Hennessy Advisors Inc. Grows Position in Avangrid, Inc. (NYSE:AGR)

Hennessy Advisors Inc. grew its holdings in Avangrid, Inc. (NYSE:AGR) by 3.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,300 shares of the utilities provider’s stock after purchasing an additional 2,600 shares during the quarter. Hennessy Advisors Inc.’s holdings in Avangrid were worth $3,066,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AGR. International Assets Investment Management LLC acquired a new position in Avangrid in the fourth quarter valued at approximately $1,583,000. abrdn plc raised its holdings in Avangrid by 110.8% in the 4th quarter. abrdn plc now owns 23,566 shares of the utilities provider’s stock valued at $774,000 after buying an additional 12,389 shares during the period. Signaturefd LLC lifted its position in Avangrid by 34.1% in the fourth quarter. Signaturefd LLC now owns 12,813 shares of the utilities provider’s stock valued at $415,000 after buying an additional 3,259 shares during the last quarter. Handelsbanken Fonder AB purchased a new stake in shares of Avangrid in the 4th quarter valued at approximately $4,195,000. Finally, GAMMA Investing LLC acquired a new stake in Avangrid in the 4th quarter valued at approximately $60,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Avangrid in a research report on Sunday, August 18th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $34.67.

Avangrid Stock Down 0.0 %

Shares of NYSE AGR opened at $35.92 on Friday. The firm has a 50-day moving average price of $35.54 and a 200 day moving average price of $35.14. Avangrid, Inc. has a 52 week low of $27.46 and a 52 week high of $37.70. The company has a quick ratio of 0.44, a current ratio of 0.52 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $13.90 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 2.69 and a beta of 0.55.

Avangrid (NYSE:AGR) last posted its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.72 billion. Avangrid had a return on equity of 4.87% and a net margin of 11.35%. Avangrid’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 earnings per share. Equities research analysts anticipate that Avangrid, Inc. will post 2.23 EPS for the current fiscal year.

Avangrid Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend is Friday, August 30th. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

Avangrid Company Profile

Avangrid, Inc, an energy services holding company, engages in the regulated energy transmission and distribution, and renewable energy generation businesses in the United States. The company operates through Networks and Renewables segments. It is involved in the generation, transmission, and distribution of electricity; and distribution, transportation, and sale of natural gas.