Krilogy Financial LLC Sells 100,000 Shares of 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 trimmed its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 5.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,761,445 shares of the utilities provider's stock after selling 100,000 shares during the period. Krilogy Financial LLC owned approximately 0.23% of Algonquin Power & Utilities worth $10,093,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Algonquin Power & Utilities during the 1st quarter worth about $288,000. Russell Investments Group Ltd. increased its position in shares of Algonquin Power & Utilities by 25.9% during the 1st quarter. Russell Investments Group Ltd. now owns 104,156 shares of the utilities provider's stock worth $535,000 after purchasing an additional 21,401 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Algonquin Power & Utilities during the 1st quarter worth about $59,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Algonquin Power & Utilities during the 1st quarter worth about $51,000. Finally, Nuveen LLC acquired a new stake in shares of Algonquin Power & Utilities during the 1st quarter worth about $13,293,000. Institutional investors and hedge funds own 62.28% of the company's stock.

Algonquin Power & Utilities Trading Down 0.2%

AQN opened at $5.59 on Tuesday. 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 stock has a market capitalization of $4.29 billion, a PE ratio of -3.11 and a beta of 0.69. Algonquin Power & Utilities Corp. has a 1-year low of $4.19 and a 1-year high of $6.24. The firm has a 50-day moving average price of $5.82 and a two-hundred day moving average price of $5.53.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The utilities provider reported $0.04 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 company had revenue of $535.59 million during the quarter, compared to analysts' expectations of $535.64 million. During the same quarter in the previous year, the company earned $0.09 EPS. As a group, equities analysts anticipate that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

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

Analyst Upgrades and Downgrades

AQN has been the subject of a number of recent analyst reports. CIBC increased their target price on shares of Algonquin Power & Utilities from $5.75 to $6.25 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. National Bank Financial upgraded shares of Algonquin Power & Utilities to a "hold" rating in a research report on Sunday, June 8th. TD Securities upgraded shares of Algonquin Power & Utilities to a "hold" rating in a research report on Monday, August 11th. Desjardins raised their price objective on shares of Algonquin Power & Utilities from $4.75 to $6.00 and gave the company a "hold" rating in a research report on Wednesday, June 4th. Finally, Wall Street Zen cut shares of Algonquin Power & Utilities from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Eleven investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target 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.

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