IFP Advisors Inc raised its position in shares of Avangrid, Inc. (NYSE:AGR) by 126.5% during the second quarter, Holdings Channel reports. The institutional investor owned 21,736 shares of the utilities provider’s stock after buying an additional 12,141 shares during the period. IFP Advisors Inc’s holdings in Avangrid were worth $960,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of AGR. US Bancorp DE increased its position in shares of Avangrid by 106.3% in the first quarter. US Bancorp DE now owns 2,863 shares of the utilities provider’s stock worth $122,000 after buying an additional 1,475 shares in the last quarter. Klingenstein Fields & Co. LLC acquired a new position in shares of Avangrid during the first quarter worth $214,000. Nisa Investment Advisors LLC acquired a new position in shares of Avangrid during the first quarter worth $227,000. Rehmann Capital Advisory Group acquired a new position in shares of Avangrid during the first quarter worth $235,000. Finally, Park Avenue Securities LLC acquired a new position in shares of Avangrid during the first quarter worth $250,000. Institutional investors own 13.52% of the company’s stock.
Shares of Avangrid, Inc. (AGR) opened at 46.67 on Thursday. The company has a market cap of $14.42 billion, a PE ratio of 21.40 and a beta of 0.56. The company has a 50 day moving average price of $44.96 and a 200 day moving average price of $43.44. Avangrid, Inc. has a 52 week low of $35.42 and a 52 week high of $46.99.
Avangrid (NYSE:AGR) last announced its earnings results on Wednesday, July 19th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. Avangrid had a return on equity of 4.52% and a net margin of 11.25%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the firm earned $0.33 EPS. Avangrid’s revenue for the quarter was down 7.5% compared to the same quarter last year. On average, equities analysts expect that Avangrid, Inc. will post $2.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be given a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Thursday, September 7th. Avangrid’s dividend payout ratio is presently 79.36%.
AGR has been the topic of a number of research reports. Zacks Investment Research upgraded Avangrid from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Tuesday, May 2nd. Evercore ISI upgraded Avangrid from an “in-line” rating to an “outperform” rating and upped their target price for the company from $43.50 to $46.50 in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Avangrid presently has an average rating of “Buy” and a consensus target price of $46.10.
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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