Algonquin Power & Utilities (TSE:AQN) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

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)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 recently commented on AQN. National Bank Financial downgraded shares of Algonquin Power & Utilities from a "strong-buy" rating to a "hold" rating and set a C$6.75 price target for the company. in a report on Tuesday, June 3rd. TD Securities decreased their price target on Algonquin Power & Utilities from C$6.50 to C$6.00 and set a "hold" rating on the stock in a report on Monday, August 11th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Algonquin Power & Utilities has an average rating of "Hold" and a consensus target price of C$6.38.

Algonquin Power & Utilities Price Performance

The firm has a market capitalization of C$5.84 billion, a PE ratio of -4.01, a PEG ratio of 1.07 and a beta of 1.00. 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 stock has a 50-day moving average price of C$8.00 and a 200 day moving average price of C$7.67.

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.