Wellington Management Group LLP Raises Stock Holdings in Avangrid, Inc. (NYSE:AGR)

Wellington Management Group LLP raised its stake in Avangrid, Inc. (NYSE:AGR) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 141,128 shares of the utilities provider’s stock after buying an additional 9,766 shares during the quarter. Wellington Management Group LLP’s holdings in Avangrid were worth $4,574,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AGR. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Avangrid by 2,285.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 96,754 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 92,698 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Avangrid in the fourth quarter valued at $41,000. GAMMA Investing LLC acquired a new stake in shares of Avangrid in the fourth quarter valued at $60,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Avangrid in the 4th quarter valued at $204,000. Finally, Seven Mile Advisory purchased a new position in Avangrid during the 4th quarter valued at about $213,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Avangrid in a research note on Sunday, June 23rd. They set a “hold” rating on the stock. Janney Montgomery Scott reiterated a “sell” rating and set a $35.00 target price on shares of Avangrid in a report on Friday, March 8th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $34.67.

Avangrid Price Performance

AGR stock opened at $35.53 on Friday. The business’s 50-day moving average is $36.08 and its two-hundred day moving average is $34.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.50. The firm has a market capitalization of $13.75 billion, a P/E ratio of 15.38, a P/E/G ratio of 2.66 and a beta of 0.55. Avangrid, Inc. has a 1 year low of $27.46 and a 1 year high of $39.13.

Avangrid (NYSE:AGR) last issued its earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share for the quarter, beating 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 firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter last year, the company earned $0.64 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. Analysts anticipate that Avangrid, Inc. will post 2.22 earnings per share for the current fiscal year.

Avangrid Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend is Monday, June 3rd. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

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.