Signaturefd LLC grew its stake in shares of Avangrid Inc (NYSE:AGR) by 14.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,573 shares of the utilities provider’s stock after acquiring an additional 692 shares during the period. Signaturefd LLC’s holdings in Avangrid were worth $291,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Private Capital Group LLC raised its stake in Avangrid by 214.8% during the 2nd quarter. Private Capital Group LLC now owns 1,423 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 971 shares during the period. Hennessy Advisors Inc. increased its stake in shares of Avangrid by 973.8% in the second quarter. Hennessy Advisors Inc. now owns 184,700 shares of the utilities provider’s stock worth $9,327,000 after acquiring an additional 167,500 shares during the last quarter. FMR LLC increased its stake in shares of Avangrid by 34.0% in the first quarter. FMR LLC now owns 2,502,651 shares of the utilities provider’s stock worth $126,008,000 after acquiring an additional 634,570 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Avangrid by 3.9% in the first quarter. First Trust Advisors LP now owns 650,402 shares of the utilities provider’s stock worth $32,748,000 after acquiring an additional 24,439 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in shares of Avangrid in the second quarter worth $7,225,000. Institutional investors own 13.84% of the company’s stock.
AGR has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on shares of Avangrid from $47.00 to $50.00 and gave the stock an “underweight” rating in a research note on Monday, October 14th. Goldman Sachs Group set a $50.00 target price on shares of Avangrid and gave the stock a “hold” rating in a research report on Monday, August 12th. Citigroup downgraded shares of Avangrid from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $62.00 to $52.00 in a research report on Monday, August 12th. Zacks Investment Research upgraded shares of Avangrid from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Peel Hunt reiterated a “hold” rating on shares of Avangrid in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $51.14.
Avangrid (NYSE:AGR) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.11). Avangrid had a net margin of 9.32% and a return on equity of 3.98%. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the business posted $0.45 earnings per share. Avangrid’s revenue was down 3.8% compared to the same quarter last year. Sell-side analysts expect that Avangrid Inc will post 2.25 earnings per share for the current year.
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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