Baillie Gifford & Co. grew its position in shares of Avangrid, Inc. (NYSE:AGR) by 11.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 357,789 shares of the utilities provider’s stock after buying an additional 37,410 shares during the quarter. Baillie Gifford & Co. owned 0.12% of Avangrid worth $15,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AGR. BlackRock Inc. lifted its holdings in shares of Avangrid by 34,543.3% during the 1st 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 period. Global X Management Co. LLC increased its stake in shares of Avangrid by 10,006.4% in the 1st quarter. Global X Management Co. LLC now owns 187,979 shares of the utilities provider’s stock worth $8,034,000 after purchasing an additional 186,119 shares in the last quarter. Asset Management One Co. Ltd. purchased a new stake in shares of Avangrid in the 1st quarter worth $7,075,000. Victory Capital Management Inc. purchased a new stake in shares of Avangrid in the 1st quarter worth $7,036,000. Finally, Trillium Asset Management LLC purchased a new stake in shares of Avangrid in the 2nd quarter worth $7,231,000. 13.22% of the stock is currently owned by hedge funds and other institutional investors.
Avangrid, Inc. (NYSE:AGR) traded up 0.08% during midday trading on Monday, hitting $48.41. The stock had a trading volume of 14,273 shares. Avangrid, Inc. has a 52-week low of $35.42 and a 52-week high of $49.04. The firm has a 50-day moving average of $47.06 and a 200 day moving average of $44.69. The firm has a market capitalization of $14.96 billion, a P/E ratio of 22.20 and a beta of 0.51.
Avangrid (NYSE:AGR) last posted its earnings results on Wednesday, July 19th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The company had revenue of $1.33 billion during 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%. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share. On average, equities analysts forecast that Avangrid, Inc. will post $2.23 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be given a $0.432 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 3.57%. Avangrid’s dividend payout ratio (DPR) is currently 79.36%.
AGR has been the subject of several analyst reports. Zacks Investment Research lowered Avangrid from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Evercore ISI upgraded Avangrid from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $43.50 to $46.50 in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Avangrid currently has a consensus rating of “Buy” and an average price target 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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