Kayne Anderson Capital Advisors LP Has $3.46 Million Holdings in Algonquin Power & Utilities Corp. (NYSE:AQN)

Kayne Anderson Capital Advisors LP lowered its holdings in Algonquin Power & Utilities Corp. (NYSE:AQN - Free Report) by 84.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 634,087 shares of the utilities provider's stock after selling 3,440,152 shares during the period. Kayne Anderson Capital Advisors LP owned approximately 0.08% of Algonquin Power & Utilities worth $3,456,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in Algonquin Power & Utilities by 320.6% in the second quarter. The Manufacturers Life Insurance Company now owns 7,273,228 shares of the utilities provider's stock worth $42,633,000 after purchasing an additional 5,544,063 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Algonquin Power & Utilities by 156.0% during 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 acquiring an additional 5,426,523 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Algonquin Power & Utilities by 851.0% during the 1st quarter. Jane Street Group LLC now owns 3,765,026 shares of the utilities provider's stock valued at $23,797,000 after acquiring an additional 3,369,124 shares during the last quarter. Private Management Group Inc. bought a new position in shares of Algonquin Power & Utilities in the 3rd quarter valued at approximately $12,361,000. Finally, Davidson Kempner Capital Management LP lifted its holdings in Algonquin Power & Utilities by 79.8% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 4,634,250 shares of the utilities provider's stock worth $27,157,000 after purchasing an additional 2,056,534 shares during the last quarter. Institutional investors and hedge funds own 62.28% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on AQN. Scotiabank lowered their price target 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. Desjardins dropped their target price on shares of Algonquin Power & Utilities from $5.50 to $5.25 and set a "hold" rating on the stock in a report on Monday, August 12th. CIBC decreased their price target on shares of Algonquin Power & Utilities from $5.75 to $5.50 and set a "neutral" rating for the company in a report on Tuesday, October 22nd. Janney Montgomery Scott started coverage on Algonquin Power & Utilities in a research report on Thursday, September 5th. They issued a "neutral" rating and a $6.00 price target on the stock. Finally, National Bank Financial upgraded Algonquin Power & Utilities from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $6.18.

Algonquin Power & Utilities Stock Performance

Shares of NYSE:AQN remained flat at $4.82 during midday trading on Monday. 4,262,841 shares of the stock were exchanged, compared to its average volume of 5,624,396. 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 business has a 50 day moving average price of $5.14 and a 200 day moving average price of $5.69. Algonquin Power & Utilities Corp. has a one year low of $4.67 and a one year high of $6.79. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of -3.74 and a beta of 0.68.

Algonquin Power & Utilities (NYSE:AQN - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.08 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $573.20 million for the quarter, compared to the consensus estimate of $620.46 million. During the same quarter in the prior year, the business earned $0.11 EPS. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. On average, research analysts anticipate that Algonquin Power & Utilities Corp. will post 0.4 earnings per share for the current year.

Algonquin Power & Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date of this dividend is Tuesday, December 31st. Algonquin Power & Utilities's dividend payout ratio (DPR) is -20.16%.

About Algonquin Power & Utilities

Algonquin Power & Utilities Corp. operates in the power and utility industries in the United States, Canada, and other regions. The company operates in two segments, Regulated Services Group and Renewable Energy Group. The company primarily owns and operates a regulated electric, water distribution and wastewater collection, and natural gas utility systems and transmission operations.