Acadian Asset Management LLC purchased a new position in Avangrid, Inc. (NYSE:AGR) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 25,975 shares of the utilities provider’s stock, valued at approximately $1,146,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE boosted 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 approximately $214,000. Nisa Investment Advisors LLC acquired a new position in shares of Avangrid during the first quarter worth approximately $227,000. Rehmann Capital Advisory Group acquired a new position in shares of Avangrid during the first quarter worth approximately $235,000. Finally, Park Avenue Securities LLC acquired a new position in shares of Avangrid during the first quarter worth approximately $250,000. Hedge funds and other institutional investors own 13.52% of the company’s stock.
Avangrid, Inc. (NYSE AGR) traded up 0.13% on Thursday, hitting $46.73. 89,853 shares of the stock were exchanged. The company has a market capitalization of $14.44 billion, a PE ratio of 21.43 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 1-year low of $35.42 and a 1-year high of $46.99.
Avangrid (NYSE:AGR) last posted its quarterly earnings results on Wednesday, July 19th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.43 billion. Avangrid had a net margin of 11.25% and a return on equity of 4.52%. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. Analysts anticipate that Avangrid, Inc. will post $2.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be given a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.73 annualized dividend and a dividend yield of 3.70%. Avangrid’s dividend payout ratio is 79.36%.
AGR has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Avangrid from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Tuesday, May 2nd. Evercore ISI upgraded shares of Avangrid from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $43.50 to $46.50 in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average 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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