Avangrid, Inc. (NYSE:AGR) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings 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 Securities & Exchange Commission. The institutional investor owned 653,201 shares of the utilities provider’s stock after acquiring an additional 64,720 shares during the period. JPMorgan Chase & Co.’s holdings in Avangrid were worth $23,378,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Avangrid by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,072,808 shares of the utilities provider’s stock worth $38,407,000 after acquiring an additional 16,960 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Avangrid by 28.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 884,742 shares of the utilities provider’s stock worth $31,665,000 after purchasing an additional 197,841 shares during the last quarter. Empower Advisory Group LLC grew its stake in shares of Avangrid by 0.5% during the third quarter. Empower Advisory Group LLC now owns 363,399 shares of the utilities provider’s stock worth $13,006,000 after purchasing an additional 1,983 shares in the last quarter. Millennium Management LLC increased its holdings in Avangrid by 34.7% in the second quarter. Millennium Management LLC now owns 308,134 shares of the utilities provider’s stock valued at $10,948,000 after buying an additional 79,463 shares during the last quarter. Finally, Gabelli Funds LLC increased its holdings in Avangrid by 26.1% in the second quarter. Gabelli Funds LLC now owns 297,474 shares of the utilities provider’s stock valued at $10,569,000 after buying an additional 61,574 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

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

Avangrid Price Performance

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

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

Avangrid Company 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.