Robecosam AG Buys 10,000 Shares of Avangrid, Inc. (AGR)
Robecosam AG increased its stake in shares of Avangrid, Inc. (NYSE:AGR) by 7.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,000 shares of the utilities provider’s stock after acquiring an additional 10,000 shares during the quarter. Robecosam AG’s holdings in Avangrid were worth $6,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Park Avenue Securities LLC lifted its holdings in Avangrid by 46.5% in the 3rd quarter. Park Avenue Securities LLC now owns 9,245 shares of the utilities provider’s stock worth $440,000 after buying an additional 2,935 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Avangrid by 26.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,273 shares of the utilities provider’s stock worth $1,436,000 after buying an additional 6,273 shares during the period. Yorktown Management & Research Co Inc purchased a new stake in Avangrid in the 3rd quarter worth approximately $327,000. SG Americas Securities LLC purchased a new stake in Avangrid in the 3rd quarter worth approximately $257,000. Finally, Advisors Asset Management Inc. lifted its holdings in Avangrid by 12.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 47,896 shares of the utilities provider’s stock worth $2,271,000 after buying an additional 5,157 shares during the period. Institutional investors and hedge funds own 14.03% of the company’s stock.
Several equities research analysts have weighed in on AGR shares. J P Morgan Chase & Co increased their price objective on Avangrid from $43.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, October 12th. Zacks Investment Research cut Avangrid from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Bank of America Corporation assumed coverage on Avangrid in a report on Tuesday, October 24th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Wells Fargo & Company cut Avangrid from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Avangrid presently has an average rating of “Hold” and a consensus price target of $47.50.
Avangrid, Inc. (NYSE AGR) opened at $52.21 on Friday. The company has a market capitalization of $15,984.84, a P/E ratio of 22.89, a PEG ratio of 2.81 and a beta of 0.55. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.69 and a quick ratio of 0.56. Avangrid, Inc. has a one year low of $35.42 and a one year high of $53.10.
Avangrid (NYSE:AGR) last released its earnings results on Tuesday, October 24th. The utilities provider reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.03. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Avangrid had a return on equity of 4.60% and a net margin of 11.23%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS. analysts expect that Avangrid, Inc. will post 2.22 earnings per share for the current year.
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Avangrid Company Profile
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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