Vanguard Group Inc. increased its stake in shares of Avangrid Inc. (NYSE:AGR) by 6.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,660,443 shares of the company’s stock after buying an additional 269,052 shares during the period. Vanguard Group Inc. owned about 1.51% of Avangrid worth $214,660,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. AMP Capital Investors Ltd boosted its position in Avangrid by 75.2% in the first quarter. AMP Capital Investors Ltd now owns 45,554 shares of the company’s stock valued at $1,835,000 after buying an additional 19,554 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Avangrid by 55.9% in the first quarter. Nuveen Asset Management LLC now owns 199,763 shares of the company’s stock valued at $8,012,000 after buying an additional 71,642 shares in the last quarter. Wellington Management Group LLP boosted its position in Avangrid by 62.4% in the first quarter. Wellington Management Group LLP now owns 6,416,315 shares of the company’s stock valued at $257,357,000 after buying an additional 2,465,504 shares in the last quarter. Geode Capital Management LLC boosted its position in Avangrid by 497.9% in the first quarter. Geode Capital Management LLC now owns 430,154 shares of the company’s stock valued at $17,253,000 after buying an additional 358,212 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Avangrid during the first quarter valued at approximately $772,000. Institutional investors and hedge funds own 13.06% of the company’s stock.
Shares of Avangrid Inc. (NYSE:AGR) opened at 40.00 on Friday. The company has a 50 day moving average of $41.49 and a 200 day moving average of $42.23. Avangrid Inc. has a 1-year low of $32.45 and a 1-year high of $46.74. The firm has a market cap of $12.36 billion and a price-to-earnings ratio of 24.42.
Avangrid (NYSE:AGR) last posted its earnings results on Monday, July 18th. The company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.11. Avangrid had a return on equity of 3.07% and a net margin of 8.74%. On average, equities analysts forecast that Avangrid Inc. will post $2.12 earnings per share for the current fiscal year.
Several equities analysts have recently commented on the stock. Zacks Investment Research cut shares of Avangrid from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. JPMorgan Chase & Co. cut shares of Avangrid from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $44.00 to $41.00 in a report on Friday, September 23rd. Finally, Guggenheim began coverage on shares of Avangrid in a research note on Thursday, September 8th. They issued a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Avangrid currently has an average rating of “Hold” and a consensus price target of $41.75.
Avangrid, Inc is a diversified energy and utility company with more than $30 billion in assets and operations in 25 states. The company operates regulated utilities and electricity generation through two primary lines of business. Avangrid Networks includes eight electric and natural gas utilities, serving approximately 3.1 million customers in New York and New England.
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