Avangrid Inc. (AGR) Stake Held by Essex Financial Services Inc.
Essex Financial Services Inc. held its stake in Avangrid Inc. (NYSE:AGR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,255 shares of the company’s stock at the end of the second quarter. Essex Financial Services Inc.’s holdings in Avangrid were worth $472,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of AGR. Sigma Planning Corp raised its stake in Avangrid by 6.8% in the second quarter. Sigma Planning Corp now owns 6,141 shares of the company’s stock worth $283,000 after buying an additional 390 shares during the period. BlackRock Inc. raised its stake in Avangrid by 176.6% in the first quarter. BlackRock Inc. now owns 7,713 shares of the company’s stock worth $310,000 after buying an additional 4,924 shares during the period. M&T Bank Corp raised its stake in Avangrid by 4.1% in the first quarter. M&T Bank Corp now owns 7,977 shares of the company’s stock worth $319,000 after buying an additional 317 shares during the period. BlackRock Japan Co. Ltd purchased a new stake in Avangrid during the first quarter worth $321,000. Finally, MSI Financial Services Inc raised its stake in Avangrid by 3.1% in the second quarter. MSI Financial Services Inc now owns 8,725 shares of the company’s stock worth $402,000 after buying an additional 259 shares during the period. 13.06% of the stock is currently owned by institutional investors.
Shares of Avangrid Inc. (NYSE:AGR) traded up 0.28% during trading on Monday, reaching $40.11. 297,504 shares of the company traded hands. The firm’s 50 day moving average price is $41.44 and its 200-day moving average price is $42.25. Avangrid Inc. has a 52 week low of $32.45 and a 52 week high of $46.74. The company has a market capitalization of $12.39 billion and a price-to-earnings ratio of 24.49.
Avangrid (NYSE:AGR) last posted its earnings results on Monday, July 18th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.43 by $0.11. Avangrid had a net margin of 8.74% and a return on equity of 3.07%. Equities analysts anticipate that Avangrid Inc. will post $2.12 EPS for the current fiscal year.
A number of analysts recently weighed in on AGR shares. Zacks Investment Research lowered shares of Avangrid from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Guggenheim started coverage on shares of Avangrid in a research report on Thursday, September 8th. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. lowered shares of Avangrid from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $44.00 to $41.00 in a research report on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $41.75.
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.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avangrid Inc. and related companies with MarketBeat.com's FREE daily email newsletter.