Franklin Resources Inc. Has $257,000 Stake in Avangrid, Inc. (NYSE:AGR)

Franklin Resources Inc. boosted its stake in shares of Avangrid, Inc. (NYSE:AGR) by 9.1% during the third quarter, Holdings Channel.com reports. The fund owned 7,194 shares of the utilities provider’s stock after acquiring 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 reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group bought a new stake in shares of Avangrid during the 3rd quarter worth $25,000. Blue Trust Inc. boosted its stake in shares of Avangrid by 244.9% in the 3rd quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 573 shares in the last quarter. Eastern Bank bought a new stake in shares of Avangrid during the 3rd quarter valued at approximately $30,000. Quarry LP acquired a new position in Avangrid during the 3rd quarter worth approximately $47,000. Finally, Venturi Wealth Management LLC lifted its stake in Avangrid by 1,939.7% in the 3rd 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 last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Avangrid Price Performance

Shares of NYSE:AGR opened at $36.02 on Thursday. The firm has a market cap of $13.94 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56. Avangrid, Inc. has a 52 week low of $29.71 and a 52 week high of $37.70. The firm’s fifty day moving average is $35.83 and its 200-day moving average is $35.71. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.44 and a current ratio of 0.51.

Avangrid (NYSE:AGR) last issued its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (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 during the quarter, compared to the consensus estimate of $2.04 billion. During the same period last year, the company earned $0.27 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. Sell-side analysts predict 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.