Algonquin Power & Utilities (TSE:AQN) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• Algonquin Power & Utilities Corp. shares have recently crossed above their two hundred day moving average, trading at C$7.72, with a peak of C$7.79 during the session.
• Brokerages have downgraded the stock, with National Bank Financial lowering its rating from "strong-buy" to "hold" and setting a price target of C$6.75.
• The company has a market capitalization of C$5.93 billion and a high debt-to-equity ratio of 154.35, indicating potential financial leverage issues.

Algonquin Power & Utilities Corp. (TSE:AQN - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$7.65 and traded as high as C$7.79. Algonquin Power & Utilities shares last traded at C$7.72, with a volume of 1,772,967 shares.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AQN. National Bank Financial lowered Algonquin Power & Utilities from a "strong-buy" rating to a "hold" rating and set a C$6.75 price objective for the company. in a research report on Tuesday, June 3rd. TD Securities decreased their price objective on Algonquin Power & Utilities from C$6.50 to C$6.00 and set a "hold" rating for the company in a research report on Monday, August 11th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, Algonquin Power & Utilities has an average rating of "Hold" and an average price target of C$6.38.

Algonquin Power & Utilities Price Performance

The stock has a 50 day moving average price of C$8.01 and a two-hundred day moving average price of C$7.65. The company has a debt-to-equity ratio of 154.35, a quick ratio of 0.37 and a current ratio of 0.92. The company has a market capitalization of C$5.93 billion, a PE ratio of -4.06, a P/E/G ratio of 1.07 and a beta of 1.00.

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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