TD Securities Forecasts Strong Price Appreciation for Algonquin Power & Utilities (TSE:AQN) Stock

Algonquin Power & Utilities (TSE:AQN) had its price target increased by analysts at TD Securities from C$5.00 to C$6.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD Securities’ price objective would indicate a potential downside of 23.18% from the stock’s current price.

Algonquin Power & Utilities Price Performance

TSE AQN opened at C$7.81 on Monday. The company has a debt-to-equity ratio of 154.35, a current ratio of 0.92 and a quick ratio of 0.37. The stock’s fifty day moving average price is C$7.28 and its 200 day moving average price is C$6.84. Algonquin Power & Utilities has a 1 year low of C$6.03 and a 1 year high of C$9.19. The company has a market cap of C$4.23 billion, a price-to-earnings ratio of -3.92, a PEG ratio of 1.07 and a beta of 0.52.

Algonquin Power & Utilities (TSE:AQN) last released its quarterly earnings data on Friday, March 7th. The company reported C$0.06 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.09 by C($0.03). Algonquin Power & Utilities had a negative net margin of 39.22% and a negative return on equity of 19.30%. During the same period in the previous year, the business posted $0.16 EPS. As a group, equities research analysts forecast that Algonquin Power & Utilities will post 0.4650555 earnings per share for the current year.

Insider Buying and Selling at Algonquin Power & Utilities

In related news, Director Randy David Laney acquired 9,795 shares of Algonquin Power & Utilities stock in a transaction on Monday, March 10th. The stock was acquired at an average price of C$7.02 per share, for a total transaction of C$68,803.21. Company insiders own 0.06% of the company’s stock.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.