Krilogy Financial LLC Decreases Stake in Algonquin Power & Utilities Corp. $AQN

Krilogy Financial LLC cut its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 13.1% during the first quarter, HoldingsChannel.com reports. The fund owned 1,387,165 shares of the utilities provider’s stock after selling 210,000 shares during the period. Krilogy Financial LLC’s holdings in Algonquin Power & Utilities were worth $8,892,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Public Sector Pension Investment Board grew its stake in Algonquin Power & Utilities by 2.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 74,271 shares of the utilities provider’s stock valued at $424,000 after acquiring an additional 1,800 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Algonquin Power & Utilities by 1.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 133,733 shares of the utilities provider’s stock worth $823,000 after purchasing an additional 1,966 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Algonquin Power & Utilities by 5.7% during the 4th quarter. LPL Financial LLC now owns 37,364 shares of the utilities provider’s stock worth $230,000 after purchasing an additional 2,026 shares during the last quarter. Infrastructure Capital Advisors LLC boosted its holdings in shares of Algonquin Power & Utilities by 9.4% during the 4th quarter. Infrastructure Capital Advisors LLC now owns 26,642 shares of the utilities provider’s stock worth $164,000 after purchasing an additional 2,296 shares during the last quarter. Finally, Vident Advisory LLC grew its position in shares of Algonquin Power & Utilities by 9.6% in the fourth quarter. Vident Advisory LLC now owns 31,199 shares of the utilities provider’s stock valued at $192,000 after purchasing an additional 2,736 shares in the last quarter. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. National Bank Financial cut their price target on Algonquin Power & Utilities from $7.50 to $7.25 and set an “outperform” rating for the company in a report on Monday, March 9th. Barclays started coverage on Algonquin Power & Utilities in a research note on Wednesday, April 1st. They set an “overweight” rating and a $7.00 price objective on the stock. Raymond James Financial upgraded Algonquin Power & Utilities from a “market perform” rating to an “outperform” rating and upped their target price for the company from $6.50 to $7.25 in a report on Monday, March 9th. Wells Fargo & Company started coverage on Algonquin Power & Utilities in a research note on Tuesday, May 12th. They issued an “equal weight” rating and a $7.00 target price for the company. Finally, Canadian Imperial Bank of Commerce lifted their price target on Algonquin Power & Utilities from $6.25 to $6.50 and gave the stock a “neutral” rating in a report on Monday, April 20th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Algonquin Power & Utilities has a consensus rating of “Moderate Buy” and a consensus price target of $6.83.

Algonquin Power & Utilities Stock Up 1.0%

Shares of NYSE AQN opened at $5.92 on Wednesday. The company has a market capitalization of $4.56 billion, a P/E ratio of 26.91 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.05 and a quick ratio of 0.87. The company has a 50 day simple moving average of $6.05 and a 200-day simple moving average of $6.26. Algonquin Power & Utilities Corp. has a 1 year low of $5.32 and a 1 year high of $7.11.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $713.69 million for the quarter, compared to analysts’ expectations of $713.69 million. Algonquin Power & Utilities had a return on equity of 5.21% and a net margin of 6.62%.During the same period in the prior year, the firm posted $0.14 earnings per share. On average, equities research analysts predict that Algonquin Power & Utilities Corp. will post 0.36 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.065 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.26 dividend on an annualized basis and a yield of 4.4%. Algonquin Power & Utilities’s payout ratio is currently 118.18%.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp (NYSE: AQN) is a diversified generation, transmission and distribution utility company headquartered in Oakville, Ontario. Established in 1988, the firm operates through two primary business segments: Regulated Utilities and Renewable Energy. Its Regulated Utilities segment comprises electric, natural gas and water distribution networks serving residential, commercial and industrial customers across North America, while its Renewable Energy portfolio includes hydroelectric, solar, wind and thermal generation facilities.

The company’s renewable energy assets span multiple jurisdictions in Canada and the United States, reflecting its strategy to expand clean power capacity in regions with supportive regulatory frameworks.