Kayne Anderson Capital Advisors LP Invests $4.61 Million in Algonquin Power & Utilities Corp. $AQN

Kayne Anderson Capital Advisors LP bought a new position in Algonquin Power & Utilities Corp. (NYSE:AQN) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 803,975 shares of the utilities provider’s stock, valued at approximately $4,607,000. Kayne Anderson Capital Advisors LP owned 0.10% of Algonquin Power & Utilities as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. EdgePoint Investment Group Inc. increased its position in Algonquin Power & Utilities by 84.9% in the first quarter. EdgePoint Investment Group Inc. now owns 42,223,594 shares of the utilities provider’s stock worth $216,868,000 after buying an additional 19,392,805 shares in the last quarter. Southpoint Capital Advisors LP bought a new position in shares of Algonquin Power & Utilities during the 1st quarter valued at approximately $51,400,000. Ariel Investments LLC bought a new position in shares of Algonquin Power & Utilities during the 1st quarter valued at approximately $35,735,000. Goldman Sachs Group Inc. increased its holdings in Algonquin Power & Utilities by 65.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,205,756 shares of the utilities provider’s stock worth $62,738,000 after acquiring an additional 4,808,539 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Algonquin Power & Utilities during the 1st quarter worth approximately $13,293,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Algonquin Power & Utilities Stock Down 1.1%

NYSE AQN opened at $6.01 on Tuesday. The stock has a 50 day moving average price of $5.74 and a 200-day moving average price of $5.75. Algonquin Power & Utilities Corp. has a one year low of $4.19 and a one year high of $6.48. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 1.09. The company has a market capitalization of $4.61 billion, a P/E ratio of -3.34 and a beta of 0.75.

Algonquin Power & Utilities (NYSE:AQN) last released its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. The business had revenue of $600.80 million during the quarter, compared to analyst estimates of $596.67 million. During the same quarter last year, the business earned $0.08 earnings per share. As a group, equities analysts predict that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a $0.065 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.26 annualized dividend and a dividend yield of 4.3%. Algonquin Power & Utilities’s dividend payout ratio is currently -650.00%.

Analyst Ratings Changes

A number of equities analysts have weighed in on AQN shares. Raymond James Financial upped their price target on shares of Algonquin Power & Utilities from $6.00 to $6.50 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Weiss Ratings reissued a “sell (d)” rating on shares of Algonquin Power & Utilities in a research note on Wednesday, November 5th. TD Securities upgraded shares of Algonquin Power & Utilities to a “hold” rating in a research report on Monday, August 11th. Wall Street Zen raised shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Janney Montgomery Scott set a $7.00 price target on shares of Algonquin Power & Utilities in a research note on Monday, November 10th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Algonquin Power & Utilities currently has an average rating of “Hold” and an average target price of $6.59.

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.