Daiwa SB Investments Ltd. raised its position in Avangrid Inc (NYSE:AGR) by 48.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,088 shares of the utilities provider’s stock after acquiring an additional 8,477 shares during the quarter. Daiwa SB Investments Ltd.’s holdings in Avangrid were worth $1,320,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Ffcm LLC purchased a new position in shares of Avangrid in the third quarter valued at about $134,000. McKinley Carter Wealth Services Inc. purchased a new position in shares of Avangrid during the third quarter valued at about $207,000. Joel Isaacson & Co. LLC purchased a new position in shares of Avangrid during the third quarter valued at about $212,000. Harrington Investments INC purchased a new position in shares of Avangrid during the third quarter valued at about $226,000. Finally, SG Americas Securities LLC purchased a new position in shares of Avangrid during the third quarter valued at about $257,000. Hedge funds and other institutional investors own 13.83% of the company’s stock.
AGR has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Avangrid from $43.00 to $47.00 and gave the company an “underweight” rating in a research report on Thursday, October 12th. Zacks Investment Research cut shares of Avangrid from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Bank of America initiated coverage on shares of Avangrid in a report on Tuesday, October 24th. They issued a “buy” rating and a $52.00 price objective on the stock. Wells Fargo & Co cut shares of Avangrid from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 1st. Finally, TheStreet upgraded shares of Avangrid from a “c” rating to a “b-” rating in a report on Monday, December 18th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $48.63.
Shares of Avangrid Inc (NYSE AGR) opened at $47.80 on Friday. The firm has a market cap of $14,962.04, a PE ratio of 22.23, a price-to-earnings-growth ratio of 2.44 and a beta of 0.56. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 0.31. Avangrid Inc has a fifty-two week low of $37.42 and a fifty-two week high of $53.46.
Avangrid (NYSE:AGR) last announced its quarterly earnings data on Tuesday, October 24th. The utilities provider reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Avangrid had a net margin of 11.23% and a return on equity of 4.60%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 earnings per share. equities analysts expect that Avangrid Inc will post 2.21 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th were paid a $0.432 dividend. The ex-dividend date was Friday, December 8th. This represents a $1.73 annualized dividend and a dividend yield of 3.62%. Avangrid’s dividend payout ratio is presently 80.47%.
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Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.
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