Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Avangrid Inc (NYSE:AGR) by 630.0% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 111,464 shares of the utilities provider’s stock after buying an additional 96,194 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Avangrid were worth $4,764,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. Parallel Advisors LLC acquired a new position in Avangrid during the fourth quarter valued at $106,000. US Bancorp DE increased its position in Avangrid by 106.3% in the first quarter. US Bancorp DE now owns 2,863 shares of the utilities provider’s stock valued at $122,000 after buying an additional 1,475 shares during the period. Tyers Asset Management LLC acquired a new position in Avangrid during the fourth quarter valued at $173,000. Klingenstein Fields & Co. LLC acquired a new position in Avangrid during the first quarter valued at $214,000. Finally, New York State Teachers Retirement System increased its position in Avangrid by 2.0% in the fourth quarter. New York State Teachers Retirement System now owns 5,000 shares of the utilities provider’s stock valued at $189,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 12.61% of the company’s stock.
Avangrid Inc (NYSE:AGR) traded down 0.22% during trading on Thursday, reaching $45.06. 84,411 shares of the company’s stock traded hands. The company has a 50-day moving average of $43.78 and a 200 day moving average of $40.64. The stock has a market capitalization of $13.93 billion, a P/E ratio of 21.25 and a beta of 0.22. Avangrid Inc has a 12 month low of $35.42 and a 12 month high of $46.74.
Avangrid (NYSE:AGR) last posted its quarterly earnings data on Tuesday, April 25th. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.05. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.73 billion. Avangrid had a return on equity of 3.32% and a net margin of 9.14%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. On average, equities research analysts expect that Avangrid Inc will post $2.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 9th will be issued a dividend of $0.432 per share. The ex-dividend date is Wednesday, June 7th. This represents a $1.73 annualized dividend and a yield of 3.83%.
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Several research firms have weighed in on AGR. Zacks Investment Research upgraded shares of Avangrid from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Tuesday, May 2nd. Evercore ISI downgraded shares of Avangrid from a “buy” rating to a “hold” rating and set a $44.00 target price for the company. in a report on Thursday, February 23rd. Finally, Janney Montgomery Scott upgraded shares of Avangrid from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a report on Tuesday, February 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $45.20.
In other Avangrid news, insider James P. Torgerson sold 6,687 shares of the business’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $42.15, for a total transaction of $281,857.05. Following the sale, the insider now owns 108,009 shares in the company, valued at approximately $4,552,579.35. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have acquired 571 shares of company stock worth $25,191. Corporate insiders own 0.55% of the company’s stock.
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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