Trexquant Investment LP lifted its stake in shares of Avangrid Inc (NYSE:AGR) by 160.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,335 shares of the utilities provider’s stock after acquiring an additional 30,426 shares during the quarter. Trexquant Investment LP’s holdings in Avangrid were worth $2,484,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new stake in shares of Avangrid during the 1st quarter worth about $25,000. ERTS Wealth Advisors LLC bought a new stake in shares of Avangrid during the 4th quarter worth about $34,000. Tyers Asset Management LLC bought a new stake in shares of Avangrid during the 1st quarter worth about $43,000. Bremer Trust National Association bought a new stake in shares of Avangrid during the 4th quarter worth about $49,000. Finally, Bremer Bank National Association bought a new stake in shares of Avangrid during the 1st quarter worth about $54,000. Institutional investors own 14.41% of the company’s stock.
Several research firms have recently issued reports on AGR. Zacks Investment Research downgraded Avangrid from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th. ValuEngine upgraded Avangrid from a “hold” rating to a “buy” rating in a research note on Friday, June 7th. Janney Montgomery Scott downgraded Avangrid from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $50.00 to $46.00 in a research note on Thursday, April 25th. Macquarie downgraded Avangrid from an “outperform” rating to a “neutral” rating and set a $49.50 target price for the company. in a research note on Monday, March 4th. Finally, KeyCorp started coverage on Avangrid in a research note on Tuesday, June 4th. They set a “sector weight” rating for the company. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $52.25.
Avangrid (NYSE:AGR) last announced its earnings results on Wednesday, April 24th. The utilities provider reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). Avangrid had a net margin of 8.80% and a return on equity of 4.27%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company earned $0.78 EPS. Avangrid’s revenue for the quarter was down 1.2% compared to the same quarter last year. Analysts anticipate that Avangrid Inc will post 2.27 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a dividend of $0.44 per share. The ex-dividend date is Thursday, June 6th. This represents a $1.76 annualized dividend and a yield of 3.42%. Avangrid’s payout ratio is 79.64%.
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Avangrid Company Profile
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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