities (TSE:AQN) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Algonquin Power & Utilities Corp. shares recently surpassed their 200-day moving average, trading at C$8.22, after reaching a high of C$8.26, indicating potential upward momentum.
• Several analysts downgraded the stock's rating, with National Bank Financial reducing it from "strong-buy" to "hold" and setting a price target of C$6.75, while the consensus rating remains "Hold" with a price target of C$6.63.
• The company has a significant market capitalization of C$4.46 billion and operates internationally through its two business groups, focusing on providing reliable energy and water solutions.

Algonquin Power & Utilities Corp. (TSE:AQN - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$7.31 and traded as high as C$8.26. Algonquin Power & Utilities shares last traded at C$8.22, with a volume of 575,725 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. 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 objective on the stock. in a research note on Tuesday, June 3rd. 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, June 4th. Finally, BMO Capital Markets cut shares of Algonquin Power & Utilities from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of C$6.63.

Algonquin Power & Utilities Trading Down 0.1%

The business's 50 day moving average is C$7.90 and its two-hundred day moving average is C$7.31. The company has a quick ratio of 0.37, a current ratio of 0.92 and a debt-to-equity ratio of 154.35. The firm has a market capitalization of C$4.46 billion, a P/E ratio of -4.12, a PEG ratio of 1.07 and a beta of 0.52.

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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