Krilogy Financial LLC Purchases 873,045 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Krilogy Financial LLC increased its stake in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 116.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,621,045 shares of the utilities provider's stock after acquiring an additional 873,045 shares during the period. Krilogy Financial LLC owned about 0.21% of Algonquin Power & Utilities worth $7,214,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Swiss National Bank raised its stake in shares of Algonquin Power & Utilities by 10.4% during the third quarter. Swiss National Bank now owns 1,433,000 shares of the utilities provider's stock worth $7,843,000 after acquiring an additional 135,400 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Algonquin Power & Utilities by 6.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,720,474 shares of the utilities provider's stock worth $42,105,000 after purchasing an additional 447,246 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Algonquin Power & Utilities by 156.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 8,905,059 shares of the utilities provider's stock worth $52,341,000 after purchasing an additional 5,426,523 shares during the period. Troluce Capital Advisors LLC lifted its stake in Algonquin Power & Utilities by 33.3% in the second quarter. Troluce Capital Advisors LLC now owns 2,575,000 shares of the utilities provider's stock worth $15,090,000 after purchasing an additional 643,352 shares during the last quarter. Finally, Foundry Partners LLC purchased a new stake in Algonquin Power & Utilities during the third quarter valued at about $7,173,000. Institutional investors own 62.28% of the company's stock.

Analyst Upgrades and Downgrades

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

Algonquin Power & Utilities Price Performance

Shares of NYSE AQN traded down $0.01 during midday trading on Friday, hitting $4.41. 6,926,263 shares of the company traded hands, compared to its average volume of 5,209,857. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.92 and a quick ratio of 0.73. Algonquin Power & Utilities Corp. has a 12-month low of $4.19 and a 12-month high of $6.79. The stock has a 50-day moving average price of $4.60 and a 200 day moving average price of $5.17.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). Algonquin Power & Utilities had a positive return on equity of 5.22% and a negative net margin of 39.12%. The firm had revenue of $573.20 million during the quarter, compared to the consensus estimate of $620.46 million. During the same period in the prior year, the company posted $0.11 EPS. The firm's revenue was up 1.5% on a year-over-year basis. On average, equities research analysts forecast 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 disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 5.90%. The ex-dividend date of this dividend was Tuesday, December 31st. Algonquin Power & Utilities's dividend payout ratio is currently -20.15%.

Algonquin Power & Utilities Company 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.