Algonquin Power & Utilities Corp (AQN-T)

They bought that Kentucky company at a time when they needed to repair their balance sheet. The stock has been punished already, but will take some time to correct. They are cutting their dividend. Wait a year or so to see where the company is at.

He owned it but sold at $16 to $17 since he didn't like the deals it was making. There are too many headwinds in the industry including rising costs to build new structures.

Continues to pursue Kentucky Power, which is the right move because utilities don't come up for sale very often. They can take that utility and repurpose it. When a utility comes off so badly, you have to look at it as a buying opportunity. Renewable part struggling, and management needs to do better on this. He doesn't have confidence in management. If the assets are good, management is temporary.

He sold it in November 2021 when they bought a Kentucky company; didn't like that ROI and many institutional investors still don't like that deal for its huge capital cost, but limited return. They recently announced a 40% dividend cut, and they must sell some assets (but AQN hasn't said what). This is dead money until management regains credibility.