Krilogy Financial LLC Boosts Stake in Algonquin Power & Utilities Corp. (NYSE:AQN)

Krilogy Financial LLC grew its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 116.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,621,045 shares of the utilities provider’s stock after acquiring an additional 873,045 shares during the quarter. Krilogy Financial LLC’s holdings in Algonquin Power & Utilities were worth $7,214,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Private Advisor Group LLC lifted its stake in shares of Algonquin Power & Utilities by 14.1% during the third quarter. Private Advisor Group LLC now owns 17,769 shares of the utilities provider’s stock valued at $97,000 after buying an additional 2,201 shares during the period. Raymond James Trust N.A. grew its stake in Algonquin Power & Utilities by 33.4% in the 3rd quarter. Raymond James Trust N.A. now owns 13,343 shares of the utilities provider’s stock worth $73,000 after acquiring an additional 3,343 shares during the period. Northwest & Ethical Investments L.P. raised its holdings in Algonquin Power & Utilities by 12.3% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 47,155 shares of the utilities provider’s stock valued at $258,000 after acquiring an additional 5,158 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Algonquin Power & Utilities by 25.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 28,704 shares of the utilities provider’s stock worth $179,000 after purchasing an additional 5,863 shares during the period. Finally, Redwood Investment Management LLC boosted its holdings in shares of Algonquin Power & Utilities by 1.2% during the third quarter. Redwood Investment Management LLC now owns 505,299 shares of the utilities provider’s stock worth $2,794,000 after purchasing an additional 6,176 shares during the last quarter. 62.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AQN. CIBC dropped their target price on Algonquin Power & Utilities from $5.75 to $5.50 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Scotiabank dropped their price objective on shares of Algonquin Power & Utilities from $5.75 to $5.25 and set a “sector perform” rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $7.00 target price on shares of Algonquin Power & Utilities in a research report on Thursday, December 12th. Wells Fargo & Company dropped their price target on shares of Algonquin Power & Utilities from $6.00 to $5.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 price target on shares of Algonquin Power & Utilities in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.13.

Algonquin Power & Utilities Trading Down 0.1 %

NYSE:AQN opened at $4.41 on Friday. Algonquin Power & Utilities Corp. has a 12 month low of $4.19 and a 12 month high of $6.79. The business’s 50-day moving average is $4.60 and its two-hundred day moving average is $5.17. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. The firm has a market capitalization of $3.38 billion, a PE ratio of -3.41 and a beta of 0.69.

Algonquin Power & Utilities (NYSE:AQN) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). The company had revenue of $573.20 million for the quarter, compared to analysts’ expectations of $620.46 million. Algonquin Power & Utilities had a negative net margin of 39.12% and a positive return on equity of 5.22%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 earnings per share. Research analysts predict that Algonquin Power & Utilities Corp. will post 0.38 earnings per share for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.065 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.26 annualized dividend and a dividend yield of 5.90%. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently -20.15%.

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.