PNC Financial Services Group Inc. increased its holdings in shares of Avangrid Inc (NYSE:AGR) by 32.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,515 shares of the utilities provider’s stock after purchasing an additional 1,583 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Avangrid were worth $345,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of AGR. Schwab Charles Investment Management Inc. increased its stake in Avangrid by 7.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 186,485 shares of the utilities provider’s stock worth $9,534,000 after purchasing an additional 13,655 shares in the last quarter. Northern Trust Corp increased its stake in Avangrid by 1.1% during the 1st quarter. Northern Trust Corp now owns 360,111 shares of the utilities provider’s stock worth $18,409,000 after purchasing an additional 3,961 shares in the last quarter. BlackRock Inc. increased its stake in Avangrid by 1.9% during the 1st quarter. BlackRock Inc. now owns 2,149,625 shares of the utilities provider’s stock worth $109,889,000 after purchasing an additional 40,833 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Avangrid by 132.8% during the 1st quarter. JPMorgan Chase & Co. now owns 17,550 shares of the utilities provider’s stock worth $897,000 after purchasing an additional 10,010 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Avangrid by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 241,018 shares of the utilities provider’s stock worth $12,321,000 after purchasing an additional 1,141 shares in the last quarter. 13.67% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on AGR shares. ValuEngine downgraded Avangrid from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. Zacks Investment Research raised Avangrid from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Wednesday, June 27th. Evercore ISI downgraded Avangrid from an “outperform” rating to an “in-line” rating and set a $53.00 price target for the company. in a research report on Wednesday, July 25th. Bank of America reduced their price target on Avangrid from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, July 25th. Finally, Wolfe Research downgraded Avangrid from a “peer perform” rating to an “underperform” rating in a research report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Avangrid currently has a consensus rating of “Hold” and a consensus price target of $54.38.

NYSE:AGR opened at $47.00 on Thursday. Avangrid Inc has a twelve month low of $45.17 and a twelve month high of $54.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.73 and a quick ratio of 0.64. The company has a market cap of $14.69 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.27 and a beta of 0.04.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, July 24th. The utilities provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.07). Avangrid had a return on equity of 4.47% and a net margin of 6.07%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the company earned $0.46 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. sell-side analysts forecast that Avangrid Inc will post 2.29 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 7th will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, September 6th. This represents a $1.76 dividend on an annualized basis and a yield of 3.74%. This is an increase from Avangrid’s previous quarterly dividend of $0.43. Avangrid’s dividend payout ratio is 80.00%.

Avangrid Company Profile

Avangrid, Inc operates as an energy services holding company in the United States. It engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. As of December 31, 2017, the company delivered electricity to approximately 2.2 million electric utility customers, as well as natural gas to approximately 1 million natural gas public utility customers; and owned approximately 67.5 billion cubic feet of net working gas storage capacity.

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Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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