ARP Americas LP grew its position in Avangrid Inc (NYSE:AGR) by 27.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,600 shares of the utilities provider’s stock after buying an additional 2,500 shares during the period. ARP Americas LP’s holdings in Avangrid were worth $487,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. John G Ullman & Associates Inc. boosted its holdings in shares of Avangrid by 677.2% in the 2nd quarter. John G Ullman & Associates Inc. now owns 78,500 shares of the utilities provider’s stock valued at $3,295,000 after buying an additional 68,400 shares in the last quarter. Miller Howard Investments Inc. NY raised its position in shares of Avangrid by 1.5% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 111,303 shares of the utilities provider’s stock valued at $4,672,000 after purchasing an additional 1,682 shares during the last quarter. First Quadrant L P CA purchased a new position in shares of Avangrid in the 2nd quarter valued at approximately $819,000. Cambridge Investment Research Advisors Inc. raised its position in shares of Avangrid by 147.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 15,630 shares of the utilities provider’s stock valued at $656,000 after purchasing an additional 9,325 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Avangrid by 72.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 10,700 shares of the utilities provider’s stock valued at $449,000 after purchasing an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 14.88% of the company’s stock.
Several equities analysts recently commented on AGR shares. Zacks Investment Research lowered shares of Avangrid from a “hold” rating to a “sell” rating in a research report on Thursday, July 23rd. Wells Fargo & Co raised shares of Avangrid from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $47.00 to $48.00 in a research report on Wednesday, July 1st. Morgan Stanley raised their price target on shares of Avangrid from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Seaport Global Securities began coverage on shares of Avangrid in a research report on Wednesday, May 20th. They set a “neutral” rating for the company. Finally, Bank of America raised shares of Avangrid from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $43.00 to $47.00 in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Avangrid presently has a consensus rating of “Hold” and an average target price of $48.50.
Avangrid (NYSE:AGR) last issued its quarterly earnings data on Tuesday, July 21st. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Avangrid had a net margin of 11.17% and a return on equity of 4.38%. On average, analysts predict that Avangrid Inc will post 2.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a $0.44 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.76 annualized dividend and a yield of 3.53%. Avangrid’s dividend payout ratio (DPR) is currently 81.11%.
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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