SG Americas Securities LLC Acquires New Stake in Avangrid Inc (AGR)

SG Americas Securities LLC acquired a new stake in shares of Avangrid Inc (NYSE:AGR) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,412 shares of the utilities provider’s stock, valued at approximately $257,000.

A number of other institutional investors have also recently bought and sold shares of AGR. US Bancorp DE increased its position in Avangrid by 59.4% during the second quarter. US Bancorp DE now owns 4,565 shares of the utilities provider’s stock valued at $201,000 after acquiring an additional 1,702 shares during the last quarter. Russell Investments Group Ltd. increased its position in Avangrid by 62.2% in the second quarter. Russell Investments Group Ltd. now owns 13,127 shares of the utilities provider’s stock worth $579,000 after buying an additional 5,034 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Avangrid by 2.0% in the second quarter. Janney Montgomery Scott LLC now owns 7,012 shares of the utilities provider’s stock worth $310,000 after buying an additional 138 shares in the last quarter. Sei Investments Co. increased its position in Avangrid by 8,504.9% in the second quarter. Sei Investments Co. now owns 8,777 shares of the utilities provider’s stock worth $388,000 after buying an additional 8,675 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Avangrid by 30.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 161,765 shares of the utilities provider’s stock worth $7,142,000 after buying an additional 37,919 shares in the last quarter. Institutional investors own 13.83% of the company’s stock.

Shares of Avangrid Inc (NYSE:AGR) opened at $50.82 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.56 and a current ratio of 0.69. Avangrid Inc has a 1 year low of $37.19 and a 1 year high of $53.46. The stock has a market capitalization of $16,018.83, a PE ratio of 22.94, a P/E/G ratio of 2.84 and a beta of 0.55.

Avangrid (NYSE:AGR) last released its earnings results on Tuesday, October 24th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. Avangrid had a return on equity of 4.60% and a net margin of 11.23%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business posted $0.35 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. analysts forecast that Avangrid Inc will post 2.21 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be given a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Friday, December 8th. Avangrid’s dividend payout ratio is currently 80.47%.

A number of brokerages have commented on AGR. TheStreet upgraded Avangrid from a “c” rating to a “b-” rating in a research report on Monday. Bank of America began coverage on Avangrid in a research report on Tuesday, October 24th. They issued a “buy” rating and a $52.00 price target for the company. Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. J P Morgan Chase & Co upped their price target on Avangrid from $43.00 to $47.00 and gave the stock an “underweight” rating in a research report on Thursday, October 12th. Finally, Wells Fargo & Company cut Avangrid from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $47.50.

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About Avangrid

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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Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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