Panagora Asset Management Inc. Raises Stock Position in Avangrid Inc (NYSE:AGR)

Panagora Asset Management Inc. lifted its holdings in shares of Avangrid Inc (NYSE:AGR) by 1,278.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,916 shares of the utilities provider’s stock after purchasing an additional 24,036 shares during the quarter. Panagora Asset Management Inc.’s holdings in Avangrid were worth $1,309,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Exane Asset Management grew its holdings in shares of Avangrid by 78.2% in the first quarter. Exane Asset Management now owns 37,552 shares of the utilities provider’s stock valued at $1,891,000 after purchasing an additional 16,481 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in Avangrid by 973.8% during the 2nd quarter. Hennessy Advisors Inc. now owns 184,700 shares of the utilities provider’s stock worth $9,327,000 after buying an additional 167,500 shares in the last quarter. Martingale Asset Management L P boosted its position in Avangrid by 236.8% in 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 buying an additional 80,517 shares during the period. FMR LLC boosted its position in Avangrid by 34.0% in the 1st quarter. FMR LLC now owns 2,502,651 shares of the utilities provider’s stock valued at $126,008,000 after buying an additional 634,570 shares during the period. Finally, First Trust Advisors LP boosted its position in Avangrid by 3.9% in the 1st quarter. First Trust Advisors LP now owns 650,402 shares of the utilities provider’s stock valued at $32,748,000 after buying an additional 24,439 shares during the period. 14.08% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Teresa A. Herbert purchased 1,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were bought at an average price of $48.95 per share, with a total value of $48,950.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $48,950. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is owned by insiders.



AGR has been the topic of a number of recent research reports. Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating in a research report on Thursday, July 4th. Goldman Sachs Group set a $50.00 target price on Avangrid and gave the company a “hold” rating in a report on Monday, August 12th. KeyCorp assumed coverage on Avangrid in a report on Tuesday, June 4th. They issued a “sector weight” rating for the company. Citigroup downgraded Avangrid from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $62.00 to $52.00 in a research report on Monday, August 12th. Finally, ValuEngine cut shares of Avangrid from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Avangrid currently has a consensus rating of “Hold” and a consensus price target of $50.83.

Avangrid stock traded up $0.05 during mid-day trading on Wednesday, hitting $49.99. The company had a trading volume of 2,111 shares, compared to its average volume of 374,902. The company has a quick ratio of 0.56, a current ratio of 0.64 and a debt-to-equity ratio of 0.41. Avangrid Inc has a 1 year low of $45.81 and a 1 year high of $53.47. The business has a fifty day moving average of $49.78 and a 200 day moving average of $50.21. The stock has a market cap of $15.31 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 2.94 and a beta of 0.13.

Avangrid (NYSE:AGR) last issued its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). Avangrid had a return on equity of 4.09% and a net margin of 8.85%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the firm posted $0.41 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. Equities analysts anticipate that Avangrid Inc will post 2.25 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a dividend of $0.44 per share. The ex-dividend date is Thursday, September 5th. This represents a $1.76 annualized dividend and a yield of 3.52%. Avangrid’s dividend payout ratio is currently 79.64%.

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.

Featured Story: What is meant by holder of record?

Want to see what other hedge funds are holding AGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avangrid Inc (NYSE:AGR).

Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

Receive News & Ratings for Avangrid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avangrid and related companies with MarketBeat.com's FREE daily email newsletter.