Avangrid, Inc. (NYSE:AGR) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its position in Avangrid, Inc. (NYSE:AGR - Free Report) by 58.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,919 shares of the utilities provider's stock after selling 93,065 shares during the period. Assenagon Asset Management S.A.'s holdings in Avangrid were worth $2,366,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. IFM Investors Pty Ltd acquired a new position in Avangrid during the 1st quarter valued at about $362,000. Maryland State Retirement & Pension System acquired a new position in Avangrid during the 1st quarter valued at about $201,000. Everett Harris & Co. CA acquired a new position in Avangrid during the 1st quarter valued at about $401,000. FCG Investment Co acquired a new position in Avangrid during the 1st quarter valued at about $343,000. Finally, Janiczek Wealth Management LLC increased its stake in Avangrid by 68.6% during the 1st quarter. Janiczek Wealth Management LLC now owns 13,942 shares of the utilities provider's stock valued at $509,000 after buying an additional 5,674 shares during the period. Institutional investors and hedge funds own 13.12% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on AGR. Janney Montgomery Scott reissued a "sell" rating and set a $35.00 target price on shares of Avangrid in a research note on Friday, March 8th. StockNews.com raised shares of Avangrid from a "sell" rating to a "hold" rating in a research note on Friday, February 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Avangrid from $34.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $34.75.

Avangrid Price Performance

Shares of AGR traded down $0.07 during mid-day trading on Tuesday, hitting $35.98. The company's stock had a trading volume of 1,091,029 shares, compared to its average volume of 928,850. Avangrid, Inc. has a fifty-two week low of $27.46 and a fifty-two week high of $39.14. The firm has a 50-day moving average price of $36.28 and a 200 day moving average price of $33.38. The stock has a market capitalization of $13.92 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 2.68 and a beta of 0.55. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.50.

Avangrid (NYSE:AGR - Get Free Report) last announced its earnings results on Wednesday, April 24th. The utilities provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The company had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.54 billion. During the same period last year, the company posted $0.64 earnings per share. The business's revenue for the quarter was down 2.0% on a year-over-year basis. On average, research analysts predict that Avangrid, Inc. will post 2.23 EPS for the current fiscal year.

Avangrid Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Monday, June 3rd. Avangrid's payout ratio is 76.19%.

About Avangrid

Avangrid, Inc, an energy services holding company, engages in the regulated energy transmission and distribution, and renewable energy generation businesses in the United States. The company operates through Networks and Renewables segments. It is involved in the generation, transmission, and distribution of electricity; and distribution, transportation, and sale of natural gas.

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