Kingswood Wealth Advisors LLC Has $90,000 Position in Algonquin Power & Utilities Corp. $AQN

Kingswood Wealth Advisors LLC lessened its stake in shares of Algonquin Power & Utilities Corp. (NYSE:AQN) by 29.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,672 shares of the utilities provider’s stock after selling 6,695 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Algonquin Power & Utilities were worth $90,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. US Bancorp DE lifted its position in shares of Algonquin Power & Utilities by 85.7% during the 1st quarter. US Bancorp DE now owns 4,887 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 2,256 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Algonquin Power & Utilities during the 1st quarter valued at $31,000. Atria Wealth Solutions Inc. bought a new stake in Algonquin Power & Utilities during the 1st quarter valued at $51,000. Sowell Financial Services LLC bought a new stake in Algonquin Power & Utilities during the 1st quarter valued at $59,000. Finally, Oakwell Private Wealth Management LLC bought a new stake in Algonquin Power & Utilities during the 1st quarter valued at $63,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

Analyst Upgrades and Downgrades

AQN has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of Algonquin Power & Utilities in a research note on Wednesday, October 8th. TD Securities upgraded shares of Algonquin Power & Utilities to a “hold” rating in a research note on Monday, August 11th. Desjardins boosted their price target on shares of Algonquin Power & Utilities from $6.25 to $6.75 and gave the company a “buy” rating in a research note on Thursday. Finally, Wall Street Zen upgraded shares of Algonquin Power & Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.41.

Algonquin Power & Utilities Stock Performance

NYSE AQN opened at $5.79 on Monday. Algonquin Power & Utilities Corp. has a 1 year low of $4.19 and a 1 year high of $6.24. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.09 and a quick ratio of 0.86. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of -3.22 and a beta of 0.72. The company has a fifty day moving average price of $5.69 and a 200-day moving average price of $5.61.

Algonquin Power & Utilities (NYSE:AQN) last posted its earnings results on Friday, August 8th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Algonquin Power & Utilities had a negative net margin of 57.66% and a positive return on equity of 4.76%. The firm had revenue of $535.59 million during the quarter, compared to analyst estimates of $535.64 million. During the same quarter in the prior year, the business posted $0.09 EPS. As a group, equities research analysts predict that Algonquin Power & Utilities Corp. will post 0.38 EPS for the current fiscal year.

Algonquin Power & Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.065 per share. The ex-dividend date is Monday, September 29th. This represents a $0.26 annualized dividend and a yield of 4.5%. Algonquin Power & Utilities’s dividend payout ratio is presently -14.44%.

Algonquin Power & Utilities 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.