Park Avenue Securities LLC grew its holdings in shares of Avangrid Inc (NYSE:AGR) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,312 shares of the utilities provider’s stock after acquiring an additional 926 shares during the quarter. Park Avenue Securities LLC’s holdings in Avangrid were worth $1,026,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of AGR. FMR LLC boosted its position in shares of Avangrid by 76.7% during the 4th quarter. FMR LLC now owns 1,868,081 shares of the utilities provider’s stock valued at $93,572,000 after acquiring an additional 810,834 shares during the last quarter. Norges Bank bought a new stake in shares of Avangrid during the 4th quarter valued at about $36,303,000. Hennessy Advisors Inc. boosted its position in shares of Avangrid by 973.8% during the 2nd quarter. Hennessy Advisors Inc. now owns 184,700 shares of the utilities provider’s stock valued at $9,327,000 after acquiring an additional 167,500 shares during the last quarter. Daiwa SB Investments Ltd. boosted its position in shares of Avangrid by 42.0% during the 1st quarter. Daiwa SB Investments Ltd. now owns 346,547 shares of the utilities provider’s stock valued at $17,449,000 after acquiring an additional 102,547 shares during the last quarter. Finally, Martingale Asset Management L P boosted its position in shares of Avangrid by 236.8% during the 1st quarter. Martingale Asset Management L P now owns 114,518 shares of the utilities provider’s stock valued at $5,767,000 after acquiring an additional 80,517 shares during the last quarter. Hedge funds and other institutional investors own 14.48% of the company’s stock.
NYSE:AGR traded up $0.87 during mid-day trading on Tuesday, reaching $50.09. The stock had a trading volume of 15,511 shares, compared to its average volume of 546,495. The company has a 50 day moving average price of $50.30. The company has a market capitalization of $15.50 billion, a PE ratio of 22.27, a P/E/G ratio of 2.95 and a beta of 0.12. Avangrid Inc has a one year low of $45.81 and a one year high of $53.47. The company has a quick ratio of 0.56, a current ratio of 0.64 and a debt-to-equity ratio of 0.41.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a $0.44 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $1.76 dividend on an annualized basis and a yield of 3.51%. Avangrid’s payout ratio is 79.64%.
A number of analysts have recently issued reports on AGR shares. ValuEngine downgraded Avangrid from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. KeyCorp began coverage on Avangrid in a research report on Tuesday, June 4th. They set a “sector weight” rating for the company. Janney Montgomery Scott downgraded Avangrid from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $50.00 to $46.00 in a research report on Thursday, April 25th. Goldman Sachs Group upgraded Avangrid from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $46.00 to $47.00 in a research report on Monday, April 8th. Finally, Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating in a research report on Thursday, July 4th. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Avangrid presently has an average rating of “Hold” and an average price target of $51.17.
In related news, Director Teresa A. Herbert purchased 1,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were acquired at an average cost of $48.95 per share, with a total value of $48,950.00. Following the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at $48,950. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.37% of the company’s stock.
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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