Nisa Investment Advisors LLC Grows Stock Position in Avangrid Inc (NYSE:AGR)

Nisa Investment Advisors LLC increased its position in shares of Avangrid Inc (NYSE:AGR) by 37.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,100 shares of the utilities provider’s stock after buying an additional 3,000 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Avangrid were worth $561,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in Avangrid by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 254,916 shares of the utilities provider’s stock worth $12,768,000 after buying an additional 6,973 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Avangrid in the fourth quarter worth $224,000. Advisory Services Network LLC lifted its stake in shares of Avangrid by 18.2% in the fourth quarter. Advisory Services Network LLC now owns 1,506 shares of the utilities provider’s stock worth $75,000 after buying an additional 232 shares during the last quarter. FMR LLC lifted its stake in shares of Avangrid by 76.7% in the fourth quarter. FMR LLC now owns 1,868,081 shares of the utilities provider’s stock worth $93,572,000 after buying an additional 810,834 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Avangrid in the fourth quarter worth $36,303,000. 14.48% of the stock is currently owned by hedge funds and other institutional investors.

Avangrid stock traded down $0.51 on Monday, hitting $49.66. The company’s stock had a trading volume of 47,869 shares, compared to its average volume of 537,335. The stock has a market capitalization of $15.50 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 2.95 and a beta of 0.12. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $50.40. Avangrid Inc has a one year low of $45.81 and a one year high of $53.47.

Avangrid (NYSE:AGR) last announced its quarterly earnings results on Tuesday, July 23rd. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.07). Avangrid had a net margin of 8.85% and a return on equity of 4.09%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the firm earned $0.41 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. On average, analysts predict that Avangrid Inc will post 2.26 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Thursday, September 5th. Avangrid’s payout ratio is 79.64%.

In other news, Director Teresa A. Herbert bought 1,000 shares of the stock in a transaction dated Friday, July 26th. The shares were acquired at an average price of $48.95 per share, with a total value of $48,950.00. Following the acquisition, the director now owns 1,000 shares in the company, valued at $48,950. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is currently owned by corporate insiders.

A number of analysts have recently weighed in on the stock. Bank of America cut shares of Avangrid from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $53.00 to $52.50 in a research note on Thursday, April 25th. Janney Montgomery Scott cut shares of Avangrid from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $50.00 to $46.00 in a research note on Thursday, April 25th. Goldman Sachs Group upgraded shares of Avangrid from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $46.00 to $47.00 in a research note on Monday, April 8th. ValuEngine cut shares of Avangrid from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Finally, KeyCorp assumed coverage on shares of Avangrid in a research note on Tuesday, June 4th. They issued a “sector weight” rating for the company. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Avangrid has a consensus rating of “Hold” and an average price target of $51.17.

About Avangrid

Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.

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Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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