Kayne Anderson Capital Advisors LP Has $12.55 Million Stock Position in Algonquin Power & Utilities Corp. (NYSE:AQN)

Kayne Anderson Capital Advisors LP boosted its holdings in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,986,335 shares of the utilities provider’s stock after buying an additional 117,766 shares during the quarter. Kayne Anderson Capital Advisors LP owned approximately 0.29% of Algonquin Power & Utilities worth $12,554,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AQN. Advisor Partners II LLC increased its holdings in shares of Algonquin Power & Utilities by 14.9% during the 3rd quarter. Advisor Partners II LLC now owns 15,486 shares of the utilities provider’s stock worth $92,000 after acquiring an additional 2,009 shares during the last quarter. Triumph Capital Management raised its position in shares of Algonquin Power & Utilities by 13.9% in the third quarter. Triumph Capital Management now owns 18,931 shares of the utilities provider’s stock valued at $114,000 after purchasing an additional 2,314 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Algonquin Power & Utilities by 14.6% in the third quarter. EverSource Wealth Advisors LLC now owns 19,656 shares of the utilities provider’s stock valued at $116,000 after purchasing an additional 2,500 shares during the period. Ingalls & Snyder LLC lifted its stake in shares of Algonquin Power & Utilities by 8.8% during the 3rd quarter. Ingalls & Snyder LLC now owns 41,900 shares of the utilities provider’s stock worth $248,000 after buying an additional 3,400 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Algonquin Power & Utilities by 0.8% during the 4th quarter. Mackenzie Financial Corp now owns 459,806 shares of the utilities provider’s stock worth $2,902,000 after buying an additional 3,443 shares during the period. Institutional investors own 62.28% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on AQN shares. TD Securities raised their price objective on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “hold” rating in a research report on Monday, March 11th. StockNews.com upgraded Algonquin Power & Utilities to a “sell” rating in a research note on Thursday, May 2nd. Scotiabank lowered their price objective on Algonquin Power & Utilities from $7.50 to $6.50 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Finally, Desjardins raised shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating and boosted their target price for the company from $4.75 to $5.75 in a research report on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.67.

Algonquin Power & Utilities Price Performance

Shares of NYSE AQN traded up $0.04 during mid-day trading on Thursday, reaching $6.66. The company had a trading volume of 439,363 shares, compared to its average volume of 4,898,884. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 220.33 and a beta of 0.64. The business’s 50-day simple moving average is $6.14 and its 200 day simple moving average is $6.04. Algonquin Power & Utilities Corp. has a one year low of $4.90 and a one year high of $9.14. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.50 and a current ratio of 0.63.

Algonquin Power & Utilities (NYSE:AQN) last released its earnings results on Friday, March 8th. The utilities provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $666.90 million for the quarter, compared to analyst estimates of $661.73 million. Algonquin Power & Utilities had a net margin of 1.06% and a return on equity of 5.64%. The business’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. On average, research analysts predict that Algonquin Power & Utilities Corp. will post 0.48 earnings per share for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.1085 dividend. This represents a $0.43 annualized dividend and a yield of 6.52%. The ex-dividend date of this dividend was Wednesday, March 27th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently 1,433.33%.

Algonquin Power & Utilities Company Profile

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.