Avangrid Inc. (AGR) Sees Large Volume Increase
Avangrid Inc. (NYSE:AGR) saw unusually-high trading volume on Tuesday . Approximately 981,696 shares traded hands during trading, an increase of 90% from the previous session’s volume of 517,717 shares.The stock last traded at $45.00 and had previously closed at $45.91.
Separately, Zacks Investment Research cut shares of Avangrid from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $41.00.
The firm’s 50-day moving average is $44.47 and its 200-day moving average is $40.70. The stock has a market capitalization of $13.91 billion and a PE ratio of 32.44.
Avangrid (NYSE:AGR) last announced its quarterly earnings data on Monday, July 18th. The company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.11. On average, analysts predict that Avangrid Inc. will post $2.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be issued a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 3.84%. The ex-dividend date is Wednesday, September 7th.
In other news, insider R. Scott Mahoney acquired 1,000 shares of the stock in a transaction that occurred on Thursday, May 12th. The stock was purchased at an average cost of $40.46 per share, with a total value of $40,460.00. Following the completion of the acquisition, the insider now directly owns 40,461 shares in the company, valued at $1,637,052.06. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
A number of hedge funds have recently made changes to their positions in AGR. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Avangrid during the fourth quarter valued at $1,710,000. OppenheimerFunds Inc. bought a new position in Avangrid during the fourth quarter valued at approximately $6,569,000. California Public Employees Retirement System bought a new position in Avangrid during the fourth quarter valued at approximately $4,266,000. Rhumbline Advisers bought a new position in Avangrid during the fourth quarter valued at approximately $3,389,000. Finally, State Board of Administration of Florida Retirement System bought a new position in Avangrid during the fourth quarter valued at approximately $1,725,000.
Avangrid, Inc is a diversified energy and utility company with more than $30 billion in assets and operations in 25 states. The company operates regulated utilities and electricity generation through two primary lines of business. Avangrid Networks includes eight electric and natural gas utilities, serving approximately 3.1 million customers in New York and New England.
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