Avangrid Inc (NYSE:AGR) Director Alan D. Solomont Acquires 207 Shares

Avangrid Inc (NYSE:AGR) Director Alan D. Solomont bought 207 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was purchased at an average price of $48.45 per share, with a total value of $10,029.15. Following the completion of the transaction, the director now directly owns 5,263 shares of the company’s stock, valued at $254,992.35. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

NYSE:AGR traded up $0.38 during trading hours on Wednesday, reaching $48.89. 9,469 shares of the company’s stock were exchanged, compared to its average volume of 313,362. The company has a quick ratio of 0.57, a current ratio of 0.66 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $15.00 billion, a P/E ratio of 22.14, a price-to-earnings-growth ratio of 2.92 and a beta of 0.10. Avangrid Inc has a 12 month low of $47.45 and a 12 month high of $53.47. The business’s 50-day simple moving average is $49.29 and its two-hundred day simple moving average is $50.19.

Avangrid (NYSE:AGR) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.11). The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.54 billion. Avangrid had a net margin of 9.32% and a return on equity of 3.98%. Avangrid’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 EPS. As a group, sell-side analysts anticipate that Avangrid Inc will post 2.25 earnings per share for the current fiscal year.

AGR has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on Avangrid from $47.00 to $50.00 and gave the company an “underweight” rating in a research report on Monday, October 14th. Citigroup lowered Avangrid from a “buy” rating to a “neutral” rating and cut their price objective for the company from $62.00 to $52.00 in a report on Monday, August 12th. Goldman Sachs Group set a $50.00 target price on Avangrid and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $51.14.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Avangrid by 8.0% during the second quarter. BlackRock Inc. now owns 2,483,439 shares of the utilities provider’s stock valued at $125,413,000 after purchasing an additional 183,346 shares during the last quarter. First Trust Advisors LP grew its position in Avangrid by 4.4% during the 3rd quarter. First Trust Advisors LP now owns 1,737,955 shares of the utilities provider’s stock worth $90,808,000 after purchasing an additional 73,168 shares in the last quarter. State Street Corp raised its stake in Avangrid by 1.0% during the 3rd quarter. State Street Corp now owns 813,153 shares of the utilities provider’s stock valued at $42,841,000 after purchasing an additional 8,282 shares during the period. Covalis Capital LLP raised its stake in Avangrid by 62.7% during the 2nd quarter. Covalis Capital LLP now owns 616,606 shares of the utilities provider’s stock valued at $31,139,000 after purchasing an additional 237,706 shares during the period. Finally, Baillie Gifford & Co. raised its stake in Avangrid by 1.4% during the 2nd quarter. Baillie Gifford & Co. now owns 490,110 shares of the utilities provider’s stock valued at $24,751,000 after purchasing an additional 6,896 shares during the period. Institutional investors and hedge funds own 14.55% of the company’s stock.

Avangrid Company Profile

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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