Algonquin Power & Utilities (TSE:AQN) Stock 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) shares passed 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 changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AQN. BMO Capital Markets lowered Algonquin Power & Utilities from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. National Bank Financial lowered 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. Finally, 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. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of C$6.63.

Algonquin Power & Utilities Price Performance

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 business's 50 day moving average is C$7.91 and its two-hundred day moving average is C$7.33. The firm has a market cap of C$4.41 billion, a P/E ratio of -4.08, a P/E/G 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.