Alaska Permanent Fund Corp cut its stake in Avangrid, Inc. (NYSE:AGR - Free Report) by 80.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,002 shares of the utilities provider's stock after selling 32,787 shares during the period. Alaska Permanent Fund Corp's holdings in Avangrid were worth $259,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Citigroup Inc. boosted its stake in Avangrid by 3.5% in the 3rd quarter. Citigroup Inc. now owns 9,791 shares of the utilities provider's stock worth $295,000 after purchasing an additional 334 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Avangrid by 41.7% during the 3rd quarter. Global Retirement Partners LLC now owns 1,230 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 362 shares during the period. First Pacific Financial lifted its stake in Avangrid by 3.1% during the 4th quarter. First Pacific Financial now owns 13,504 shares of the utilities provider's stock valued at $438,000 after acquiring an additional 406 shares during the period. Magellan Asset Management Ltd lifted its stake in Avangrid by 0.3% during the 3rd quarter. Magellan Asset Management Ltd now owns 162,607 shares of the utilities provider's stock valued at $4,906,000 after acquiring an additional 559 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its stake in Avangrid by 0.8% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 70,196 shares of the utilities provider's stock valued at $2,264,000 after acquiring an additional 577 shares during the period. 13.12% of the stock is currently owned by institutional investors and hedge funds.
Avangrid Price Performance
AGR traded down $0.17 during trading on Friday, hitting $36.38. The company's stock had a trading volume of 571,104 shares, compared to its average volume of 745,989. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.47. Avangrid, Inc. has a twelve month low of $27.46 and a twelve month high of $41.22. The business's fifty day simple moving average is $34.89 and its 200 day simple moving average is $32.66. The firm has a market capitalization of $14.08 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 2.73 and a beta of 0.56.
Avangrid (NYSE:AGR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period last year, the company earned $0.64 earnings per share. Avangrid's quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Avangrid, Inc. will post 2.23 EPS for the current fiscal year.
Avangrid Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.84%. The ex-dividend date is Friday, May 31st. Avangrid's payout ratio is currently 76.19%.
Analysts Set New Price Targets
Several analysts have commented on AGR shares. Janney Montgomery Scott restated a "sell" rating and set a $35.00 price objective on shares of Avangrid in a research note on Friday, March 8th. Mizuho lifted their price objective on shares of Avangrid from $33.00 to $34.00 and gave the company a "neutral" rating in a research note on Wednesday, January 3rd. Wells Fargo & Company lifted their target price on shares of Avangrid from $34.00 to $35.00 and gave the company an "equal weight" rating in a report on Friday, February 23rd. Finally, StockNews.com raised shares of Avangrid from a "sell" rating to a "hold" rating in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $34.75.
Read Our Latest Stock Report on Avangrid
Avangrid Profile
(
Free Report)
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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