Becker Capital Management Inc. Cuts Stake in Avangrid, Inc. (NYSE:AGR)

Becker Capital Management Inc. reduced its stake in shares of Avangrid, Inc. (NYSE:AGR) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,978 shares of the utilities provider’s stock after selling 5,479 shares during the quarter. Becker Capital Management Inc.’s holdings in Avangrid were worth $7,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Denali Advisors LLC grew its holdings in shares of Avangrid by 189.5% in the third quarter. Denali Advisors LLC now owns 5,500 shares of the utilities provider’s stock valued at $267,000 after purchasing an additional 3,600 shares in the last quarter. TPG Financial Advisors LLC raised its holdings in shares of Avangrid by 8.2% in the third quarter. TPG Financial Advisors LLC now owns 4,947 shares of the utilities provider’s stock valued at $240,000 after acquiring an additional 375 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Avangrid by 3.2% in the second quarter. Parametric Portfolio Associates LLC now owns 414,643 shares of the utilities provider’s stock valued at $21,325,000 after purchasing an additional 13,000 shares during the last quarter. Morgan Stanley grew its stake in Avangrid by 22.4% in the second quarter. Morgan Stanley now owns 950,164 shares of the utilities provider’s stock valued at $48,868,000 after purchasing an additional 173,680 shares during the last quarter. Finally, Waddell & Associates LLC acquired a new stake in shares of Avangrid during the second quarter worth $253,000. 10.70% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE AGR traded up $0.20 during trading on Thursday, reaching $52.21. The stock had a trading volume of 493,648 shares, compared to its average volume of 539,247. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.06 and a current ratio of 1.17. The firm’s 50 day moving average price is $51.13 and its two-hundred day moving average price is $52.33. The stock has a market cap of $20.22 billion, a PE ratio of 23.84, a P/E/G ratio of 3.09 and a beta of 0.30. Avangrid, Inc. has a one year low of $44.02 and a one year high of $55.57.

Avangrid (NYSE:AGR) last posted its quarterly earnings results on Monday, October 25th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.05. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. Avangrid had a net margin of 10.57% and a return on equity of 4.47%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 earnings per share. On average, research analysts expect that Avangrid, Inc. will post 2.14 earnings per share for the current year.

A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Avangrid from a “sell” rating to a “hold” rating in a report on Monday, August 2nd. Mizuho boosted their price objective on Avangrid from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday, August 24th. Finally, TheStreet downgraded Avangrid from a “b” rating to a “c+” rating in a research report on Friday, November 19th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $54.67.

Avangrid Profile

Avangrid, Inc engages in the energy transmission and gas distribution. It operates through the following segments: Networks, Renewables, and Other. The Networks segment includes energy transmission and distribution, electric transmission, and gas distribution activities. The Renewables segment relating to renewable energy, mainly wind energy generation and trading related with such activities.

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Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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