American Century Companies Inc. decreased its position in Avangrid Inc (NYSE:AGR) by 72.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,707 shares of the utilities provider’s stock after selling 18,038 shares during the quarter. American Century Companies Inc.’s holdings in Avangrid were worth $355,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of AGR. Royal Bank of Canada boosted its holdings in shares of Avangrid by 2.3% in the 1st quarter. Royal Bank of Canada now owns 3,289,725 shares of the utilities provider’s stock worth $168,170,000 after buying an additional 72,633 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Avangrid by 1.9% in the 1st quarter. BlackRock Inc. now owns 2,149,625 shares of the utilities provider’s stock worth $109,889,000 after buying an additional 40,833 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Avangrid by 2.1% in the 2nd quarter. Pzena Investment Management LLC now owns 1,768,747 shares of the utilities provider’s stock worth $93,620,000 after buying an additional 36,367 shares during the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Avangrid by 343.6% in the 1st quarter. OppenheimerFunds Inc. now owns 1,109,189 shares of the utilities provider’s stock worth $56,702,000 after buying an additional 859,144 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Avangrid by 88.6% in the 1st quarter. Allianz Asset Management GmbH now owns 662,675 shares of the utilities provider’s stock worth $33,876,000 after buying an additional 311,374 shares during the last quarter. Hedge funds and other institutional investors own 13.67% of the company’s stock.
A number of equities analysts recently weighed in on AGR shares. Bank of America cut their price target on shares of Avangrid from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, July 25th. ValuEngine raised shares of Avangrid from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Zacks Investment Research raised shares of Avangrid from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Wednesday, June 27th. TheStreet downgraded shares of Avangrid from a “b” rating to a “c+” rating in a report on Thursday. Finally, Evercore ISI downgraded shares of Avangrid from an “outperform” rating to an “in-line” rating and set a $53.00 price objective on the stock. in a report on Wednesday, July 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Avangrid presently has an average rating of “Hold” and a consensus target price of $54.38.
NYSE AGR traded up $0.47 during trading on Friday, hitting $47.07. 548,444 shares of the company’s stock traded hands, compared to its average volume of 482,418. The company has a market cap of $14.81 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 2.29 and a beta of 0.06. Avangrid Inc has a 12-month low of $45.17 and a 12-month high of $54.55. The company has a quick ratio of 0.64, a current ratio of 0.73 and a debt-to-equity ratio of 0.34.
Avangrid (NYSE:AGR) last released its quarterly earnings data on Tuesday, July 24th. The utilities provider reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.07). Avangrid had a net margin of 6.07% and a return on equity of 4.47%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the company earned $0.46 earnings per share. Avangrid’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Avangrid Inc will post 2.29 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 7th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, September 6th. This is a boost from Avangrid’s previous quarterly dividend of $0.43. This represents a $1.76 annualized dividend and a dividend yield of 3.74%. Avangrid’s dividend payout ratio is currently 80.00%.
Avangrid, Inc operates as an energy services holding company in the United States. It engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. As of December 31, 2017, the company delivered electricity to approximately 2.2 million electric utility customers, as well as natural gas to approximately 1 million natural gas public utility customers; and owned approximately 67.5 billion cubic feet of net working gas storage capacity.
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