Algonquin Power & Utilities (TSE:AQN) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Algonquin Power & Utilities Corp. (TSE:AQN)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$8.62 and traded as high as C$8.63. Algonquin Power & Utilities shares last traded at C$8.49, with a volume of 2,213,760 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays set a C$10.00 target price on shares of Algonquin Power & Utilities and gave the company an “overweight” rating in a report on Wednesday, April 1st. 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 report on Monday, March 9th. Wells Fargo & Company raised shares of Algonquin Power & Utilities to a “hold” rating in a research report on Monday, May 11th. 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 equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$8.00.

Algonquin Power & Utilities Stock Performance

The firm has a fifty day simple moving average of C$8.35 and a 200-day simple moving average of C$8.62. The company has a quick ratio of 0.37, a current ratio of 1.05 and a debt-to-equity ratio of 143.58. The company has a market cap of C$6.58 billion, a PE ratio of 40.71, a price-to-earnings-growth ratio of 1.07 and a beta of 1.46.

Algonquin Power & Utilities (TSE:AQN) last announced its earnings results on Friday, May 8th. The company reported C$0.18 earnings per share (EPS) for the quarter. Algonquin Power & Utilities had a return on equity of 3.63% and a net margin of 6.71%.The firm had revenue of C$1.10 billion during the quarter. On average, research analysts forecast that Algonquin Power & Utilities Corp. will post 0.4650555 EPS for the current fiscal year.

Algonquin Power & Utilities Company Profile

Algonquin Power & Utilities Corp., parent company of Liberty Utilities, is a diversified international generation, transmission, and distribution utility. AQN is committed to providing safe, secure, reliable, cost-effective, and sustainable energy and water solutions through its portfolio of generation, transmission, and distribution utility investments to over one million customer connections, largely in the United States and Canada. AQN’s common shares, preferred shares, Series A, and preferred shares, Series D are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively.