Krilogy Financial LLC Has $10.09 Million Stock Holdings in Algonquin Power & Utilities Corp. $AQN

Key Points

• Krilogy Financial LLC has reduced its stake in Algonquin Power & Utilities Corp. by 5.4%, selling 100,000 shares to hold a total of 1,761,445 shares valued at approximately $10 million.
• The company recently reported quarterly earnings with an EPS of $0.04, meeting analysts' expectations and generating a revenue of $535.59 million.
• Algonquin is set to pay a quarterly dividend of $0.065 per share on October 15th, representing an annualized dividend yield of 4.7%.

Krilogy Financial LLC cut its position in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 5.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,761,445 shares of the utilities provider's stock after selling 100,000 shares during the period. Krilogy Financial LLC owned 0.23% of Algonquin Power & Utilities worth $10,093,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. EdgePoint Investment Group Inc. grew its holdings in shares of Algonquin Power & Utilities by 84.9% during the first quarter. EdgePoint Investment Group Inc. now owns 42,223,594 shares of the utilities provider's stock worth $216,868,000 after purchasing an additional 19,392,805 shares during the last quarter. Vanguard Group Inc. boosted its position in Algonquin Power & Utilities by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 31,715,401 shares of the utilities provider's stock valued at $162,859,000 after buying an additional 204,473 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Algonquin Power & Utilities by 0.7% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,139,562 shares of the utilities provider's stock worth $67,487,000 after acquiring an additional 88,439 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Algonquin Power & Utilities by 65.0% in the first quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider's stock valued at $62,738,000 after acquiring an additional 4,808,539 shares during the last quarter. Finally, Southpoint Capital Advisors LP bought a new position in Algonquin Power & Utilities in the first quarter valued at about $51,400,000. 62.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AQN. National Bankshares downgraded Algonquin Power & Utilities from an "outperform" rating to a "sector perform" rating and set a $6.75 price target on the stock. in a research note on Wednesday, June 4th. TD Securities raised shares of Algonquin Power & Utilities to a "hold" rating in a research report on Monday, August 11th. National Bank Financial upgraded shares of Algonquin Power & Utilities to a "hold" rating in a research report on Sunday, June 8th. Scotiabank increased their price target on Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Finally, Desjardins upped their price target on shares of Algonquin Power & Utilities from $4.75 to $6.00 and gave the company a "hold" rating in a report on Wednesday, June 4th. Eleven equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $6.34.

Algonquin Power & Utilities Stock Down 0.2%

Shares of Algonquin Power & Utilities stock traded down $0.01 on Friday, reaching $5.47. 7,217,624 shares of the company were exchanged, compared to its average volume of 3,505,003. Algonquin Power & Utilities Corp. has a one year low of $4.19 and a one year high of $6.24. The company has a current ratio of 1.09, a quick ratio of 0.86 and a debt-to-equity ratio of 1.22. The company has a 50-day moving average of $5.79 and a 200 day moving average of $5.54. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of -3.04 and a beta of 0.69.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. The firm had revenue of $535.59 million for the quarter, compared to analyst estimates of $535.64 million. During the same period in the prior year, the firm posted $0.09 earnings per share. On average, equities research analysts forecast that Algonquin Power & Utilities Corp. will post 0.38 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, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.8%. Algonquin Power & Utilities's payout ratio is presently -14.44%.

Algonquin Power & Utilities Profile

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.