Whitehelm Capital Pty Ltd boosted its holdings in shares of Avangrid Inc (NYSE:AGR) by 13.3% during the 1st quarter, Holdings Channel reports. The firm owned 150,473 shares of the utilities provider’s stock after purchasing an additional 17,722 shares during the period. Avangrid accounts for approximately 7.4% of Whitehelm Capital Pty Ltd’s investment portfolio, making the stock its 3rd biggest holding. Whitehelm Capital Pty Ltd’s holdings in Avangrid were worth $7,576,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. First Hawaiian Bank lifted its stake in shares of Avangrid by 355.8% in the fourth quarter. First Hawaiian Bank now owns 588 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 459 shares during the period. Essex Savings Bank bought a new stake in shares of Avangrid in the fourth quarter valued at approximately $30,000. ERTS Wealth Advisors LLC bought a new stake in shares of Avangrid in the fourth quarter valued at approximately $34,000. Bremer Trust National Association bought a new stake in shares of Avangrid in the fourth quarter valued at approximately $49,000. Finally, Advisory Services Network LLC boosted its position in shares of Avangrid by 18.2% in the fourth quarter. Advisory Services Network LLC now owns 1,506 shares of the utilities provider’s stock valued at $75,000 after acquiring an additional 232 shares during the period. 14.77% of the stock is currently owned by institutional investors.
Shares of NYSE:AGR traded up $0.30 during trading on Monday, hitting $51.78. 176,300 shares of the company were exchanged, compared to its average volume of 327,144. The firm has a market capitalization of $15.91 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 2.83 and a beta of 0.08. Avangrid Inc has a fifty-two week low of $45.81 and a fifty-two week high of $54.55. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 0.35.
Avangrid (NYSE:AGR) last posted its quarterly earnings results on Tuesday, February 19th. The utilities provider reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.06). The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.32 billion. Avangrid had a return on equity of 4.43% and a net margin of 9.18%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. As a group, analysts anticipate that Avangrid Inc will post 2.3 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Thursday, June 6th. Avangrid’s payout ratio is presently 79.64%.
Several equities research analysts have recently weighed in on the company. Janney Montgomery Scott cut Avangrid from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 20th. Bank of America cut Avangrid from a “buy” rating to a “neutral” rating and cut their price objective for the company from $54.00 to $53.00 in a report on Wednesday, February 20th. ValuEngine cut Avangrid from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Goldman Sachs Group upgraded Avangrid from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $46.00 to $47.00 in a report on Monday, April 8th. Finally, Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $53.44.
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Avangrid Company Profile
Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.
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