Assenagon Asset Management S.A. Has $2.37 Million Holdings in Avangrid, Inc. (NYSE:AGR)

Assenagon Asset Management S.A. lowered its stake in Avangrid, Inc. (NYSE:AGRFree Report) by 58.9% during the first quarter, Holdings Channel reports. The firm owned 64,919 shares of the utilities provider’s stock after selling 93,065 shares during the period. Assenagon Asset Management S.A.’s holdings in Avangrid were worth $2,366,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. grew its position in Avangrid by 2,285.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 96,754 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 92,698 shares during the last quarter. BKM Wealth Management LLC bought a new position in Avangrid in the fourth quarter valued at about $41,000. GAMMA Investing LLC bought a new position in Avangrid in the fourth quarter valued at about $60,000. Clearstead Advisors LLC grew its position in Avangrid by 60.7% in the third quarter. Clearstead Advisors LLC now owns 3,178 shares of the utilities provider’s stock valued at $96,000 after acquiring an additional 1,200 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Avangrid by 37.1% in the third quarter. SG Americas Securities LLC now owns 3,639 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 985 shares during the last quarter. Institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AGR shares. Wells Fargo & Company lifted their target price on Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd. Janney Montgomery Scott reiterated a “sell” rating and issued a $35.00 target price on shares of Avangrid in a research report on Friday, March 8th. Finally, StockNews.com upgraded Avangrid from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $34.75.

Read Our Latest Research Report on AGR

Avangrid Trading Down 0.2 %

Shares of NYSE:AGR traded down $0.07 during midday trading on Tuesday, hitting $35.98. 1,091,029 shares of the stock were exchanged, compared to its average volume of 928,850. The stock has a market capitalization of $13.92 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 2.68 and a beta of 0.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.58. The business’s 50-day moving average price is $36.28 and its 200 day moving average price is $33.38. Avangrid, Inc. has a 12 month low of $27.46 and a 12 month high of $39.14.

Avangrid (NYSE:AGRGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.18. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 earnings per share. Analysts predict that Avangrid, Inc. will post 2.23 earnings per share for the current year.

Avangrid Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Monday, June 3rd. Avangrid’s payout ratio is presently 76.19%.

Avangrid Company Profile

(Free Report)

Avangrid, Inc, an energy services holding company, engages in the regulated energy transmission and distribution, and renewable energy generation businesses in the United States. The company operates through Networks and Renewables segments. It is involved in the generation, transmission, and distribution of electricity; and distribution, transportation, and sale of natural gas.

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Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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