Janney Montgomery Scott LLC cut its stake in shares of Avangrid, Inc. (NYSE:AGR – Free Report) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,627 shares of the utilities provider’s stock after selling 378 shares during the period. Janney Montgomery Scott LLC’s holdings in Avangrid were worth $1,003,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale increased its holdings in shares of Avangrid by 21.9% during the second quarter. DekaBank Deutsche Girozentrale now owns 70,427 shares of the utilities provider’s stock worth $2,628,000 after buying an additional 12,656 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Avangrid by 4.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 28,254 shares of the utilities provider’s stock worth $1,065,000 after buying an additional 1,305 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Avangrid by 34.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,301 shares of the utilities provider’s stock worth $49,000 after buying an additional 330 shares in the last quarter. Creative Planning increased its holdings in shares of Avangrid by 36.2% during the second quarter. Creative Planning now owns 22,956 shares of the utilities provider’s stock worth $865,000 after buying an additional 6,096 shares in the last quarter. Finally, Csenge Advisory Group increased its holdings in shares of Avangrid by 2.5% during the second quarter. Csenge Advisory Group now owns 12,513 shares of the utilities provider’s stock worth $471,000 after buying an additional 301 shares in the last quarter. 12.93% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the company. TheStreet downgraded Avangrid from a “b-” rating to a “c” rating in a report on Monday, August 28th. StockNews.com downgraded Avangrid from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Finally, Mizuho decreased their price objective on Avangrid from $39.00 to $37.00 in a report on Wednesday, August 30th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $37.75.
Avangrid Stock Performance
Shares of Avangrid stock opened at $30.09 on Wednesday. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average price of $32.62 and a two-hundred day moving average price of $36.34. Avangrid, Inc. has a 1-year low of $27.46 and a 1-year high of $44.77. The company has a market cap of $11.64 billion, a P/E ratio of 20.06, a PEG ratio of 3.53 and a beta of 0.47.
Avangrid (NYSE:AGR – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). Avangrid had a return on equity of 2.94% and a net margin of 7.23%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the business posted $0.46 earnings per share. The business’s revenue was down 11.5% on a year-over-year basis. As a group, analysts anticipate that Avangrid, Inc. will post 2.14 EPS for the current year.
Avangrid Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be issued a dividend of $0.44 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.76 dividend on an annualized basis and a yield of 5.85%. Avangrid’s payout ratio is currently 117.33%.
About Avangrid
Avangrid, Inc, an energy services holding company, engages in the regulated energy transmission and distribution, and renewable energy generation businesses in the United States. The company operates in two segments: Networks and Renewables. It is involved in the generation, transmission, and distribution of electricity; and distribution, transportation, and sale of natural gas.
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