Avangrid Inc. (AGR) Shares Bought by WESPAC Advisors LLC
WESPAC Advisors LLC raised its position in shares of Avangrid Inc. (NYSE:AGR) by 19.9% during the second quarter, Holdings Channel reports. The institutional investor owned 14,371 shares of the company’s stock after buying an additional 2,390 shares during the period. WESPAC Advisors LLC’s holdings in Avangrid were worth $662,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Sigma Planning Corp increased its position in shares of Avangrid by 6.8% in the second quarter. Sigma Planning Corp now owns 6,141 shares of the company’s stock worth $283,000 after buying an additional 390 shares in the last quarter. BlackRock Inc. increased its position in shares of Avangrid by 176.6% in the first quarter. BlackRock Inc. now owns 7,713 shares of the company’s stock worth $310,000 after buying an additional 4,924 shares in the last quarter. M&T Bank Corp increased its position in shares of Avangrid by 4.1% in the first quarter. M&T Bank Corp now owns 7,977 shares of the company’s stock worth $319,000 after buying an additional 317 shares in the last quarter. BlackRock Japan Co. Ltd acquired a new position in shares of Avangrid during the first quarter worth about $321,000. Finally, IFP Advisors Inc increased its position in shares of Avangrid by 93.2% in the first quarter. IFP Advisors Inc now owns 8,718 shares of the company’s stock worth $350,000 after buying an additional 4,206 shares in the last quarter. Institutional investors own 13.06% of the company’s stock.
Avangrid Inc. (NYSE:AGR) traded up 2.83% on Wednesday, hitting $43.17. The company’s stock had a trading volume of 239,066 shares. The firm has a market cap of $13.34 billion and a price-to-earnings ratio of 26.36. Avangrid Inc. has a 12 month low of $32.45 and a 12 month high of $46.74. The firm has a 50 day moving average of $42.82 and a 200 day moving average of $42.05.
Avangrid (NYSE:AGR) last released its quarterly earnings results on Monday, July 18th. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.11. Avangrid had a return on equity of 3.07% and a net margin of 8.74%. Equities research analysts forecast that Avangrid Inc. will post $2.12 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be given a $0.432 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.73 annualized dividend and a yield of 4.00%.
A number of brokerages recently issued reports on AGR. Guggenheim began coverage on Avangrid in a report on Thursday, September 8th. They set a “neutral” rating on the stock. Zacks Investment Research downgraded Avangrid from a “hold” rating to a “sell” rating in a report on Thursday, July 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Avangrid 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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