Royal Bank of Canada Purchases 103,007 Shares of Avangrid, Inc. (AGR)
Royal Bank of Canada grew its position in shares of Avangrid, Inc. (NYSE:AGR) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,191,802 shares of the utilities provider’s stock after acquiring an additional 103,007 shares during the quarter. Royal Bank of Canada owned about 1.03% of Avangrid worth $140,919,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC lifted its holdings in shares of Avangrid by 102.2% in the 2nd quarter. Proficio Capital Partners LLC now owns 2,704 shares of the utilities provider’s stock worth $124,000 after purchasing an additional 1,367 shares in the last quarter. First Personal Financial Services grew its position in Avangrid by 3.4% in the 2nd quarter. First Personal Financial Services now owns 2,862 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 94 shares during the period. US Bancorp DE grew its position in Avangrid by 106.3% in the 1st quarter. US Bancorp DE now owns 2,863 shares of the utilities provider’s stock valued at $122,000 after purchasing an additional 1,475 shares during the period. Parallel Advisors LLC increased its stake in Avangrid by 20.1% during the 2nd quarter. Parallel Advisors LLC now owns 3,265 shares of the utilities provider’s stock valued at $148,000 after purchasing an additional 546 shares in the last quarter. Finally, Stifel Financial Corp bought a new stake in Avangrid during the 2nd quarter valued at $242,000. Hedge funds and other institutional investors own 13.22% of the company’s stock.
Shares of Avangrid, Inc. (NYSE AGR) traded up 0.46% during midday trading on Monday, reaching $47.64. The company had a trading volume of 267,928 shares. Avangrid, Inc. has a one year low of $35.42 and a one year high of $49.04. The company has a 50-day moving average price of $47.46 and a 200 day moving average price of $44.92. The company has a market capitalization of $14.72 billion, a P/E ratio of 21.84 and a beta of 0.49.
Avangrid (NYSE:AGR) last released its earnings results on Wednesday, July 19th. The utilities provider reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.43 billion. Avangrid had a net margin of 11.25% and a return on equity of 4.52%. The company’s revenue was down 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 EPS. Equities analysts anticipate that Avangrid, Inc. will post $2.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be paid a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 3.64%. The ex-dividend date is Thursday, September 7th. Avangrid’s payout ratio is currently 79.36%.
Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Avangrid from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Thursday, June 15th. Evercore ISI upgraded shares of Avangrid from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $43.50 to $46.50 in a report on Monday, July 24th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $47.38.
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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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