Krilogy Financial LLC Sells 100,000 Shares of Algonquin Power & Utilities Corp. $AQN

Krilogy Financial LLC decreased its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 5.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,761,445 shares of the utilities provider’s stock after selling 100,000 shares during the quarter. Krilogy Financial LLC’s holdings in Algonquin Power & Utilities were worth $10,093,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Value Partners Investments Inc. boosted its stake in Algonquin Power & Utilities by 26.4% during the 2nd quarter. Value Partners Investments Inc. now owns 47,983 shares of the utilities provider’s stock worth $274,000 after acquiring an additional 10,020 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Algonquin Power & Utilities by 65.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock worth $62,738,000 after acquiring an additional 4,808,539 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in Algonquin Power & Utilities by 84.9% during the 1st quarter. EdgePoint Investment Group Inc. now owns 42,223,594 shares of the utilities provider’s stock worth $216,868,000 after acquiring an additional 19,392,805 shares during the last quarter. Corvex Management LP boosted its stake in Algonquin Power & Utilities by 69.9% during the 1st quarter. Corvex Management LP now owns 5,683,855 shares of the utilities provider’s stock worth $29,215,000 after acquiring an additional 2,338,400 shares during the last quarter. Finally, Ariel Investments LLC bought a new position in Algonquin Power & Utilities during the 1st quarter worth approximately $35,735,000. Institutional investors own 62.28% of the company’s stock.

Algonquin Power & Utilities Stock Performance

Shares of AQN stock opened at $5.59 on Tuesday. The company’s fifty day simple moving average is $5.82 and its 200-day simple moving average is $5.53. The company has a quick ratio of 0.86, a current ratio of 1.09 and a debt-to-equity ratio of 1.22. The firm has a market cap of $4.29 billion, a PE ratio of -3.11 and a beta of 0.69. Algonquin Power & Utilities Corp. has a 12 month low of $4.19 and a 12 month high of $6.24.

Algonquin Power & Utilities (NYSE:AQN) last announced its quarterly earnings data on Friday, August 8th. The utilities provider reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The business had revenue of $535.59 million for the quarter, compared to analyst estimates of $535.64 million. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Equities research analysts expect that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, September 29th. Algonquin Power & Utilities’s payout ratio is currently -14.44%.

Analyst Ratings Changes

Several research firms recently weighed in on AQN. National Bankshares lowered shares of Algonquin Power & Utilities from an “outperform” rating to a “sector perform” rating and set a $6.75 price objective on the stock. in a research note on Wednesday, June 4th. CIBC lifted their price target on shares of Algonquin Power & Utilities from $5.75 to $6.25 and gave the company a “neutral” rating in a research note on Wednesday, June 4th. National Bank Financial raised shares of Algonquin Power & Utilities to a “hold” rating in a research note on Sunday, June 8th. Scotiabank lifted their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “sector perform” rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen lowered shares of Algonquin Power & Utilities from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Eleven equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Algonquin Power & Utilities has an average rating of “Hold” and an average target price of $6.34.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. is an investment holding company, which engages in energy generation and water distribution facilities. It operates through the Regulated Services Group and Renewable Energy Group segments. The Regulated Services Group segment owns and operates a portfolio of electric, natural gas, water distribution, and wastewater collection utility systems and transmission.