Park Avenue Securities LLC grew its position in shares of Avangrid Inc (NYSE:AGR) by 15.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,386 shares of the utilities provider’s stock after purchasing an additional 2,600 shares during the period. Park Avenue Securities LLC’s holdings in Avangrid were worth $971,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. FMR LLC lifted its stake in Avangrid by 76.7% in the fourth quarter. FMR LLC now owns 1,868,081 shares of the utilities provider’s stock worth $93,572,000 after purchasing an additional 810,834 shares during the last quarter. Norges Bank bought a new stake in shares of Avangrid during the fourth quarter valued at approximately $36,303,000. Pzena Investment Management LLC raised its stake in shares of Avangrid by 21.1% during the fourth quarter. Pzena Investment Management LLC now owns 2,141,782 shares of the utilities provider’s stock valued at $107,282,000 after acquiring an additional 372,696 shares in the last quarter. Millennium Management LLC raised its stake in shares of Avangrid by 123.3% during the fourth quarter. Millennium Management LLC now owns 383,625 shares of the utilities provider’s stock valued at $19,216,000 after acquiring an additional 211,806 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Avangrid by 99.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 424,664 shares of the utilities provider’s stock valued at $21,271,000 after acquiring an additional 211,695 shares in the last quarter. Hedge funds and other institutional investors own 14.42% of the company’s stock.
Several brokerages recently issued reports on AGR. Bank of America lowered shares of Avangrid from a “buy” rating to a “neutral” rating and cut their price objective for the company from $54.00 to $53.00 in a report on Wednesday, February 20th. Goldman Sachs Group raised shares of Avangrid from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $46.00 to $47.00 in a report on Monday, April 8th. ValuEngine lowered shares of Avangrid from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Zacks Investment Research raised shares of Avangrid from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, Macquarie lowered shares of Avangrid from an “outperform” rating to a “neutral” rating and set a $49.50 price target on the stock. in a report on Monday, March 4th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Avangrid currently has a consensus rating of “Hold” and a consensus price target of $52.25.
NYSE AGR traded down $0.78 on Wednesday, reaching $49.80. 470,954 shares of the company’s stock traded hands, compared to its average volume of 464,350. The company has a market capitalization of $15.71 billion, a PE ratio of 22.53, a P/E/G ratio of 2.84 and a beta of 0.08. Avangrid Inc has a fifty-two week low of $45.81 and a fifty-two week high of $54.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.63 and a quick ratio of 0.57.
Avangrid (NYSE:AGR) last issued its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.84 billion. Avangrid had a return on equity of 4.27% and a net margin of 8.80%. The company’s revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the company posted $0.78 EPS. Research analysts expect that Avangrid Inc will post 2.26 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a $0.44 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.53%. Avangrid’s dividend payout ratio (DPR) is currently 79.64%.
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.
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