Assetmark Inc. boosted its stake in shares of Avangrid Inc (NYSE:AGR) by 46.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,567 shares of the utilities provider’s stock after buying an additional 26,423 shares during the quarter. Assetmark Inc.’s holdings in Avangrid were worth $4,220,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of AGR. Bremer Bank National Association purchased a new stake in shares of Avangrid in the first quarter valued at about $54,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Avangrid in the second quarter valued at about $54,000. Signaturefd LLC lifted its holdings in shares of Avangrid by 15.6% in the first quarter. Signaturefd LLC now owns 3,030 shares of the utilities provider’s stock valued at $153,000 after purchasing an additional 410 shares in the last quarter. Riverhead Capital Management LLC purchased a new stake in shares of Avangrid in the second quarter valued at about $190,000. Finally, Cetera Advisor Networks LLC purchased a new stake in shares of Avangrid in the first quarter valued at about $208,000. Institutional investors own 13.97% of the company’s stock.
AGR has been the topic of several recent analyst reports. Goldman Sachs Group set a $50.00 price objective on shares of Avangrid and gave the company a “hold” rating in a research note on Monday, August 12th. Zacks Investment Research downgraded shares of Avangrid from a “buy” rating to a “hold” rating in a research note on Tuesday. Citigroup lowered shares of Avangrid from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $62.00 to $52.00 in a research report on Monday, August 12th. Finally, ValuEngine lowered shares of Avangrid from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Avangrid currently has a consensus rating of “Hold” and a consensus target price of $51.33.
AGR traded down $0.06 during trading hours on Friday, reaching $49.87. 286,785 shares of the stock traded hands, compared to its average volume of 391,417. Avangrid Inc has a fifty-two week low of $45.81 and a fifty-two week high of $53.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.64 and a quick ratio of 0.56. The company has a market cap of $15.60 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 3.03 and a beta of 0.13. The firm’s fifty day simple moving average is $50.80 and its two-hundred day simple moving average is $50.56.
Avangrid (NYSE:AGR) last posted its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.07). Avangrid had a net margin of 8.85% and a return on equity of 4.09%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the company earned $0.41 earnings per share. The company’s revenue was down .1% compared to the same quarter last year. On average, research analysts predict that Avangrid Inc will post 2.24 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were given a $0.44 dividend. The ex-dividend date was Thursday, September 5th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.53%. Avangrid’s payout ratio is currently 79.64%.
Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.
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