Avangrid, Inc. (NYSE:AGR) Shares Sold by First Mercantile Trust Co.
First Mercantile Trust Co. lowered its position in Avangrid, Inc. (NYSE:AGR) by 22.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,950 shares of the utilities provider’s stock after selling 6,765 shares during the period. First Mercantile Trust Co.’s holdings in Avangrid were worth $1,013,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of AGR. Wellington Management Group LLP increased its position in Avangrid by 1.8% in the first quarter. Wellington Management Group LLP now owns 5,610,741 shares of the utilities provider’s stock valued at $239,804,000 after buying an additional 99,287 shares during the last quarter. Vanguard Group Inc. increased its position in Avangrid by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,142,302 shares of the utilities provider’s stock valued at $219,783,000 after buying an additional 158,721 shares during the last quarter. First Trust Advisors LP purchased a new position in Avangrid during the first quarter valued at approximately $92,755,000. BlackRock Inc. increased its position in Avangrid by 34,543.3% in the first quarter. BlackRock Inc. now owns 2,105,968 shares of the utilities provider’s stock valued at $90,008,000 after buying an additional 2,099,889 shares during the last quarter. Finally, Pzena Investment Management LLC purchased a new position in Avangrid during the first quarter valued at approximately $73,555,000. 13.52% of the stock is owned by hedge funds and other institutional investors.
Avangrid, Inc. (NYSE:AGR) opened at 46.50 on Friday. The firm’s 50-day moving average price is $45.03 and its 200 day moving average price is $43.52. The stock has a market capitalization of $14.37 billion, a P/E ratio of 21.32 and a beta of 0.56. Avangrid, Inc. has a 12-month low of $35.42 and a 12-month high of $47.09.
Avangrid (NYSE:AGR) last released its quarterly earnings results on Wednesday, July 19th. The utilities provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. Avangrid had a return on equity of 4.52% and a net margin of 11.25%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the firm earned $0.33 earnings per share. The firm’s revenue was down 7.5% compared to the same quarter last year. On average, equities analysts anticipate that Avangrid, Inc. will post $2.23 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be paid a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Thursday, September 7th. Avangrid’s dividend payout ratio (DPR) is 79.36%.
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Several research analysts have commented on AGR shares. Zacks Investment Research upgraded Avangrid from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Tuesday, May 2nd. Evercore ISI upgraded Avangrid from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $43.50 to $46.50 in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus 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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