Csenge Advisory Group lifted its stake in shares of Avangrid Inc (NYSE:AGR) by 24.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,160 shares of the utilities provider’s stock after buying an additional 1,420 shares during the quarter. Csenge Advisory Group’s holdings in Avangrid were worth $362,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Avangrid by 3.4% during the 4th quarter. BlackRock Inc. now owns 2,108,792 shares of the utilities provider’s stock worth $106,661,000 after buying an additional 69,806 shares during the last quarter. Jennison Associates LLC acquired a new stake in Avangrid in the 4th quarter worth about $41,350,000. Wells Fargo & Company MN raised its stake in Avangrid by 2.5% in the 4th quarter. Wells Fargo & Company MN now owns 706,799 shares of the utilities provider’s stock worth $35,749,000 after purchasing an additional 17,415 shares in the last quarter. Electron Capital Partners LLC raised its stake in Avangrid by 47.6% in the 4th quarter. Electron Capital Partners LLC now owns 681,513 shares of the utilities provider’s stock worth $34,471,000 after purchasing an additional 219,904 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Avangrid by 10.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 388,973 shares of the utilities provider’s stock worth $19,674,000 after purchasing an additional 36,285 shares in the last quarter. Institutional investors own 14.28% of the company’s stock.
Shares of Avangrid Inc (NYSE:AGR) opened at $49.62 on Tuesday. Avangrid Inc has a 12 month low of $41.86 and a 12 month high of $53.46. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 0.31. The firm has a market cap of $15,403.91, a PE ratio of 22.66, a price-to-earnings-growth ratio of 2.29 and a beta of 0.32.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be issued a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 3.48%. The ex-dividend date is Thursday, March 8th. Avangrid’s dividend payout ratio is currently 140.65%.
AGR has been the subject of several analyst reports. TheStreet upgraded shares of Avangrid from a “c” rating to a “b-” rating in a research note on Monday, December 18th. Zacks Investment Research cut shares of Avangrid from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Goldman Sachs initiated coverage on shares of Avangrid in a research note on Wednesday, January 10th. They issued a “buy” rating for the company. Guggenheim set a $55.00 price objective on shares of Avangrid and gave the stock a “buy” rating in a research note on Thursday, February 15th. Finally, Wells Fargo reiterated a “market perform” rating and issued a $51.00 price objective (down previously from $54.00) on shares of Avangrid in a research note on Wednesday, February 21st. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $50.50.
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Avangrid Company Profile
Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.
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