Public Employees Retirement System of Ohio trimmed its position in Avangrid Inc (NYSE:AGR) by 5.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,303 shares of the utilities provider’s stock after selling 1,415 shares during the period. Public Employees Retirement System of Ohio’s holdings in Avangrid were worth $1,286,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of AGR. Millennium Management LLC bought a new stake in shares of Avangrid in the second quarter valued at about $18,368,000. Renaissance Technologies LLC lifted its holdings in shares of Avangrid by 75.1% in the second quarter. Renaissance Technologies LLC now owns 743,800 shares of the utilities provider’s stock valued at $39,369,000 after purchasing an additional 318,900 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Avangrid by 88.6% in the first quarter. Allianz Asset Management GmbH now owns 662,675 shares of the utilities provider’s stock valued at $33,876,000 after purchasing an additional 311,374 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Avangrid by 40.1% in the second quarter. Bank of America Corp DE now owns 424,991 shares of the utilities provider’s stock valued at $22,494,000 after purchasing an additional 121,704 shares in the last quarter. Finally, BlueMountain Capital Management LLC bought a new stake in Avangrid during the second quarter worth about $5,006,000. Institutional investors own 13.67% of the company’s stock.
Several analysts recently issued reports on AGR shares. Zacks Investment Research lowered Avangrid from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Bank of America dropped their target price on Avangrid from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, July 25th. ValuEngine lowered Avangrid from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. TheStreet lowered Avangrid from a “b” rating to a “c+” rating in a report on Thursday, October 4th. Finally, Wells Fargo & Co upped their target price on Avangrid from $54.00 to $55.00 and gave the stock a “market perform” rating in a report on Monday, September 17th. Three analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $54.38.
AGR opened at $46.18 on Friday. Avangrid Inc has a 52-week low of $45.17 and a 52-week high of $54.55. The stock has a market cap of $14.81 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.29 and a beta of 0.06. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.64 and a current ratio of 0.73.
Avangrid (NYSE:AGR) last released its earnings results on Tuesday, July 24th. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.07). Avangrid had a return on equity of 4.47% and a net margin of 6.07%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company posted $0.46 EPS. The business’s revenue was up 5.3% on a year-over-year basis. Equities research analysts predict that Avangrid Inc will post 2.29 EPS for the current year.
Avangrid, Inc operates as an energy services holding company in the United States. It engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. As of December 31, 2017, the company delivered electricity to approximately 2.2 million electric utility customers, as well as natural gas to approximately 1 million natural gas public utility customers; and owned approximately 67.5 billion cubic feet of net working gas storage capacity.
Recommended Story: How to Invest in Marijuana Stocks
Want to see what other hedge funds are holding AGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avangrid Inc (NYSE:AGR).
Receive News & Ratings for Avangrid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avangrid and related companies with MarketBeat.com's FREE daily email newsletter.