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

Key Points

• Algonquin Power & Utilities Corp. stock price has crossed above its 200-day moving average, currently trading at C$8.09 compared to the average of C$7.73.
• Research firms have issued mixed ratings with TD Securities lowering their price target to C$6.00 while Desjardins upgraded to a "moderate buy," resulting in a consensus rating of "Hold."
• The company has a market cap of C$6.21 billion, and maintains significant debt with a debt-to-equity ratio of 154.35.

Algonquin Power & Utilities Corp. (TSE:AQN - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$7.73 and traded as high as C$8.14. Algonquin Power & Utilities shares last traded at C$8.09, with a volume of 1,422,306 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on AQN. TD Securities lowered their price target 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 report on Monday, August 11th. Desjardins raised shares of Algonquin Power & Utilities from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, September 30th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of C$6.38.

Algonquin Power & Utilities Trading Up 0.1%

The firm's 50 day moving average is C$7.87 and its 200 day moving average is C$7.73. The company has a market cap of C$6.21 billion, a PE ratio of -4.26, a PEG ratio of 1.07 and a beta of 0.82. The company has a debt-to-equity ratio of 154.35, a current ratio of 0.92 and a quick ratio of 0.37.

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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