DekaBank Deutsche Girozentrale Sells 12,000 Shares of Avangrid, Inc. (AGR)
DekaBank Deutsche Girozentrale cut its position in Avangrid, Inc. (NYSE:AGR) by 46.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,675 shares of the utilities provider’s stock after selling 12,000 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Avangrid were worth $648,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of AGR. BlackRock Inc. grew its stake in shares of Avangrid by 34,543.3% in the 1st quarter. BlackRock Inc. now owns 2,105,968 shares of the utilities provider’s stock worth $90,008,000 after purchasing an additional 2,099,889 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Avangrid by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 5,324,114 shares of the utilities provider’s stock worth $235,061,000 after purchasing an additional 181,812 shares during the last quarter. Trillium Asset Management LLC acquired a new position in shares of Avangrid in the 2nd quarter worth approximately $7,231,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Avangrid by 81.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 312,598 shares of the utilities provider’s stock worth $13,801,000 after purchasing an additional 139,914 shares during the last quarter. Finally, Baillie Gifford & Co. grew its stake in shares of Avangrid by 34.8% in the 3rd quarter. Baillie Gifford & Co. now owns 482,360 shares of the utilities provider’s stock worth $22,874,000 after purchasing an additional 124,571 shares during the last quarter. Hedge funds and other institutional investors own 14.03% of the company’s stock.
Shares of Avangrid, Inc. (NYSE AGR) opened at $52.21 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 0.31. The company has a market cap of $16,133.15, a P/E ratio of 23.10, a P/E/G ratio of 2.84 and a beta of 0.55. Avangrid, Inc. has a fifty-two week low of $35.42 and a fifty-two week high of $53.10.
Avangrid (NYSE:AGR) last posted its quarterly earnings results on Tuesday, October 24th. The utilities provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.37 by $0.03. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Avangrid had a net margin of 11.23% and a return on equity of 4.60%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company posted $0.35 earnings per share. analysts anticipate that Avangrid, Inc. will post 2.22 EPS for the current year.
AGR has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Avangrid from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Wells Fargo & Company downgraded shares of Avangrid from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 1st. Bank of America Corporation initiated coverage on shares of Avangrid in a research report on Tuesday, October 24th. They issued a “buy” rating and a $52.00 target price on the stock. Finally, J P Morgan Chase & Co raised their price target on shares of Avangrid from $43.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $47.50.
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Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.
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