Everett Harris & Co. CA Acquires New Holdings in Avangrid, Inc. (NYSE:AGR)

Everett Harris & Co. CA bought a new position in Avangrid, Inc. (NYSE:AGR) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 11,000 shares of the utilities provider’s stock, valued at approximately $401,000.

Other hedge funds also recently bought and sold shares of the company. Clean Energy Transition LLP bought a new stake in shares of Avangrid in the 4th quarter valued at $75,620,000. Norges Bank bought a new stake in shares of Avangrid in the fourth quarter worth about $30,303,000. Mackenzie Financial Corp raised its position 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 worth $62,140,000 after purchasing an additional 326,084 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Avangrid by 65.1% during the 4th quarter. Hsbc Holdings PLC now owns 373,093 shares of the utilities provider’s stock valued at $12,088,000 after purchasing an additional 147,108 shares in the last quarter. Finally, Handelsbanken Fonder AB acquired a new position in shares of Avangrid in the 4th quarter valued at approximately $4,195,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Avangrid Trading Up 0.2 %

NYSE:AGR opened at $35.35 on Friday. The company has a market cap of $13.68 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 2.65 and a beta of 0.55. Avangrid, Inc. has a twelve month low of $27.46 and a twelve month high of $39.13. The business has a 50 day moving average price of $35.96 and a two-hundred day moving average price of $34.27. The company has a quick ratio of 0.50, a current ratio of 0.58 and a debt-to-equity ratio of 0.47.

Avangrid (NYSE:AGR) last announced its earnings results 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 during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis. As a group, 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 was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date was Monday, June 3rd. Avangrid’s dividend payout ratio is currently 76.19%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AGR. Janney Montgomery Scott reaffirmed a “sell” rating and issued a $35.00 price target on shares of Avangrid in a research note on Friday, March 8th. StockNews.com assumed coverage on shares of Avangrid in a research note on Monday. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, Avangrid currently has a consensus rating of “Hold” and a consensus target price of $34.67.

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.