Harrington Investments INC increased its position in Avangrid Inc (NYSE:AGR) by 12.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,457 shares of the utilities provider’s stock after purchasing an additional 910 shares during the period. Harrington Investments INC’s holdings in Avangrid were worth $442,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of AGR. First Trust Advisors LP grew its stake in Avangrid by 156.0% in the second quarter. First Trust Advisors LP now owns 1,664,787 shares of the utilities provider’s stock worth $84,072,000 after purchasing an additional 1,014,385 shares in the last quarter. Covalis Capital LLP grew its stake in Avangrid by 62.7% in the second quarter. Covalis Capital LLP now owns 616,606 shares of the utilities provider’s stock worth $31,139,000 after purchasing an additional 237,706 shares in the last quarter. BlackRock Inc. grew its stake in Avangrid by 8.0% in the second quarter. BlackRock Inc. now owns 2,483,439 shares of the utilities provider’s stock worth $125,413,000 after purchasing an additional 183,346 shares in the last quarter. Aperio Group LLC grew its stake in Avangrid by 65.7% in the second quarter. Aperio Group LLC now owns 459,584 shares of the utilities provider’s stock worth $23,209,000 after purchasing an additional 182,279 shares in the last quarter. Finally, Hennessy Advisors Inc. grew its stake in 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 purchasing an additional 167,500 shares in the last quarter. Institutional investors and hedge funds own 13.84% of the company’s stock.
A number of brokerages have commented on AGR. Goldman Sachs Group set a $50.00 target price on Avangrid and gave the company a “hold” rating in a research note on Monday, August 12th. Citigroup downgraded Avangrid from a “buy” rating to a “neutral” rating and decreased their target price for the company from $62.00 to $52.00 in a research note on Monday, August 12th. Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating in a research note on Thursday. Peel Hunt restated a “hold” rating on shares of Avangrid in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Avangrid from $47.00 to $50.00 and gave the company an “underweight” rating in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $51.14.
AGR stock traded down $0.11 during midday trading on Monday, reaching $48.27. The company had a trading volume of 8,201 shares, compared to its average volume of 444,358. The company has a quick ratio of 0.56, a current ratio of 0.66 and a debt-to-equity ratio of 0.44. The stock has a 50 day moving average price of $50.60 and a 200 day moving average price of $50.44. Avangrid Inc has a fifty-two week low of $47.45 and a fifty-two week high of $53.47. The firm has a market capitalization of $15.28 billion, a PE ratio of 21.85, a P/E/G ratio of 2.97 and a beta of 0.12.
Avangrid (NYSE:AGR) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.11). Avangrid had a net margin of 9.32% and a return on equity of 3.98%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The business’s revenue was down 3.8% on a year-over-year basis. Research analysts predict that Avangrid Inc will post 2.25 EPS 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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