Krilogy Financial LLC Cuts Holdings in Algonquin Power & Utilities Corp. $AQN

Krilogy Financial LLC reduced its position in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 13.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,387,165 shares of the utilities provider’s stock after selling 210,000 shares during the quarter. Krilogy Financial LLC owned 0.18% of Algonquin Power & Utilities worth $8,892,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Quarry LP purchased a new position in shares of Algonquin Power & Utilities in the 3rd quarter valued at about $29,000. Group One Trading LLC boosted its position in Algonquin Power & Utilities by 63.3% during the fourth quarter. Group One Trading LLC now owns 7,479 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 2,900 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in Algonquin Power & Utilities in the fourth quarter valued at approximately $47,000. Vise Technologies Inc. acquired a new stake in Algonquin Power & Utilities in the third quarter valued at approximately $56,000. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of Algonquin Power & Utilities in the fourth quarter valued at approximately $62,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Algonquin Power & Utilities Price Performance

NYSE:AQN opened at $5.92 on Wednesday. Algonquin Power & Utilities Corp. has a 12 month low of $5.32 and a 12 month high of $7.11. The stock has a 50 day moving average of $6.05 and a two-hundred day moving average of $6.26. The company has a current ratio of 1.05, a quick ratio of 0.87 and a debt-to-equity ratio of 1.26. The firm has a market cap of $4.56 billion, a P/E ratio of 26.91 and a beta of 0.71.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results 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 business had revenue of $713.69 million during 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 quarter in the prior year, the firm earned $0.14 earnings per share. On average, analysts expect that Algonquin Power & Utilities Corp. will post 0.36 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, June 30th. Algonquin Power & Utilities’s payout ratio is presently 118.18%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. National Bank Financial reduced their target price on Algonquin Power & Utilities from $7.50 to $7.25 and set an “outperform” rating for the company in a research note on Monday, March 9th. TD Cowen dropped their price target on shares of Algonquin Power & Utilities from $6.50 to $6.00 and set a “hold” rating on the stock in a research note on Monday, March 9th. Weiss Ratings raised shares of Algonquin Power & Utilities from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, April 21st. Desjardins cut their price target on shares of Algonquin Power & Utilities from $7.25 to $7.00 and set a “buy” rating for the company in a report on Monday, March 9th. Finally, Wells Fargo & Company initiated coverage on shares of Algonquin Power & Utilities in a research report on Tuesday, May 12th. They set an “equal weight” rating and a $7.00 price objective for the company. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.83.

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.