Rhumbline Advisers lessened its stake in shares of Avangrid, Inc. (NYSE:AGR) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,736 shares of the utilities provider’s stock after selling 1,678 shares during the quarter. Rhumbline Advisers’ holdings in Avangrid were worth $2,506,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in AGR. Franklin Resources Inc. acquired a new stake in Avangrid during the 1st quarter valued at $15,051,000. BlackRock Inc. grew its holdings in Avangrid by 7.4% during the 1st quarter. BlackRock Inc. now owns 4,347,945 shares of the utilities provider’s stock valued at $216,570,000 after buying an additional 301,284 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Avangrid during the 1st quarter valued at $13,505,000. JPMorgan Chase & Co. grew its holdings in Avangrid by 24.5% during the 1st quarter. JPMorgan Chase & Co. now owns 784,478 shares of the utilities provider’s stock valued at $39,075,000 after buying an additional 154,138 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Avangrid by 3,932.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 123,667 shares of the utilities provider’s stock valued at $6,160,000 after buying an additional 120,600 shares during the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.
NYSE:AGR opened at $50.12 on Tuesday. The business’s 50-day moving average is $53.23 and its two-hundred day moving average is $51.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.24 and a quick ratio of 1.15. Avangrid, Inc. has a 12 month low of $44.02 and a 12 month high of $56.20. The firm has a market capitalization of $19.41 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 3.20 and a beta of 0.23.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 3rd will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Thursday, September 2nd. Avangrid’s dividend payout ratio (DPR) is presently 87.13%.
Several equities research analysts have recently issued reports on AGR shares. Mizuho raised their price objective on Avangrid from $51.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, August 24th. Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating in a report on Monday, August 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $54.33.
Avangrid Company Profile
Avangrid, Inc engages in the energy transmission and gas distribution. It operates through the following segments: Networks, Renewables, and Other. The Networks segment includes energy transmission and distribution, electric transmission, and gas distribution activities. The Renewables segment relating to renewable energy, mainly wind energy generation and trading related with such activities.
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