Friedberg Investment Management Cuts Holdings in Avangrid, Inc. (AGR)

Friedberg Investment Management reduced its position in Avangrid, Inc. (NYSE:AGR) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,880 shares of the utilities provider’s stock after selling 4,874 shares during the period. Avangrid comprises about 1.8% of Friedberg Investment Management’s holdings, making the stock its 21st largest position. Friedberg Investment Management’s holdings in Avangrid were worth $4,145,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AGR. US Bancorp DE boosted its stake in Avangrid by 106.3% during the 1st quarter. US Bancorp DE now owns 2,863 shares of the utilities provider’s stock valued at $122,000 after purchasing an additional 1,475 shares during the period. Proficio Capital Partners LLC boosted its stake in Avangrid by 102.2% during the 2nd quarter. Proficio Capital Partners LLC now owns 2,704 shares of the utilities provider’s stock valued at $124,000 after purchasing an additional 1,367 shares during the period. First Personal Financial Services lifted its position in shares of Avangrid by 3.4% in the 2nd quarter. First Personal Financial Services now owns 2,862 shares of the utilities provider’s stock worth $126,000 after acquiring an additional 94 shares during the period. Parallel Advisors LLC lifted its position in shares of Avangrid by 20.1% in the 2nd quarter. Parallel Advisors LLC now owns 3,265 shares of the utilities provider’s stock worth $148,000 after acquiring an additional 546 shares during the period. Finally, Stifel Financial Corp bought a new stake in shares of Avangrid in the 2nd quarter worth approximately $242,000. Institutional investors own 13.22% of the company’s stock.

Avangrid, Inc. (NYSE:AGR) traded down 0.08% on Tuesday, hitting $47.74. The stock had a trading volume of 78,835 shares. Avangrid, Inc. has a 12-month low of $35.42 and a 12-month high of $49.04. The company has a market capitalization of $14.75 billion, a PE ratio of 21.89 and a beta of 0.49. The company has a 50 day moving average of $47.73 and a 200 day moving average of $45.56.

Avangrid (NYSE:AGR) last announced its earnings results on Wednesday, July 19th. The utilities provider reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. Avangrid had a net margin of 11.25% and a return on equity of 4.52%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the company earned $0.33 earnings per share. The firm’s revenue was down 7.5% on a year-over-year basis. On average, equities analysts expect that Avangrid, Inc. will post $2.22 earnings per share for the current year.

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AGR has been the subject of a number of recent analyst reports. Evercore ISI raised Avangrid from an “in-line” rating to an “outperform” rating and raised their price target for the company from $43.50 to $46.50 in a report on Monday, July 24th. Zacks Investment Research cut Avangrid from a “hold” rating to a “sell” rating in a report on Friday. Finally, J P Morgan Chase & Co lifted their target price on Avangrid from $43.00 to $47.00 and gave the company an “underweight” rating in a research note on Thursday, October 12th. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $46.38.

Avangrid Profile

Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.

Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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