State Street Corp Boosts Position in Avangrid, Inc. (NYSE:AGR)

State Street Corp boosted its position in shares of Avangrid, Inc. (NYSE:AGR) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 704,208 shares of the utilities provider’s stock after buying an additional 14,573 shares during the period. State Street Corp owned 0.23% of Avangrid worth $30,096,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its stake in Avangrid by 21.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 123,846 shares of the utilities provider’s stock worth $5,294,000 after buying an additional 22,189 shares during the last quarter. Invictus RG purchased a new stake in Avangrid during the first quarter worth $374,000. BlackRock Inc. increased its stake in Avangrid by 34,543.3% in the first quarter. BlackRock Inc. now owns 2,105,968 shares of the utilities provider’s stock worth $90,008,000 after buying an additional 2,099,889 shares during the last quarter. Renaissance Technologies LLC increased its stake in Avangrid by 51.6% in the first quarter. Renaissance Technologies LLC now owns 81,100 shares of the utilities provider’s stock worth $3,466,000 after buying an additional 27,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Avangrid by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 249,450 shares of the utilities provider’s stock worth $10,661,000 after buying an additional 4,661 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Avangrid, Inc. (NYSE AGR) traded down 0.15% during midday trading on Friday, reaching $46.08. The company’s stock had a trading volume of 39,795 shares. The firm has a 50 day moving average price of $44.83 and a 200 day moving average price of $43.18. The firm has a market cap of $14.24 billion, a P/E ratio of 21.13 and a beta of 0.56. Avangrid, Inc. has a one year low of $35.42 and a one year high of $46.39.

Avangrid (NYSE:AGR) last released its quarterly earnings data on Wednesday, July 19th. The utilities provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.40 by $0.06. Avangrid had a net margin of 11.25% and a return on equity of 4.52%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. The business’s revenue was down 7.5% on a year-over-year basis. Equities research analysts forecast that Avangrid, Inc. will post $2.23 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Thursday, September 7th. Avangrid’s dividend payout ratio (DPR) is presently 79.36%.

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A number of research firms have weighed in on AGR. Evercore ISI upgraded Avangrid from an “in-line” rating to an “outperform” rating and raised their price target for the company from $43.50 to $46.50 in a research report on Monday, July 24th. Zacks Investment Research downgraded Avangrid from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $46.10.

Avangrid Company Profile

Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.

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