Hennessy Advisors Inc. decreased its stake in shares of Avangrid Inc (NYSE:AGR) by 14.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 17,200 shares of the utilities provider’s stock after selling 3,000 shares during the period. Hennessy Advisors Inc.’s holdings in Avangrid were worth $862,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Hawaiian Bank increased its holdings in shares of Avangrid by 355.8% during the 4th quarter. First Hawaiian Bank now owns 588 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 459 shares during the last quarter. McKinley Carter Wealth Services Inc. bought a new stake in Avangrid during the 3rd quarter valued at approximately $201,000. Seven Eight Capital LP boosted its stake in Avangrid by 42.7% during the 3rd quarter. Seven Eight Capital LP now owns 6,137 shares of the utilities provider’s stock valued at $294,000 after purchasing an additional 1,837 shares during the period. Nomura Holdings Inc. bought a new stake in Avangrid during the 2nd quarter valued at approximately $342,000. Finally, PNC Financial Services Group Inc. boosted its stake in Avangrid by 32.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,515 shares of the utilities provider’s stock valued at $345,000 after purchasing an additional 1,583 shares during the period. 14.14% of the stock is currently owned by institutional investors and hedge funds.

Shares of AGR stock opened at $49.31 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 0.33. Avangrid Inc has a 12 month low of $45.17 and a 12 month high of $54.55. The company has a market capitalization of $15.14 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 2.30 and a beta of 0.14.

Avangrid (NYSE:AGR) last announced its quarterly earnings data on Tuesday, October 23rd. The utilities provider reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.01). Avangrid had a return on equity of 4.55% and a net margin of 6.29%. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business posted $0.40 EPS. Avangrid’s revenue was up 15.3% compared to the same quarter last year. On average, equities research analysts forecast that Avangrid Inc will post 2.27 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Shareholders of record on Tuesday, December 11th were given a $0.44 dividend. The ex-dividend date was Monday, December 10th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.57%. Avangrid’s dividend payout ratio is currently 80.00%.

Several brokerages recently weighed in on AGR. TheStreet upgraded Avangrid from a “c+” rating to a “b” rating in a research note on Wednesday, November 14th. Zacks Investment Research downgraded Avangrid from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Citigroup decreased their target price on Avangrid from $59.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday, December 4th. Goldman Sachs Group restated a “neutral” rating on shares of Avangrid in a research note on Monday, October 29th. Finally, ValuEngine upgraded Avangrid from a “hold” rating to a “buy” rating in a research note on Wednesday, December 5th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $53.78.

ILLEGAL ACTIVITY NOTICE: “Hennessy Advisors Inc. Has $862,000 Stake in Avangrid Inc (AGR)” was posted by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another website, it was copied illegally and republished in violation of United States and international trademark and copyright law. The original version of this piece of content can be read at https://www.dailypolitical.com/2019/01/18/hennessy-advisors-inc-has-862000-stake-in-avangrid-inc-agr.html.

About Avangrid

Avangrid, Inc is a diversified energy and utility company. It operates regulated utilities and electricity generation assets through two primary lines of business: Avangrid Networks and Avangrid Renewables. The Avangrid Networks includes eight electric and natural gas utilities. The Avangrid Renewables provides electricity through wind power, across the United States.

Featured Article: What are earnings reports?

Want to see what other hedge funds are holding AGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avangrid Inc (NYSE:AGR).

Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

Receive News & Ratings for Avangrid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avangrid and related companies with MarketBeat.com's FREE daily email newsletter.