Algonquin Power & Utilities (TSE:AQN) Hits New 12-Month High – Should You Buy?

Algonquin Power & Utilities Corp. (TSE:AQN)’s share price reached a new 52-week high during 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

AQN has been the topic of a number of analyst reports. Janney Montgomery Scott raised shares of Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. Scotiabank raised Algonquin Power & Utilities from a “hold” rating to a “strong-buy” rating in a research 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 report on Tuesday, January 6th. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$6.38.

Algonquin Power & Utilities Price Performance

The company has a 50-day moving average of C$8.84 and a 200-day moving average of C$8.34. 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$7.14 billion, a price-to-earnings ratio of -310.00, a PEG ratio of 1.07 and a beta of 1.12.

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.