JPMorgan Chase & Co. Boosts Stock Position in Avangrid, Inc. (NYSE:AGR)

JPMorgan Chase & Co. lifted its stake in Avangrid, Inc. (NYSE:AGR) by 11.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 653,201 shares of the utilities provider’s stock after purchasing an additional 64,720 shares during the quarter. JPMorgan Chase & Co. owned about 0.17% of Avangrid worth $23,378,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AGR. Brooklyn Investment Group acquired a new stake in shares of Avangrid during the 3rd quarter worth approximately $25,000. Blue Trust Inc. grew its position in Avangrid by 244.9% in the third quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 573 shares during the period. Eastern Bank acquired a new stake in Avangrid during the third quarter worth $30,000. Quarry LP acquired a new stake in Avangrid during the third quarter worth $47,000. Finally, Venturi Wealth Management LLC raised its position in Avangrid by 1,939.7% in the third quarter. Venturi Wealth Management LLC now owns 2,978 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 2,832 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Avangrid Stock Performance

Shares of AGR stock opened at $36.02 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.44 and a current ratio of 0.51. The firm has a market cap of $13.94 billion, a P/E ratio of 12.38, a P/E/G ratio of 2.54 and a beta of 0.56. The firm’s 50 day moving average price is $35.85 and its 200-day moving average price is $35.74. Avangrid, Inc. has a one year low of $29.71 and a one year high of $37.70.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Avangrid in a report on Thursday. They set a “hold” rating for the company.

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.