Franklin Resources Inc. Purchases 603 Shares of Avangrid, Inc. (NYSE:AGR)

Franklin Resources Inc. grew its position in Avangrid, Inc. (NYSE:AGR) by 9.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,194 shares of the utilities provider’s stock after buying an additional 603 shares during the period. Franklin Resources Inc.’s holdings in Avangrid were worth $257,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Avangrid by 28.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 884,742 shares of the utilities provider’s stock valued at $31,665,000 after acquiring an additional 197,841 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Avangrid by 973.5% during the second quarter. Marshall Wace LLP now owns 150,602 shares of the utilities provider’s stock worth $5,351,000 after buying an additional 136,573 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Avangrid by 466.5% during the second quarter. Renaissance Technologies LLC now owns 135,400 shares of the utilities provider’s stock worth $4,811,000 after buying an additional 111,500 shares in the last quarter. BNP Paribas Financial Markets raised its position in Avangrid by 353.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 110,163 shares of the utilities provider’s stock valued at $3,943,000 after buying an additional 85,847 shares during the last quarter. Finally, Cowen AND Company LLC bought a new stake in Avangrid in the 2nd quarter valued at approximately $2,842,000. Institutional investors own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Avangrid in a research note on Wednesday. They set a “hold” rating for the company.

Avangrid Price Performance

Avangrid stock opened at $36.02 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.51 and a quick ratio of 0.44. The company’s 50-day moving average is $35.83 and its 200-day moving average is $35.71. The firm has a market capitalization of $13.94 billion, a PE ratio of 12.38, a P/E/G ratio of 2.54 and a beta of 0.56. Avangrid, Inc. has a fifty-two week low of $29.71 and a fifty-two week high of $37.70.

Avangrid (NYSE:AGR) last released its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.22. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.04 billion. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 earnings per share. Sell-side analysts anticipate that Avangrid, Inc. will post 2.34 earnings per share for the current year.

Avangrid Profile

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.