Hennessy Advisors Inc. Has $862,000 Stake in Avangrid Inc (AGR)
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.
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.
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.
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