Denali Advisors LLC boosted its stake in Avangrid Inc (NYSE:AGR) by 13.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,400 shares of the utilities provider’s stock after acquiring an additional 29,000 shares during the period. Avangrid accounts for approximately 1.8% of Denali Advisors LLC’s holdings, making the stock its 12th biggest holding. Denali Advisors LLC’s holdings in Avangrid were worth $12,140,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in AGR. Exane Asset Management boosted its holdings in shares of Avangrid by 78.2% during the 1st quarter. Exane Asset Management now owns 37,552 shares of the utilities provider’s stock valued at $1,891,000 after buying an additional 16,481 shares in the last quarter. Alps Advisors Inc. bought a new stake in shares of Avangrid during the 1st quarter valued at $736,000. Martingale Asset Management L P boosted its holdings in shares of Avangrid by 236.8% during the 1st quarter. Martingale Asset Management L P now owns 114,518 shares of the utilities provider’s stock valued at $5,767,000 after buying an additional 80,517 shares in the last quarter. FMR LLC boosted its holdings in shares of Avangrid by 34.0% during the 1st quarter. FMR LLC now owns 2,502,651 shares of the utilities provider’s stock valued at $126,008,000 after buying an additional 634,570 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Avangrid by 3.9% during the 1st quarter. First Trust Advisors LP now owns 650,402 shares of the utilities provider’s stock valued at $32,748,000 after buying an additional 24,439 shares in the last quarter. Institutional investors and hedge funds own 14.47% of the company’s stock.
Avangrid stock traded down $0.35 during mid-day trading on Tuesday, reaching $48.50. The stock had a trading volume of 683,300 shares, compared to its average volume of 440,047. Avangrid Inc has a one year low of $45.81 and a one year high of $53.47. The company’s 50-day moving average price is $50.75. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.63 and a quick ratio of 0.57. The firm has a market cap of $15.19 billion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 2.92 and a beta of 0.12.
Avangrid (NYSE:AGR) last issued its earnings results on Wednesday, April 24th. The utilities provider reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.09). Avangrid had a return on equity of 4.27% and a net margin of 8.80%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the firm posted $0.78 EPS. Avangrid’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, analysts forecast that Avangrid Inc will post 2.23 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Thursday, September 5th. Avangrid’s dividend payout ratio (DPR) is 79.64%.
A number of analysts have recently commented on AGR shares. Janney Montgomery Scott cut shares of Avangrid from a “neutral” rating to a “sell” rating and dropped their target price for the company from $50.00 to $46.00 in a report on Thursday, April 25th. Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a report on Thursday, July 4th. Bank of America upgraded shares of Air Products & Chemicals from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $170.00 to $215.00 in a report on Thursday, April 25th. Goldman Sachs Group restated a “neutral” rating and set a $393.00 target price on shares of Boeing in a report on Monday, April 8th. Finally, ValuEngine upgraded shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $51.43.
Avangrid Company Profile
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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