Whitehelm Capital Pty Ltd cut its stake in Avangrid Inc (NYSE:AGR) by 7.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,683 shares of the utilities provider’s stock after selling 10,790 shares during the period. Avangrid makes up about 7.3% of Whitehelm Capital Pty Ltd’s holdings, making the stock its 6th largest holding. Whitehelm Capital Pty Ltd’s holdings in Avangrid were worth $7,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. FMR LLC grew its position in Avangrid by 76.7% in the fourth quarter. FMR LLC now owns 1,868,081 shares of the utilities provider’s stock worth $93,572,000 after acquiring an additional 810,834 shares during the period. Norges Bank acquired a new position in Avangrid during the fourth quarter worth $36,303,000. Millennium Management LLC lifted its stake in Avangrid by 123.3% during the fourth quarter. Millennium Management LLC now owns 383,625 shares of the utilities provider’s stock worth $19,216,000 after purchasing an additional 211,806 shares in the last quarter. Hennessy Advisors Inc. lifted its stake in Avangrid by 973.8% during the second quarter. Hennessy Advisors Inc. now owns 184,700 shares of the utilities provider’s stock worth $9,327,000 after purchasing an additional 167,500 shares in the last quarter. Finally, Daiwa SB Investments Ltd. lifted its stake in Avangrid by 42.0% during the first quarter. Daiwa SB Investments Ltd. now owns 346,547 shares of the utilities provider’s stock worth $17,449,000 after purchasing an additional 102,547 shares in the last quarter. Institutional investors and hedge funds own 14.47% of the company’s stock.

A number of research analysts have commented on the company. Bank of America upgraded Air Products & Chemicals from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $170.00 to $215.00 in a research note on Thursday, April 25th. Janney Montgomery Scott cut Avangrid from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $50.00 to $46.00 in a research note on Thursday, April 25th. Zacks Investment Research cut GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research note on Thursday, July 4th. Goldman Sachs Group restated a “neutral” rating and set a $393.00 price target on shares of Boeing in a research note on Monday, April 8th. Finally, KeyCorp assumed coverage on Southern in a research note on Tuesday, June 4th. They set a “sector weight” rating on the stock. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Avangrid has a consensus rating of “Hold” and a consensus price target of $51.17.

NYSE:AGR traded up $0.52 during trading hours on Monday, reaching $49.49. 12,049 shares of the stock were exchanged, compared to its average volume of 430,921. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.63 and a quick ratio of 0.57. The stock has a 50-day simple moving average of $50.61. Avangrid Inc has a twelve month low of $45.81 and a twelve month high of $53.47. The stock has a market cap of $15.13 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 2.90 and a beta of 0.12.

Avangrid (NYSE:AGR) last announced its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07). The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.38 billion. Avangrid had a net margin of 8.85% and a return on equity of 4.09%. The firm’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 earnings per share. As a group, analysts forecast that Avangrid Inc will post 2.24 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Thursday, September 5th. Avangrid’s payout ratio is currently 79.64%.

Avangrid Profile

Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.

Further Reading: Earnings Per Share

Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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