Janney Montgomery Scott LLC Maintains Stake in Avangrid Inc. (AGR)
Janney Montgomery Scott LLC maintained its position in Avangrid Inc. (NYSE:AGR) during the second quarter, according to its most recent filing with the SEC. The firm owned 5,456 shares of the company’s stock at the end of the second quarter. Janney Montgomery Scott LLC’s holdings in Avangrid were worth $210,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in AGR. Creative Planning raised its stake in Avangrid by 0.4% in the second quarter. Creative Planning now owns 14,295 shares of the company’s stock valued at $658,000 after buying an additional 52 shares in the last quarter. MSI Financial Services Inc raised its stake in Avangrid by 3.1% in the second quarter. MSI Financial Services Inc now owns 8,725 shares of the company’s stock valued at $402,000 after buying an additional 259 shares in the last quarter. M&T Bank Corp raised its stake in Avangrid by 4.1% in the first quarter. M&T Bank Corp now owns 7,977 shares of the company’s stock valued at $319,000 after buying an additional 317 shares in the last quarter. Sigma Planning Corp raised its stake in Avangrid by 6.8% in the second quarter. Sigma Planning Corp now owns 6,141 shares of the company’s stock valued at $283,000 after buying an additional 390 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its stake in Avangrid by 0.8% in the second quarter. Eagle Asset Management Inc. now owns 52,194 shares of the company’s stock valued at $2,404,000 after buying an additional 436 shares in the last quarter. Institutional investors own 13.30% of the company’s stock.
Shares of Avangrid Inc. (NYSE:AGR) traded up 0.36% on Tuesday, hitting $41.98. The stock had a trading volume of 222,940 shares. The firm has a 50 day moving average price of $42.91 and a 200-day moving average price of $42.02. The company has a market cap of $12.97 billion and a price-to-earnings ratio of 25.63. Avangrid Inc. has a 52 week low of $32.45 and a 52 week high of $46.74.
Avangrid (NYSE:AGR) last released its earnings results on Monday, July 18th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.11. Avangrid had a net margin of 8.74% and a return on equity of 3.07%. Analysts anticipate that Avangrid Inc. will post $2.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be issued a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Wednesday, September 7th.
Several brokerages have weighed in on AGR. Zacks Investment Research lowered Avangrid from a “hold” rating to a “sell” rating in a research report on Thursday, July 21st. Guggenheim began coverage on Avangrid in a research report on Thursday, September 8th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $41.00.
Avangrid Company Profile
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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