Traders Sell Shares of Avangrid, Inc. (AGR) on Strength (AGR)
Investors sold shares of Avangrid, Inc. (NYSE:AGR) on strength during trading hours on Wednesday. $0.23 million flowed into the stock on the tick-up and $5.67 million flowed out of the stock on the tick-down, for a money net flow of $5.44 million out of the stock. Of all companies tracked, Avangrid had the 11th highest net out-flow for the day. Avangrid traded up $0.08 for the day and closed at $48.40
AGR has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Avangrid from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Evercore ISI raised shares of 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 investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $46.10.
The stock has a 50 day moving average of $46.77 and a 200-day moving average of $44.62. The stock has a market cap of $14.81 billion, a price-to-earnings ratio of 21.98 and a beta of 0.51.
Avangrid (NYSE:AGR) last released its quarterly earnings results on Wednesday, July 19th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.43 billion. Avangrid had a net margin of 11.25% and a return on equity of 4.52%. Avangrid’s revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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 declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors 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 3.61%. The ex-dividend date is Thursday, September 7th. Avangrid’s payout ratio is 79.36%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Robecosam AG raised its stake in Avangrid by 30.0% during the second quarter. Robecosam AG now owns 130,000 shares of the utilities provider’s stock valued at $5,758,000 after purchasing an additional 30,000 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Avangrid by 19.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 18,509 shares of the utilities provider’s stock valued at $817,000 after purchasing an additional 2,987 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Avangrid by 81.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 312,598 shares of the utilities provider’s stock valued at $13,801,000 after purchasing an additional 139,914 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in Avangrid by 202.4% during the second quarter. Cubist Systematic Strategies LLC now owns 15,388 shares of the utilities provider’s stock valued at $679,000 after purchasing an additional 10,299 shares in the last quarter. Finally, First Commonwealth Financial Corp PA raised its stake in Avangrid by 2.8% during the second quarter. First Commonwealth Financial Corp PA now owns 10,741 shares of the utilities provider’s stock valued at $474,000 after purchasing an additional 297 shares in the last quarter. 13.22% of the stock is currently owned by institutional investors.
ILLEGAL ACTIVITY NOTICE: “Traders Sell Shares of Avangrid, Inc. (AGR) on Strength (AGR)” was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this piece on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this piece can be viewed at https://www.dailypolitical.com/2017/09/06/traders-sell-shares-of-avangrid-inc-agr-on-strength-agr.html.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.