Algonquin Power & Utilities (TSE:AQN) Stock Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Algonquin Power & Utilities Corp. shares crossed above their 200-day moving average at C$7.76, reaching a trading high of C$8.37 with significant trading volume of 3,648,625 shares.
• Analyst ratings for AQN include a recent downgrade by TD Securities, lowering the price target from C$6.50 to C$6.00, while Desjardins upgraded the stock from "hold" to "moderate buy."
• The company has a market capitalization of C$6.43 billion, with a debt-to-equity ratio of 154.35, indicating a significant amount of leverage in its financial structure.

Shares of Algonquin Power & Utilities Corp. (TSE:AQN - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$7.76 and traded as high as C$8.37. Algonquin Power & Utilities shares last traded at C$8.37, with a volume of 3,648,625 shares.

Analyst Ratings Changes

AQN has been the subject of several recent analyst reports. TD Securities decreased their price objective on shares of Algonquin Power & Utilities from C$6.50 to C$6.00 and set a "hold" rating for the company in a report on Monday, August 11th. Desjardins upgraded shares of Algonquin Power & Utilities from a "hold" rating to a "moderate buy" rating in a report on Tuesday, September 30th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Algonquin Power & Utilities has a consensus rating of "Hold" and a consensus price target of C$6.38.

Algonquin Power & Utilities Stock Performance

The company has a market capitalization of C$6.43 billion, a P/E ratio of -4.41, a PEG ratio of 1.07 and a beta of 0.82. The stock has a fifty day simple moving average of C$7.87 and a 200-day simple moving average of C$7.76. The company has a quick ratio of 0.37, a current ratio of 0.92 and a debt-to-equity ratio of 154.35.

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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