Avangrid, Inc. (AGR) Shares Bought by Global X Management Co. LLC
Global X Management Co. LLC increased its position in Avangrid, Inc. (NYSE:AGR) by 5.4% during the second quarter, Holdings Channel reports. The institutional investor owned 198,221 shares of the utilities provider’s stock after buying an additional 10,242 shares during the period. Global X Management Co. LLC’s holdings in Avangrid were worth $8,751,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. US Bancorp DE increased its position in shares of Avangrid by 106.3% in the first quarter. US Bancorp DE now owns 2,863 shares of the utilities provider’s stock worth $122,000 after buying an additional 1,475 shares in the last quarter. Klingenstein Fields & Co. LLC bought a new position in shares of Avangrid during the first quarter worth approximately $214,000. Nisa Investment Advisors LLC bought a new position in shares of Avangrid during the first quarter worth approximately $227,000. Rehmann Capital Advisory Group bought a new position in shares of Avangrid during the first quarter worth approximately $235,000. Finally, Park Avenue Securities LLC bought a new position in shares of Avangrid during the first quarter worth approximately $250,000. Institutional investors and hedge funds own 13.52% of the company’s stock.
Shares of Avangrid, Inc. (NYSE AGR) opened at 46.93 on Friday. Avangrid, Inc. has a 12 month low of $35.42 and a 12 month high of $47.09. The stock has a market cap of $14.50 billion, a PE ratio of 21.52 and a beta of 0.56. The stock has a 50 day moving average of $45.00 and a 200 day moving average of $43.46.
Avangrid (NYSE:AGR) last announced its quarterly earnings data on Wednesday, July 19th. The utilities provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Avangrid had a net margin of 11.25% and a return on equity of 4.52%. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 earnings per share. On average, equities analysts anticipate that Avangrid, Inc. will post $2.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Thursday, September 7th. Avangrid’s dividend payout ratio (DPR) is currently 79.36%.
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AGR has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Avangrid from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Tuesday, May 2nd. Evercore ISI upgraded shares of Avangrid from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $43.50 to $46.50 in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $46.10.
Avangrid Company Profile
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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