IFM Investors Pty Ltd increased its position in Avangrid, Inc. (NYSE:AGR – Get Rating) by 11.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,421 shares of the utilities provider's stock after purchasing an additional 843 shares during the period. IFM Investors Pty Ltd's holdings in Avangrid were worth $388,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. My Legacy Advisors LLC lifted its position in Avangrid by 7.5% in the 2nd quarter. My Legacy Advisors LLC now owns 12,689 shares of the utilities provider's stock worth $580,000 after buying an additional 890 shares in the last quarter. TPG Financial Advisors LLC lifted its position in Avangrid by 12.4% in the 2nd quarter. TPG Financial Advisors LLC now owns 7,859 shares of the utilities provider's stock worth $362,000 after buying an additional 865 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Avangrid by 11.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 309,823 shares of the utilities provider's stock worth $14,481,000 after buying an additional 32,289 shares in the last quarter. M Holdings Securities Inc. purchased a new stake in Avangrid in the 1st quarter worth approximately $267,000. Finally, Magnolia Wealth Management LLC purchased a new stake in Avangrid in the 1st quarter worth approximately $1,061,000. Hedge funds and other institutional investors own 12.49% of the company's stock.
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Analysts Set New Price Targets
A number of research firms have issued reports on AGR. TheStreet upgraded shares of Avangrid from a "c+" rating to a "b" rating in a research report on Tuesday, August 9th. Mizuho raised their price target on shares of Avangrid from $42.00 to $47.00 and gave the company an "underperform" rating in a report on Monday, September 12th. Barclays cut their price target on shares of Avangrid from $51.00 to $48.00 and set an "equal weight" rating on the stock in a report on Monday, July 18th. KeyCorp raised their target price on shares of Avangrid from $40.00 to $41.00 and gave the company an "underweight" rating in a research note on Friday, September 23rd. Finally, StockNews.com lowered shares of Avangrid from a "buy" rating to a "hold" rating in a research note on Monday, September 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $49.00.
Avangrid Stock Performance
NYSE AGR opened at $43.68 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.89 and a quick ratio of 0.77. The company's fifty day moving average is $48.88 and its two-hundred day moving average is $47.11. Avangrid, Inc. has a 52-week low of $42.20 and a 52-week high of $53.95. The firm has a market capitalization of $16.89 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 3.35 and a beta of 0.34.
Avangrid (NYSE:AGR – Get Rating) last issued its earnings results on Tuesday, July 26th. The utilities provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.13. Avangrid had a net margin of 12.12% and a return on equity of 4.65%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the business earned $0.35 EPS. Equities research analysts forecast that Avangrid, Inc. will post 2.29 EPS for the current year.
Avangrid Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, September 1st. This represents a $1.76 annualized dividend and a dividend yield of 4.03%. Avangrid's dividend payout ratio (DPR) is currently 75.21%.
Avangrid Profile
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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.
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