Global Assets Advisory LLC Buys New Holdings in Avangrid, Inc. (NYSE:AGR)

Global Assets Advisory LLC purchased a new position in Avangrid, Inc. (NYSE:AGR) during the first quarter, Holdings Channel reports. The fund purchased 42,251 shares of the utilities provider’s stock, valued at approximately $1,540,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AGR. Clean Energy Transition LLP bought a new stake in shares of Avangrid in the fourth quarter worth about $75,620,000. Norges Bank bought a new stake in shares of Avangrid in the 4th quarter worth approximately $30,303,000. Mackenzie Financial Corp increased its stake in shares of Avangrid by 20.5% during the fourth quarter. Mackenzie Financial Corp now owns 1,917,324 shares of the utilities provider’s stock valued at $62,140,000 after buying an additional 326,084 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Avangrid by 65.1% during the fourth quarter. Hsbc Holdings PLC now owns 373,093 shares of the utilities provider’s stock valued at $12,088,000 after acquiring an additional 147,108 shares in the last quarter. Finally, Handelsbanken Fonder AB purchased a new stake in Avangrid in the fourth quarter worth $4,195,000. Institutional investors own 13.12% of the company’s stock.

Avangrid Stock Performance

Shares of AGR stock opened at $35.26 on Thursday. The company’s fifty day moving average price is $36.14 and its 200-day moving average price is $34.17. The stock has a market cap of $13.64 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 2.65 and a beta of 0.55. The company has a current ratio of 0.58, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. Avangrid, Inc. has a 12 month low of $27.46 and a 12 month high of $39.13.

Avangrid (NYSE:AGR) last posted its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Avangrid’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities analysts expect that Avangrid, Inc. will post 2.22 EPS for the current fiscal year.

Avangrid Announces Dividend

The business also recently announced 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 4.99%. The ex-dividend date of this dividend is Monday, June 3rd. Avangrid’s dividend payout ratio (DPR) is 76.19%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Janney Montgomery Scott reissued a “sell” rating and set a $35.00 price objective on shares of Avangrid in a research report on Friday, March 8th. StockNews.com assumed coverage on shares of Avangrid in a research note on Sunday. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, Avangrid has an average rating of “Hold” and an average target price of $34.67.

Avangrid Company Profile

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.