Park Avenue Securities LLC boosted its position in Avangrid, Inc. (NYSE:AGR) by 7.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,310 shares of the utilities provider’s stock after buying an additional 460 shares during the period. Park Avenue Securities LLC’s holdings in Avangrid were worth $276,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boston Common Asset Management LLC raised its position in Avangrid by 25.4% in the first quarter. Boston Common Asset Management LLC now owns 160,674 shares of the utilities provider’s stock worth $6,867,000 after buying an additional 32,557 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Avangrid by 9.9% in the first quarter. Goldman Sachs Group Inc. now owns 523,337 shares of the utilities provider’s stock worth $22,368,000 after buying an additional 46,985 shares during the period. NN Investment Partners Holdings N.V. raised its position in Avangrid by 191.4% in the first quarter. NN Investment Partners Holdings N.V. now owns 47,361 shares of the utilities provider’s stock worth $2,024,000 after buying an additional 31,109 shares during the period. GSA Capital Partners LLP bought a new position in Avangrid during the fourth quarter worth $221,000. Finally, Public Employees Retirement System of Ohio raised its position in Avangrid by 1.8% in the first quarter. Public Employees Retirement System of Ohio now owns 27,608 shares of the utilities provider’s stock worth $1,180,000 after buying an additional 486 shares during the period. 13.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Avangrid, Inc. (NYSE:AGR) opened at 47.16 on Friday. The stock has a market capitalization of $14.57 billion, a P/E ratio of 21.62 and a beta of 0.56. Avangrid, Inc. has a 1-year low of $35.42 and a 1-year high of $47.33. The stock’s 50 day moving average price is $45.28 and its 200-day moving average price is $43.83.
Avangrid (NYSE:AGR) last announced its earnings results on Wednesday, July 19th. The utilities provider reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. Avangrid had a net margin of 11.25% and a return on equity of 4.52%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. Equities research analysts anticipate that Avangrid, Inc. will post $2.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be paid a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Thursday, September 7th. Avangrid’s dividend payout ratio is 79.36%.
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AGR has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Avangrid from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Evercore ISI upgraded Avangrid from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $43.50 to $46.50 in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $46.10.
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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