Signature Estate & Investment Advisors LLC Buys New Holdings in Avangrid, Inc. (AGR)
Signature Estate & Investment Advisors LLC bought a new position in Avangrid, Inc. (NYSE:AGR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,634 shares of the utilities provider’s stock, valued at approximately $599,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC lifted its holdings in shares of Avangrid by 102.2% during the second quarter. Proficio Capital Partners LLC now owns 2,704 shares of the utilities provider’s stock valued at $124,000 after purchasing an additional 1,367 shares in the last quarter. First Personal Financial Services lifted its holdings in shares of Avangrid by 3.4% during the second 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 in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Avangrid by 20.1% during the second 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. US Bancorp DE lifted its holdings in shares of Avangrid by 59.4% during the second quarter. US Bancorp DE now owns 4,565 shares of the utilities provider’s stock valued at $201,000 after purchasing an additional 1,702 shares in the last quarter. Finally, McKinley Carter Wealth Services Inc. bought a new position in shares of Avangrid during the third quarter valued at $207,000. 13.30% of the stock is currently owned by institutional investors and hedge funds.
AGR has been the topic of a number of research analyst reports. Bank of America Corporation initiated coverage on Avangrid in a report on Tuesday, October 24th. They set a “buy” rating and a $52.00 price target on the stock. Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Wells Fargo & Company downgraded Avangrid from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 1st. Evercore ISI raised Avangrid from an “in-line” rating to an “outperform” rating and upped their price target for the company from $43.50 to $46.50 in a report on Monday, July 24th. Finally, J P Morgan Chase & Co upped their price target on Avangrid from $43.00 to $47.00 and gave the company an “underweight” rating in a report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Avangrid currently has a consensus rating of “Hold” and an average price target of $47.50.
Avangrid (NYSE:AGR) last posted its quarterly earnings data on Tuesday, October 24th. The utilities provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Avangrid had a return on equity of 4.60% and a net margin of 11.23%. Avangrid’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 earnings per share. equities research analysts anticipate that Avangrid, Inc. will post 2.22 EPS for the current fiscal year.
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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