Kingswood Wealth Advisors LLC Sells 7,688 Shares of Algonquin Power & Utilities Corp. (NYSE:AQN)

Kingswood Wealth Advisors LLC trimmed its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 40.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,136 shares of the utilities provider’s stock after selling 7,688 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Algonquin Power & Utilities were worth $70,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Algonquin Power & Utilities by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 25,717,759 shares of the utilities provider’s stock worth $152,249,000 after acquiring an additional 413,104 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Algonquin Power & Utilities by 754.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 15,552,484 shares of the utilities provider’s stock worth $98,292,000 after buying an additional 13,731,305 shares during the period. Nomura Holdings Inc. purchased a new stake in Algonquin Power & Utilities in the 4th quarter worth approximately $318,000. 13D Management LLC lifted its holdings in Algonquin Power & Utilities by 76.3% in the 4th quarter. 13D Management LLC now owns 845,814 shares of the utilities provider’s stock worth $5,346,000 after buying an additional 366,088 shares during the period. Finally, Troluce Capital Advisors LLC lifted its holdings in Algonquin Power & Utilities by 55.8% in the 4th quarter. Troluce Capital Advisors LLC now owns 1,500,000 shares of the utilities provider’s stock worth $9,480,000 after buying an additional 537,325 shares during the period. 62.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on AQN shares. Wells Fargo & Company increased their price objective on Algonquin Power & Utilities from $8.00 to $8.50 and gave the stock an “overweight” rating in a report on Monday, May 13th. Scotiabank lowered their target price on Algonquin Power & Utilities from $7.50 to $6.50 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. TD Securities raised their target price on Algonquin Power & Utilities from $6.00 to $6.50 and gave the company a “hold” rating in a research note on Monday, March 11th. National Bankshares raised their target price on Algonquin Power & Utilities from $6.75 to $7.25 and gave the company a “sector perform” rating in a research note on Tuesday, May 28th. Finally, StockNews.com upgraded Algonquin Power & Utilities to a “sell” rating in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.47.

Algonquin Power & Utilities Stock Down 0.2 %

AQN stock opened at $5.86 on Friday. Algonquin Power & Utilities Corp. has a twelve month low of $4.90 and a twelve month high of $8.51. The company has a quick ratio of 0.79, a current ratio of 0.98 and a debt-to-equity ratio of 1.42. The firm has a market cap of $4.49 billion, a PE ratio of -11.96 and a beta of 0.68. The business has a 50 day moving average of $6.24 and a 200 day moving average of $6.16.

Algonquin Power & Utilities (NYSE:AQN) last posted its quarterly earnings data on Friday, May 10th. The utilities provider reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Algonquin Power & Utilities had a negative net margin of 12.44% and a positive return on equity of 5.39%. The company had revenue of $737.10 million for the quarter, compared to the consensus estimate of $813.38 million. During the same period last year, the business earned $0.17 EPS. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. On average, research analysts forecast that Algonquin Power & Utilities Corp. will post 0.46 EPS for the current fiscal year.

Algonquin Power & Utilities Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.108 per share. This represents a $0.43 dividend on an annualized basis and a yield of 7.37%. The ex-dividend date of this dividend is Friday, June 28th. Algonquin Power & Utilities’s dividend payout ratio (DPR) is presently -87.76%.

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.