Price T Rowe Associates Inc. MD increased its position in shares of Avangrid Inc (NYSE:AGR) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,491 shares of the utilities provider’s stock after purchasing an additional 2,010 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Avangrid were worth $1,540,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Avangrid by 1.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 45,117 shares of the utilities provider’s stock valued at $2,269,000 after acquiring an additional 435 shares during the period. Cetera Investment Advisers increased its stake in Avangrid by 13.3% during the 2nd quarter. Cetera Investment Advisers now owns 5,551 shares of the utilities provider’s stock worth $280,000 after buying an additional 650 shares during the period. WealthPLAN Partners LLC increased its stake in Avangrid by 7.1% during the 1st quarter. WealthPLAN Partners LLC now owns 10,775 shares of the utilities provider’s stock worth $539,000 after buying an additional 710 shares during the period. Harrington Investments INC increased its stake in Avangrid by 11.0% during the 2nd quarter. Harrington Investments INC now owns 7,547 shares of the utilities provider’s stock worth $381,000 after buying an additional 745 shares during the period. Finally, Parallel Advisors LLC increased its stake in Avangrid by 19.2% during the 2nd quarter. Parallel Advisors LLC now owns 4,722 shares of the utilities provider’s stock worth $238,000 after buying an additional 760 shares during the period. Hedge funds and other institutional investors own 13.97% of the company’s stock.
Several research analysts have weighed in on the stock. Citigroup lowered shares of Avangrid from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $62.00 to $52.00 in a report on Monday, August 12th. Zacks Investment Research lowered shares of Avangrid from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine lowered shares of Avangrid from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Finally, Goldman Sachs Group set a $50.00 price objective on shares of Avangrid and gave the stock a “hold” rating in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $51.33.
In other news, Director Teresa A. Herbert acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were purchased at an average cost of $48.95 per share, for a total transaction of $48,950.00. Following the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $48,950. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders purchased 1,390 shares of company stock worth $68,997. 0.37% of the stock is currently owned by insiders.
Shares of NYSE:AGR opened at $49.87 on Friday. The company has a market cap of $15.60 billion, a PE ratio of 24.62, a P/E/G ratio of 3.03 and a beta of 0.13. The company’s 50-day moving average price is $50.80 and its 200 day moving average price is $50.56. Avangrid Inc has a fifty-two week low of $45.81 and a fifty-two week high of $53.47. The company has a quick ratio of 0.56, a current ratio of 0.64 and a debt-to-equity ratio of 0.41.
Avangrid (NYSE:AGR) last issued its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.07). The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.38 billion. Avangrid had a net margin of 8.85% and a return on equity of 4.09%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 earnings per share. As a group, equities analysts anticipate that Avangrid Inc will post 2.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a $0.44 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $1.76 annualized dividend and a yield of 3.53%. Avangrid’s dividend payout ratio is presently 79.64%.
Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.
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