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

Key Points

• Algonquin Power & Utilities Corp. shares recently crossed above their 200-day moving average, currently priced at C$7.97 with significant trading volume of nearly 2.9 million shares.
• Analysts have downgraded the stock's rating to "hold" from previous "strong-buy" ratings, with the average target price set at C$6.38.
• The company has a market capitalization of C$4.32 billion and a negative price-to-earnings ratio of -4.00, indicating financial challenges.

Algonquin Power & Utilities Corp. (TSE:AQN - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$7.57 and traded as high as C$7.99. Algonquin Power & Utilities shares last traded at C$7.97, with a volume of 2,912,481 shares changing hands.

Analyst Ratings Changes

A number of research firms recently issued reports on AQN. TD Securities reduced 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. National Bank Financial lowered Algonquin Power & Utilities from a "strong-buy" rating to a "hold" rating and set a C$6.75 target price on the stock. in a research report on Tuesday, June 3rd. Finally, BMO Capital Markets lowered Algonquin Power & Utilities from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of C$6.38.

Algonquin Power & Utilities Stock Performance

The firm has a 50 day moving average of C$8.01 and a two-hundred day moving average of C$7.61. 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 stock has a market cap of C$6.11 billion, a P/E ratio of -4.19, a P/E/G ratio of 1.07 and a beta of 1.01.

About Algonquin Power & Utilities

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.