Mackenzie Financial Corp Raises Stake in Avangrid, Inc. (NYSE:AGR)

Mackenzie Financial Corp grew its stake in shares of Avangrid, Inc. (NYSE:AGR) by 20.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,917,324 shares of the utilities provider’s stock after purchasing an additional 326,084 shares during the quarter. Mackenzie Financial Corp owned approximately 0.50% of Avangrid worth $62,140,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AGR. Geneos Wealth Management Inc. bought a new stake in shares of Avangrid in the third quarter valued at about $25,000. MetLife Investment Management LLC bought a new position in Avangrid in the first quarter worth about $53,000. Global Retirement Partners LLC raised its holdings in Avangrid by 41.7% in the third quarter. Global Retirement Partners LLC now owns 1,230 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 362 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Avangrid by 132.5% in the third quarter. Lindbrook Capital LLC now owns 1,258 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 717 shares in the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in shares of Avangrid during the fourth quarter worth about $41,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Avangrid Trading Down 0.7 %

Avangrid stock opened at $35.69 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. Avangrid, Inc. has a 12 month low of $27.46 and a 12 month high of $41.22. The stock’s 50 day simple moving average is $33.94 and its two-hundred day simple moving average is $32.27. The firm has a market cap of $13.80 billion, a PE ratio of 17.58, a P/E/G ratio of 2.65 and a beta of 0.56.

Avangrid (NYSE:AGR) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.40 billion. Avangrid had a return on equity of 3.92% and a net margin of 9.46%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 EPS. Analysts anticipate that Avangrid, Inc. will post 2.25 earnings per share for the current year.

Avangrid Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend is Friday, May 31st. Avangrid’s dividend payout ratio is currently 86.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Janney Montgomery Scott restated a “sell” rating and set a $35.00 price target on shares of Avangrid in a research note on Friday, March 8th. Mizuho upped their target price on Avangrid from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, January 3rd. Wells Fargo & Company upped their target price on Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd. Finally, StockNews.com upgraded Avangrid from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $34.75.

Avangrid Profile

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.