Algonquin Power & Utilities (TSE:AQN) Reaches New 12-Month High – Here’s Why

Shares of Algonquin Power & Utilities Corp. (TSE:AQN) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$9.38 and last traded at C$9.28, with a volume of 248692 shares. The stock had previously closed at C$9.31.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AQN shares. Janney Montgomery Scott raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. Scotiabank raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 16th. Finally, National Bank Financial raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 6th. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$6.38.

Algonquin Power & Utilities Stock Performance

The company has a 50 day moving average of C$8.87 and a 200-day moving average of C$8.35. The stock has a market cap of C$7.25 billion, a price-to-earnings ratio of -314.67, a price-to-earnings-growth ratio of 1.07 and a beta of 1.12. The company has a debt-to-equity ratio of 154.35, a quick ratio of 0.37 and a current ratio of 0.92.

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.