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

Key Points

• Technical breakout: AQN recently crossed above its 200-day moving average of C$8.64 (trading as high as C$8.66, last C$8.56) on volume of ~1.44M shares, with the 50-day SMA at C$8.75, signaling recent upside momentum.
• Analyst mix but overall "Buy" consensus: Broker actions are mixed (TD lowered its target to C$6 while Barclays set C$10 and Raymond James upgraded), yet the Street average rating is "Buy" with an average price target of C$7.58.
• Fundamental caution: Algonquin has a market cap of C$6.58B but a high debt-to-equity ratio (140.99) and a premium P/E of 38.91; latest quarter showed C$0.08 EPS on C$829.9M revenue with a 7.42% net margin.

Algonquin Power & Utilities Corp. (TSE:AQN - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$8.64 and traded as high as C$8.66. Algonquin Power & Utilities shares last traded at C$8.56, with a volume of 1,439,736 shares trading hands.

Wall Street Analysts Forecast Growth

AQN has been the topic of several research reports. TD Securities dropped their price objective on shares of Algonquin Power & Utilities from C$6.50 to C$6.00 and set a "hold" rating on the stock in a research note on Monday, March 9th. Barclays set a C$10.00 price objective on shares of Algonquin Power & Utilities and gave the company an "overweight" rating in a research note on Wednesday, April 1st. Finally, Raymond James Financial upgraded shares of Algonquin Power & Utilities from a "hold" rating to a "moderate buy" rating in a research note on Monday, March 9th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Algonquin Power & Utilities currently has an average rating of "Buy" and an average price target of C$7.58.

Algonquin Power & Utilities Price Performance

The company has a quick ratio of 0.37, a current ratio of 1.00 and a debt-to-equity ratio of 140.99. The company has a market capitalization of C$6.58 billion, a P/E ratio of 38.91, a P/E/G ratio of 1.07 and a beta of 1.32. The company's 50-day simple moving average is C$8.75 and its 200 day simple moving average is C$8.64.

Algonquin Power & Utilities (TSE:AQN - Get Free Report) last posted its earnings results on Friday, March 6th. The company reported C$0.08 EPS for the quarter. The company had revenue of C$829.86 million during the quarter. Algonquin Power & Utilities had a net margin of 7.42% and a return on equity of 3.88%. As a group, sell-side analysts expect that Algonquin Power & Utilities Corp. will post 0.4650555 earnings per share for the current fiscal year.

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.

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