Mackenzie Financial Corp Increases Stake in Avangrid, Inc. (NYSE:AGR)

Mackenzie Financial Corp lifted its position in Avangrid, Inc. (NYSE:AGR - Free Report) by 20.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,917,324 shares of the utilities provider's stock after purchasing an additional 326,084 shares during the period. Mackenzie Financial Corp owned about 0.50% of Avangrid worth $62,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new position in Avangrid during the third quarter worth $25,000. MetLife Investment Management LLC acquired a new position in Avangrid during the first quarter worth $53,000. Global Retirement Partners LLC raised its position in Avangrid by 41.7% during the third quarter. Global Retirement Partners LLC now owns 1,230 shares of the utilities provider's stock worth $36,000 after acquiring an additional 362 shares during the period. Lindbrook Capital LLC raised its position in Avangrid by 132.5% during the third quarter. Lindbrook Capital LLC now owns 1,258 shares of the utilities provider's stock worth $38,000 after acquiring an additional 717 shares during the period. Finally, BKM Wealth Management LLC acquired a new position in Avangrid during the fourth quarter worth $41,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Avangrid Trading Up 0.9 %

Shares of AGR traded up $0.33 during mid-day trading on Wednesday, reaching $36.04. The stock had a trading volume of 903,235 shares, compared to its average volume of 927,034. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.65 and a quick ratio of 0.56. Avangrid, Inc. has a 52-week low of $27.46 and a 52-week high of $41.22. The business's fifty day moving average is $34.05 and its 200 day moving average is $32.30. The firm has a market cap of $13.94 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 2.66 and a beta of 0.56.

Avangrid (NYSE:AGR - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.03. Avangrid had a net margin of 9.46% and a return on equity of 3.92%. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Avangrid's quarterly revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts predict that Avangrid, Inc. will post 2.25 EPS for the current fiscal year.

Avangrid Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Friday, May 31st. Avangrid's dividend payout ratio is currently 86.70%.

Wall Street Analyst Weigh In

AGR has been the subject of a number of recent research reports. Janney Montgomery Scott reiterated a "sell" rating and issued a $35.00 target price on shares of Avangrid in a research report on Friday, March 8th. Wells Fargo & Company increased their target price on shares of Avangrid from $34.00 to $35.00 and gave the company an "equal weight" rating in a research report on Friday, February 23rd. Mizuho increased their target price on shares of Avangrid from $33.00 to $34.00 and gave the company a "neutral" rating in a research report on Wednesday, January 3rd. Finally, StockNews.com upgraded shares of Avangrid from a "sell" rating to a "hold" rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat, Avangrid has a consensus rating of "Hold" and a consensus price target of $34.75.

About Avangrid

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.