Avangrid Inc. (AGR) Shares Bought by California Public Employees Retirement System
California Public Employees Retirement System boosted its stake in shares of Avangrid Inc. (NYSE:AGR) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,800 shares of the company’s stock after buying an additional 1,800 shares during the period. California Public Employees Retirement System’s holdings in Avangrid were worth $3,998,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in Avangrid by 62.4% in the first quarter. Wellington Management Group LLP now owns 6,416,315 shares of the company’s stock valued at $257,357,000 after buying an additional 2,465,504 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Avangrid by 191.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,245,771 shares of the company’s stock valued at $49,968,000 after buying an additional 818,822 shares during the period. Royal Bank of Canada raised its position in Avangrid by 29.0% in the first quarter. Royal Bank of Canada now owns 2,291,419 shares of the company’s stock valued at $91,909,000 after buying an additional 514,602 shares during the period. Norges Bank bought a new position in Avangrid during the fourth quarter valued at approximately $16,869,000. Finally, Artemis Investment Management LLP bought a new position in Avangrid during the second quarter valued at approximately $16,867,000. 13.06% of the stock is currently owned by institutional investors and hedge funds.
Avangrid Inc. (NYSE:AGR) traded up 2.83% during midday trading on Wednesday, reaching $43.17. The company’s stock had a trading volume of 239,066 shares. The firm has a market capitalization of $13.34 billion and a PE ratio of 26.36. Avangrid Inc. has a 52 week low of $32.45 and a 52 week high of $46.74. The stock has a 50 day moving average of $42.82 and a 200 day moving average of $42.05.
Avangrid (NYSE:AGR) last issued its earnings results on Monday, July 18th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.43 by $0.11. Avangrid had a return on equity of 3.07% and a net margin of 8.74%. On average, equities research analysts predict that Avangrid Inc. will post $2.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be given a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 4.00%. The ex-dividend date is Wednesday, September 7th.
Several equities analysts recently commented on the company. Zacks Investment Research lowered Avangrid from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Guggenheim started coverage on Avangrid in a research report on Thursday, September 8th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.00.
Avangrid, Inc is a diversified energy and utility company with more than $30 billion in assets and operations in 25 states. The company operates regulated utilities and electricity generation through two primary lines of business. Avangrid Networks includes eight electric and natural gas utilities, serving approximately 3.1 million customers in New York and New England.
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