Avangrid, Inc. (NYSE:AGR) Shares Bought by Inspire Investing LLC

Inspire Investing LLC grew its position in shares of Avangrid, Inc. (NYSE:AGR) by 5.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 53,227 shares of the utilities provider’s stock after purchasing an additional 2,684 shares during the quarter. Inspire Investing LLC’s holdings in Avangrid were worth $1,940,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Central Pacific Bank Trust Division acquired a new stake in shares of Avangrid in the first quarter worth $36,000. BKM Wealth Management LLC acquired a new stake in shares of Avangrid in the fourth quarter worth $41,000. Quent Capital LLC boosted its position in Avangrid by 31.0% during the first quarter. Quent Capital LLC now owns 1,486 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 352 shares during the last quarter. GAMMA Investing LLC acquired a new stake in Avangrid during the fourth quarter valued at $60,000. Finally, Lindbrook Capital LLC boosted its position in Avangrid by 37.1% during the first quarter. Lindbrook Capital LLC now owns 2,150 shares of the utilities provider’s stock valued at $78,000 after purchasing an additional 582 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Avangrid in a research report on Tuesday, July 9th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $34.67.

Avangrid Stock Performance

AGR traded up $0.06 on Tuesday, hitting $35.47. 192,401 shares of the stock traded hands, compared to its average volume of 872,202. Avangrid, Inc. has a 52 week low of $27.46 and a 52 week high of $39.13. The company has a current ratio of 0.58, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $13.72 billion, a PE ratio of 15.35, a P/E/G ratio of 2.67 and a beta of 0.55. The business has a fifty day moving average price of $35.79 and a two-hundred day moving average price of $34.44.

Avangrid (NYSE:AGR) last issued its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.18. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.54 billion. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 earnings per share. On average, research analysts predict that Avangrid, Inc. will post 2.22 EPS for the current fiscal year.

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.