Citizens Financial Group Inc RI decreased its holdings in shares of Avangrid Inc (NYSE:AGR) by 16.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,511 shares of the utilities provider’s stock after selling 290 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Avangrid were worth $67,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Sunbelt Securities Inc. acquired a new stake in Avangrid during the 4th quarter valued at $5,986,000. Procyon Private Wealth Partners LLC bought a new position in Avangrid during the 4th quarter worth $32,000. ERTS Wealth Advisors LLC bought a new position in Avangrid during the 4th quarter worth $34,000. Capital Bank & Trust Co bought a new position in Avangrid during the 4th quarter worth $35,000. Finally, Synovus Financial Corp bought a new position in Avangrid during the 1st quarter worth $35,000. 14.72% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on AGR. Seaport Global Securities began coverage on Avangrid in a research report on Wednesday. They set a “neutral” rating on the stock. TheStreet cut Avangrid from a “b+” rating to a “c+” rating in a research report on Monday, February 3rd. Bank of America upgraded Avangrid from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $43.00 to $47.00 in a research report on Thursday, April 30th. Janney Montgomery Scott upgraded Avangrid from a “sell” rating to a “neutral” rating and set a $46.00 price objective on the stock in a research report on Friday, March 13th. Finally, Zacks Investment Research upgraded Avangrid from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Avangrid presently has a consensus rating of “Hold” and an average target price of $48.17.
Shares of NYSE AGR opened at $40.96 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.49 and a current ratio of 0.55. Avangrid Inc has a 52 week low of $35.62 and a 52 week high of $57.24. The stock has a market capitalization of $12.45 billion, a P/E ratio of 18.06, a PEG ratio of 3.29 and a beta of 0.28. The stock’s fifty day moving average is $42.88 and its 200 day moving average is $48.24.
Avangrid (NYSE:AGR) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.76 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.76. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Avangrid had a return on equity of 4.41% and a net margin of 11.50%. Avangrid’s revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.71 earnings per share. Equities research analysts forecast that Avangrid Inc will post 2.22 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Tuesday, June 2nd will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.30%. The ex-dividend date is Monday, June 1st. Avangrid’s dividend payout ratio (DPR) is presently 81.11%.
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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