United Capital Financial Advisers LLC acquired a new stake in Avangrid Inc (NYSE:AGR) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,055 shares of the utilities provider’s stock, valued at approximately $310,000.
Several other institutional investors and hedge funds also recently modified their holdings of AGR. OppenheimerFunds Inc. raised its position in shares of Avangrid by 343.6% in the first quarter. OppenheimerFunds Inc. now owns 1,109,189 shares of the utilities provider’s stock valued at $56,702,000 after purchasing an additional 859,144 shares during the period. Allianz Asset Management GmbH raised its position in shares of Avangrid by 88.6% in the first quarter. Allianz Asset Management GmbH now owns 662,675 shares of the utilities provider’s stock valued at $33,876,000 after purchasing an additional 311,374 shares during the period. Electron Capital Partners LLC grew its stake in shares of Avangrid by 47.6% in the fourth quarter. Electron Capital Partners LLC now owns 681,513 shares of the utilities provider’s stock valued at $34,471,000 after acquiring an additional 219,904 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new position in shares of Avangrid in the fourth quarter valued at about $4,610,000. Finally, BlackRock Inc. grew its stake in shares of Avangrid by 3.4% in the fourth quarter. BlackRock Inc. now owns 2,108,792 shares of the utilities provider’s stock valued at $106,661,000 after acquiring an additional 69,806 shares in the last quarter. 14.19% of the stock is currently owned by institutional investors.
Several equities analysts recently commented on the stock. Bank of America upped their price target on shares of Avangrid from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, April 12th. Janney Montgomery Scott restated a “buy” rating and issued a $55.00 price target on shares of Avangrid in a research note on Wednesday, April 25th. Zacks Investment Research upgraded shares of Avangrid from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Wednesday. ValuEngine downgraded shares of Avangrid from a “buy” rating to a “hold” rating in a research note on Friday, June 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Avangrid from $44.00 to $46.00 and gave the company an “underweight” rating in a research note on Tuesday, April 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $52.94.
Shares of Avangrid opened at $52.93 on Friday, Marketbeat Ratings reports. The stock has a market cap of $16.25 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 2.42 and a beta of 0.17. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.66 and a current ratio of 0.73. Avangrid Inc has a 12-month low of $43.13 and a 12-month high of $54.55.
Avangrid (NYSE:AGR) last announced its quarterly earnings data on Monday, April 23rd. The utilities provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.73 billion. Avangrid had a return on equity of 4.59% and a net margin of 6.36%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.77 earnings per share. analysts predict that Avangrid Inc will post 2.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 8th will be paid a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $1.73 dividend on an annualized basis and a yield of 3.26%. Avangrid’s payout ratio is 78.64%.
Avangrid, Inc operates as an energy services holding company in the United States. It engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. As of December 31, 2017, the company delivered electricity to approximately 2.2 million electric utility customers, as well as natural gas to approximately 1 million natural gas public utility customers; and owned approximately 67.5 billion cubic feet of net working gas storage capacity.
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