Wells Fargo & Company MN Has $32.69 Million Holdings in Avangrid Inc (AGR)

Wells Fargo & Company MN grew its holdings in Avangrid Inc (NYSE:AGR) by 255.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 689,384 shares of the utilities provider’s stock after acquiring an additional 495,371 shares during the quarter. Wells Fargo & Company MN owned about 0.22% of Avangrid worth $32,692,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Avangrid in the 3rd quarter valued at about $455,000. Legal & General Group Plc increased its holdings in shares of Avangrid by 17.8% in the 3rd quarter. Legal & General Group Plc now owns 295,286 shares of the utilities provider’s stock valued at $14,002,000 after acquiring an additional 44,528 shares during the last quarter. Ffcm LLC purchased a new position in shares of Avangrid in the 3rd quarter valued at about $134,000. Robecosam AG increased its holdings in shares of Avangrid by 7.7% in the 3rd quarter. Robecosam AG now owns 140,000 shares of the utilities provider’s stock valued at $6,607,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Park Avenue Securities LLC increased its holdings in shares of Avangrid by 46.5% in the 3rd quarter. Park Avenue Securities LLC now owns 9,245 shares of the utilities provider’s stock valued at $440,000 after acquiring an additional 2,935 shares during the last quarter. Institutional investors and hedge funds own 13.83% of the company’s stock.

A number of research analysts have recently commented on AGR shares. J P Morgan Chase & Co increased their price objective on Avangrid from $43.00 to $47.00 and gave the company an “underweight” rating in a report on Thursday, October 12th. Bank of America began coverage on Avangrid in a report on Tuesday, October 24th. They issued a “buy” rating and a $52.00 price objective on the stock. Zacks Investment Research downgraded Avangrid from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. Finally, Wells Fargo & Company downgraded Avangrid from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Avangrid currently has an average rating of “Hold” and a consensus target price of $47.50.

Avangrid Inc (NYSE:AGR) opened at $51.60 on Thursday. The stock has a market capitalization of $15,817.98, a P/E ratio of 22.65, a P/E/G ratio of 2.80 and a beta of 0.55. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.56 and a current ratio of 0.69. Avangrid Inc has a 12 month low of $35.89 and a 12 month high of $53.46.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, October 24th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. Avangrid had a return on equity of 4.60% and a net margin of 11.23%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS. analysts expect that Avangrid Inc will post 2.21 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be paid a dividend of $0.432 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $1.73 dividend on an annualized basis and a yield of 3.35%. Avangrid’s dividend payout ratio is presently 80.47%.

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About Avangrid

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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Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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