Gabelli Funds LLC Has $17.85 Million Position in Avangrid Inc (AGR)

Gabelli Funds LLC cut its stake in shares of Avangrid Inc (NYSE:AGR) by 25.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 352,800 shares of the utilities provider’s stock after selling 120,225 shares during the period. Gabelli Funds LLC’s holdings in Avangrid were worth $17,845,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System grew its stake in Avangrid by 0.9% in the third quarter. State Board of Administration of Florida Retirement System now owns 116,400 shares of the utilities provider’s stock valued at $5,520,000 after acquiring an additional 1,020 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Avangrid by 7.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 19,845 shares of the utilities provider’s stock valued at $941,000 after acquiring an additional 1,336 shares during the period. Harrington Investments INC grew its stake in Avangrid by 30.4% in the fourth quarter. Harrington Investments INC now owns 6,202 shares of the utilities provider’s stock valued at $314,000 after acquiring an additional 1,445 shares during the period. AMP Capital Investors Ltd grew its stake in Avangrid by 5.2% in the third quarter. AMP Capital Investors Ltd now owns 30,435 shares of the utilities provider’s stock valued at $1,443,000 after acquiring an additional 1,500 shares during the period. Finally, US Bancorp DE grew its stake in Avangrid by 57.4% in the fourth quarter. US Bancorp DE now owns 5,440 shares of the utilities provider’s stock valued at $275,000 after acquiring an additional 1,984 shares during the period. 14.07% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have issued reports on AGR shares. TheStreet raised Avangrid from a “c” rating to a “b-” rating in a research note on Monday, December 18th. Bank of America started coverage on Avangrid in a research note on Tuesday, October 24th. They issued a “buy” rating and a $52.00 target price for the company. Goldman Sachs Group started coverage on Avangrid in a research note on Wednesday, January 10th. They issued a “buy” rating for the company. Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating in a research note on Monday, January 22nd. Finally, Wells Fargo & Co cut Avangrid from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $48.63.

Shares of Avangrid Inc (AGR) opened at $46.55 on Thursday. The company has a market capitalization of $14,161.71, a PE ratio of 20.28, a PEG ratio of 2.30 and a beta of 0.31. Avangrid Inc has a twelve month low of $39.32 and a twelve month high of $53.46. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 0.31.

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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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