Cubist Systematic Strategies LLC lifted its position in Avangrid, Inc. (NYSE:AGR) by 202.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,388 shares of the utilities provider’s stock after purchasing an additional 10,299 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Avangrid were worth $679,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. US Bancorp DE raised its stake 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 valued at $122,000 after purchasing an additional 1,475 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of Avangrid by 102.2% in the second quarter. Proficio Capital Partners LLC now owns 2,704 shares of the utilities provider’s stock valued at $124,000 after purchasing an additional 1,367 shares in the last quarter. First Personal Financial Services raised its stake in shares of Avangrid by 3.4% in the second quarter. First Personal Financial Services now owns 2,862 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 94 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Avangrid by 20.1% in the second quarter. Parallel Advisors LLC now owns 3,265 shares of the utilities provider’s stock valued at $148,000 after purchasing an additional 546 shares in the last quarter. Finally, Stifel Financial Corp acquired a new position in shares of Avangrid in the second quarter valued at $242,000. Institutional investors and hedge funds own 13.20% of the company’s stock.
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Shares of Avangrid, Inc. (AGR) traded up 1.05% during mid-day trading on Friday, reaching $51.04. The company’s stock had a trading volume of 503,781 shares. Avangrid, Inc. has a 52-week low of $35.42 and a 52-week high of $51.38. The firm has a market cap of $15.77 billion, a price-to-earnings ratio of 23.40 and a beta of 0.48. The firm has a 50 day moving average price of $47.75 and a 200 day moving average price of $45.86.
Avangrid (NYSE:AGR) last announced its quarterly earnings data on Tuesday, October 24th. The utilities provider reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Avangrid had a return on equity of 4.60% and a net margin of 11.23%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.35 EPS. On average, equities analysts predict that Avangrid, Inc. will post $2.23 EPS for the current fiscal year.
A number of research analysts recently commented on the company. Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating in a research note on Thursday. Bank of America Corporation initiated coverage on Avangrid in a research note on Tuesday. They issued a “buy” rating and a $52.00 target price for the company. Evercore ISI upgraded Avangrid from an “in-line” rating to an “outperform” rating and upped their price target for the company from $43.50 to $46.50 in a research report on Monday, July 24th. Finally, J P Morgan Chase & Co upped their price target on Avangrid from $43.00 to $47.00 and gave the company an “underweight” rating in a research report on Thursday, October 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Avangrid has an average rating of “Buy” and a consensus target price of $47.50.
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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