Daiwa Securities Group Inc. lowered its stake in shares of Avangrid Inc (NYSE:AGR) by 3.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 126,967 shares of the utilities provider’s stock after selling 4,587 shares during the period. Daiwa Securities Group Inc.’s holdings in Avangrid were worth $6,086,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. boosted its stake in Avangrid by 2.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 40,602 shares of the utilities provider’s stock valued at $1,945,000 after purchasing an additional 1,122 shares during the last quarter. Robecosam AG boosted its stake in Avangrid by 11.5% during the 3rd quarter. Robecosam AG now owns 290,000 shares of the utilities provider’s stock valued at $13,717,000 after purchasing an additional 30,000 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Avangrid during the 3rd quarter valued at about $1,016,000. Russell Investments Group Ltd. boosted its stake in shares of Avangrid by 30.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 142,872 shares of the utilities provider’s stock worth $6,835,000 after buying an additional 33,628 shares during the last quarter. Finally, Securian Asset Management Inc boosted its stake in shares of Avangrid by 179.1% in the 3rd quarter. Securian Asset Management Inc now owns 48,011 shares of the utilities provider’s stock worth $2,301,000 after buying an additional 30,811 shares during the last quarter. Institutional investors and hedge funds own 13.60% of the company’s stock.
Shares of NYSE AGR opened at $48.08 on Wednesday. Avangrid Inc has a twelve month low of $45.17 and a twelve month high of $54.55. The company has a market capitalization of $14.53 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 2.38 and a beta of 0.14. The company has a current ratio of 0.73, a quick ratio of 0.64 and a debt-to-equity ratio of 0.34.
Avangrid (NYSE:AGR) last announced its earnings results on Tuesday, October 23rd. The utilities provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). Avangrid had a return on equity of 4.56% and a net margin of 6.29%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the firm earned $0.40 EPS. Avangrid’s quarterly revenue was up 15.3% on a year-over-year basis. On average, analysts forecast that Avangrid Inc will post 2.27 EPS for the current fiscal year.
AGR has been the topic of a number of research analyst reports. Bank of America cut their target price on Avangrid from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, July 25th. TheStreet downgraded Avangrid from a “b” rating to a “c+” rating in a research note on Thursday, October 4th. ValuEngine downgraded Avangrid from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Zacks Investment Research downgraded Avangrid from a “buy” rating to a “hold” rating in a research note on Thursday, July 12th. Finally, Evercore ISI downgraded Avangrid from an “outperform” rating to an “in-line” rating and set a $53.00 target price on the stock. in a research note on Wednesday, July 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $53.89.
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Avangrid Company Profile
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.
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