FMR LLC lifted its holdings in Avangrid Inc (NYSE:AGR) by 34.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,502,651 shares of the utilities provider’s stock after buying an additional 634,570 shares during the quarter. FMR LLC owned about 0.81% of Avangrid worth $126,008,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Avangrid by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 29,713 shares of the utilities provider’s stock valued at $1,424,000 after buying an additional 2,933 shares during the last quarter. Morgan Stanley raised its position in shares of Avangrid by 26.1% in the third quarter. Morgan Stanley now owns 53,678 shares of the utilities provider’s stock valued at $2,574,000 after buying an additional 11,111 shares during the last quarter. Rhumbline Advisers raised its position in shares of Avangrid by 2.2% in the fourth quarter. Rhumbline Advisers now owns 52,517 shares of the utilities provider’s stock valued at $2,631,000 after buying an additional 1,137 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Avangrid by 12.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 9,900 shares of the utilities provider’s stock valued at $496,000 after buying an additional 1,105 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Avangrid in the fourth quarter valued at approximately $232,000. 14.42% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on AGR. KeyCorp began coverage on shares of Southern in a research report on Tuesday, June 4th. They set a “sector weight” rating for the company. Zacks Investment Research lowered shares of GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research report on Thursday, July 4th. Janney Montgomery Scott lowered shares of Avangrid from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $50.00 to $46.00 in a research report on Thursday, April 25th. Goldman Sachs Group reaffirmed a “neutral” rating and set a $393.00 price target on shares of Boeing in a research report on Monday, April 8th. Finally, ValuEngine raised shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Avangrid currently has a consensus rating of “Hold” and a consensus price target of $51.43.
Avangrid (NYSE:AGR) last released its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.84 billion. Avangrid had a return on equity of 4.27% and a net margin of 8.80%. Avangrid’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 EPS. Analysts anticipate that Avangrid Inc will post 2.25 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.76 annualized dividend and a dividend yield of 3.54%. Avangrid’s dividend payout ratio (DPR) is presently 79.64%.
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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