Parallel Advisors LLC boosted its position in shares of Avangrid Inc (NYSE:AGR) by 7.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,065 shares of the utilities provider’s stock after purchasing an additional 343 shares during the quarter. Parallel Advisors LLC’s holdings in Avangrid were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC bought a new stake in Avangrid during the 3rd quarter valued at $25,000. Strategic Blueprint LLC bought a new stake in Avangrid during the 3rd quarter valued at $27,000. North Star Investment Management Corp. bought a new stake in Avangrid during the 3rd quarter valued at $35,000. Steward Partners Investment Advisory LLC bought a new stake in Avangrid during the 2nd quarter valued at $54,000. Finally, HM Payson & Co. bought a new stake in Avangrid during the 2nd quarter valued at $56,000. Institutional investors own 13.84% of the company’s stock.

Shares of Avangrid stock traded down $0.36 during trading on Friday, reaching $48.38. The company’s stock had a trading volume of 331,768 shares, compared to its average volume of 444,358. The company has a quick ratio of 0.56, a current ratio of 0.66 and a debt-to-equity ratio of 0.44. The company has a market cap of $15.28 billion, a price-to-earnings ratio of 21.89, a P/E/G ratio of 2.97 and a beta of 0.12. Avangrid Inc has a 1-year low of $47.45 and a 1-year high of $53.47. The company has a 50-day simple moving average of $50.60 and a two-hundred day simple moving average of $50.44.

Avangrid (NYSE:AGR) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.11). Avangrid had a return on equity of 3.98% and a net margin of 9.32%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the firm posted $0.45 EPS. The business’s revenue was down 3.8% compared to the same quarter last year. As a group, analysts anticipate that Avangrid Inc will post 2.25 earnings per share for the current year.

AGR has been the topic of several recent research reports. Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating in a research report on Thursday. Citigroup cut Avangrid from a “buy” rating to a “neutral” rating and dropped their target price for the company from $62.00 to $52.00 in a research report on Monday, August 12th. Goldman Sachs Group set a $50.00 target price on Avangrid and gave the company a “hold” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. increased their target price on Avangrid from $47.00 to $50.00 and gave the company an “underweight” rating in a research report on Monday, October 14th. Finally, Peel Hunt reaffirmed a “hold” rating on shares of Avangrid in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $51.14.

Avangrid Company Profile

Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.

See Also: How to Use a Moving Average for TradingĀ 

Want to see what other hedge funds are holding AGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avangrid Inc (NYSE:AGR).

Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

Receive News & Ratings for Avangrid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avangrid and related companies with MarketBeat.com's FREE daily email newsletter.