Prudential Financial Inc. Reduces Position in AGL Resources Inc. (GAS)
Prudential Financial Inc. cut its position in shares of AGL Resources Inc. (NYSE:GAS) by 19.7% during the second quarter, Holdings Channel reports. The fund owned 136,107 shares of the company’s stock after selling 33,437 shares during the period. Prudential Financial Inc.’s holdings in AGL Resources were worth $8,979,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in shares of AGL Resources by 218.3% in the first quarter. Renaissance Technologies LLC now owns 2,001,061 shares of the company’s stock worth $130,349,000 after buying an additional 1,372,461 shares during the last quarter. Magnetar Financial LLC raised its stake in shares of AGL Resources by 63.5% in the first quarter. Magnetar Financial LLC now owns 1,612,859 shares of the company’s stock worth $105,062,000 after buying an additional 626,513 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of AGL Resources during the first quarter worth about $27,685,000. State Street Corp raised its stake in shares of AGL Resources by 7.8% in the first quarter. State Street Corp now owns 5,842,724 shares of the company’s stock worth $380,602,000 after buying an additional 422,239 shares during the last quarter. Finally, Gabelli Funds LLC raised its stake in shares of AGL Resources by 138.4% in the second quarter. Gabelli Funds LLC now owns 622,911 shares of the company’s stock worth $41,093,000 after buying an additional 361,611 shares during the last quarter.
AGL Resources Inc. (NYSE:GAS) remained flat at $65.97 during mid-day trading on Friday. The company has a 50 day moving average price of $65.79 and a 200 day moving average price of $64.88. AGL Resources Inc. has a 12-month low of $46.85 and a 12-month high of $66.49.
A number of analysts recently issued reports on GAS shares. Argus lowered AGL Resources from a “buy” rating to a “hold” rating in a report on Thursday, August 25th. Zacks Investment Research upgraded AGL Resources from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Monday, June 13th.
AGL Resources Company Profile
AGL Resources Inc (AGL Resources) is an energy services holding company engaged in the distribution of natural gas. The Company operates in four operating segments: distribution operations, retail operations, wholesale services and midstream operations. Its distribution operations segment is engaged in the operation, construction and maintenance of approximately 81,300 miles of natural gas pipeline and over 10 storage facilities and provides natural gas to residential, commercial and industrial customers.
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