Exane Asset Management increased its position in shares of Avangrid Inc (NYSE:AGR) by 50.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,071 shares of the utilities provider’s stock after purchasing an additional 7,052 shares during the quarter. Exane Asset Management’s holdings in Avangrid were worth $1,055,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of AGR. Jennison Associates LLC raised its holdings in Avangrid by 49.6% during the third quarter. Jennison Associates LLC now owns 1,223,203 shares of the utilities provider’s stock worth $58,628,000 after purchasing an additional 405,680 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Avangrid by 180.8% in the third quarter. AQR Capital Management LLC now owns 354,495 shares of the utilities provider’s stock worth $16,991,000 after acquiring an additional 228,244 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Avangrid by 99.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 424,664 shares of the utilities provider’s stock worth $21,271,000 after acquiring an additional 211,695 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings in shares of Avangrid by 4,696.1% in the third quarter. Rehmann Capital Advisory Group now owns 204,603 shares of the utilities provider’s stock worth $4,268,000 after acquiring an additional 200,337 shares during the last quarter. Finally, Westpac Banking Corp acquired a new position in shares of Avangrid in the third quarter worth $9,467,000. 14.17% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the company. Goldman Sachs Group cut Avangrid from a “buy” rating to a “neutral” rating and set a $50.00 price target for the company. in a report on Sunday, October 28th. Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating in a report on Monday, October 29th. TheStreet raised Avangrid from a “c+” rating to a “b” rating in a report on Wednesday, November 14th. Citigroup cut their price target on Avangrid from $59.00 to $57.00 and set a “buy” rating for the company in a report on Tuesday, December 4th. Finally, ValuEngine raised Avangrid from a “hold” rating to a “buy” rating in a report on Wednesday, December 5th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $53.78.
Avangrid stock opened at $50.51 on Monday. The firm has a market capitalization of $15.61 billion, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 2.36 and a beta of 0.09. Avangrid Inc has a 52 week low of $45.81 and a 52 week high of $54.55. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 0.33.
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Avangrid, Inc operates as an energy services holding company in the United States. It engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. The company 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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