Public Employees Retirement System of Ohio decreased its position in Avangrid Inc (NYSE:AGR) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,303 shares of the utilities provider’s stock after selling 1,415 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Avangrid were worth $1,286,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AGR. Point72 Hong Kong Ltd grew its position in shares of Avangrid by 275.6% in the second quarter. Point72 Hong Kong Ltd now owns 2,663 shares of the utilities provider’s stock valued at $141,000 after purchasing an additional 1,954 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Avangrid in the first quarter valued at approximately $180,000. Bank of Montreal Can grew its position in shares of Avangrid by 601.2% in the second quarter. Bank of Montreal Can now owns 3,436 shares of the utilities provider’s stock valued at $182,000 after purchasing an additional 2,946 shares during the last quarter. TLP Group LLC acquired a new position in shares of Avangrid in the first quarter valued at approximately $208,000. Finally, Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Avangrid in the second quarter valued at approximately $222,000. 13.67% of the stock is currently owned by institutional investors.

Shares of AGR stock opened at $46.18 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.73 and a quick ratio of 0.64. The company has a market capitalization of $14.81 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.29 and a beta of 0.06. Avangrid Inc has a 1 year low of $45.17 and a 1 year high of $54.55.

Avangrid (NYSE:AGR) last issued its quarterly earnings results on Tuesday, July 24th. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.07). The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.33 billion. Avangrid had a net margin of 6.07% and a return on equity of 4.47%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 earnings per share. As a group, analysts predict that Avangrid Inc will post 2.29 earnings per share for the current year.

Several equities analysts have recently commented on AGR shares. Zacks Investment Research downgraded Avangrid from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Bank of America cut their price target on Avangrid from $58.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, July 25th. ValuEngine cut Avangrid from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. TheStreet cut Avangrid from a “b” rating to a “c+” rating in a research note on Thursday, October 4th. Finally, Wells Fargo & Co boosted their price target on Avangrid from $54.00 to $55.00 and gave the company a “market perform” rating in a research note on Monday, September 17th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $54.38.

Avangrid Profile

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. As of December 31, 2017, the company delivered electricity to approximately 2.2 million electric utility customers, as well as natural gas to approximately 1 million natural gas public utility customers; and owned approximately 67.5 billion cubic feet of net working gas storage capacity.

Further Reading: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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