Wetherby Asset Management Inc. Makes New Investment in Avangrid Inc (NYSE:AGR)

Wetherby Asset Management Inc. bought a new position in shares of Avangrid Inc (NYSE:AGR) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,136 shares of the utilities provider’s stock, valued at approximately $216,000.

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Other institutional investors and hedge funds have also made changes to their positions in the company. Private Capital Group LLC boosted its position in shares of Avangrid by 214.8% during the 2nd quarter. Private Capital Group LLC now owns 1,423 shares of the utilities provider’s stock valued at $76,000 after acquiring an additional 971 shares during the last quarter. Hennessy Advisors Inc. boosted its position in shares of Avangrid by 973.8% during the 2nd quarter. Hennessy Advisors Inc. now owns 184,700 shares of the utilities provider’s stock valued at $9,327,000 after acquiring an additional 167,500 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Avangrid during the 2nd quarter valued at about $7,225,000. Charles Schwab Investment Management Inc. boosted its position in shares of Avangrid by 2.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 241,808 shares of the utilities provider’s stock valued at $12,212,000 after acquiring an additional 5,003 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Avangrid by 4.2% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 130,974 shares of the utilities provider’s stock valued at $6,614,000 after acquiring an additional 5,264 shares during the last quarter. 13.84% of the stock is currently owned by institutional investors.

AGR traded down $0.36 on Friday, hitting $48.38. The company had a trading volume of 331,768 shares, compared to its average volume of 444,358. The company has a current ratio of 0.66, a quick ratio of 0.56 and a debt-to-equity ratio of 0.44. The firm has a market cap of $15.28 billion, a P/E ratio of 21.89, a PEG ratio of 2.97 and a beta of 0.12. The company’s fifty day moving average price is $50.60 and its 200 day moving average price is $50.44. Avangrid Inc has a 1 year low of $47.45 and a 1 year high of $53.47.

Avangrid (NYSE:AGR) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.11). The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Avangrid had a return on equity of 3.98% and a net margin of 9.32%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the company earned $0.45 earnings per share. On average, analysts predict that Avangrid Inc will post 2.25 earnings per share for the current year.

Several research analysts have recently weighed in on the stock. Peel Hunt reissued a “hold” rating on shares of Avangrid in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price target on shares of Avangrid from $47.00 to $50.00 and gave the company an “underweight” rating in a research report on Monday, October 14th. Zacks Investment Research raised shares of Avangrid from a “sell” rating to a “hold” rating in a research report on Thursday. Goldman Sachs Group set a $50.00 price target on shares of Avangrid and gave the company a “hold” rating in a research report on Monday, August 12th. Finally, Citigroup cut shares of Avangrid from a “buy” rating to a “neutral” rating and lowered their price target for the company from $62.00 to $52.00 in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Avangrid presently has a consensus rating of “Hold” and a consensus price target of $51.14.

Avangrid Company 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.

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Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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