Sei Investments Co. decreased its holdings in shares of Avangrid Inc (NYSE:AGR) by 27.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 6,343 shares of the utilities provider’s stock after selling 2,434 shares during the period. Sei Investments Co.’s holdings in Avangrid were worth $301,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Proficio Capital Partners LLC lifted its holdings in shares of Avangrid by 102.2% during the second quarter. Proficio Capital Partners LLC now owns 2,704 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 1,367 shares during the period. First Personal Financial Services lifted its holdings in shares of Avangrid by 3.4% during the second quarter. First Personal Financial Services now owns 2,862 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 94 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Avangrid by 20.1% during the second quarter. Parallel Advisors LLC now owns 3,265 shares of the utilities provider’s stock worth $148,000 after purchasing an additional 546 shares during the period. McKinley Carter Wealth Services Inc. acquired a new stake in shares of Avangrid during the third quarter worth about $207,000. Finally, Joel Isaacson & Co. LLC acquired a new stake in shares of Avangrid during the third quarter worth about $212,000. Institutional investors and hedge funds own 13.83% of the company’s stock.
A number of research firms recently commented on AGR. Wells Fargo & Company downgraded Avangrid from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 1st. Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Bank of America began coverage on Avangrid in a report on Tuesday, October 24th. They set a “buy” rating and a $52.00 target price for the company. Finally, J P Morgan Chase & Co lifted their target price on Avangrid from $43.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $47.50.
Shares of Avangrid Inc (AGR) opened at $51.60 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 0.31. Avangrid Inc has a twelve month low of $35.89 and a twelve month high of $53.46. The company has a market capitalization of $15,817.98, a PE ratio of 22.65, a P/E/G ratio of 2.80 and a beta of 0.55.
Avangrid (NYSE:AGR) last announced its quarterly earnings results on Tuesday, October 24th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.03. Avangrid had a return on equity of 4.60% and a net margin of 11.23%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the company posted $0.35 earnings per share. Avangrid’s revenue for the quarter was down 5.4% on a year-over-year basis. analysts expect that Avangrid Inc will post 2.21 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Friday, December 8th. Avangrid’s payout ratio is presently 80.47%.
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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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