Alaska Permanent Fund Corp Cuts Stock Position in Avangrid, Inc. (NYSE:AGR)

Alaska Permanent Fund Corp cut its position in shares of Avangrid, Inc. (NYSE:AGR) by 80.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,002 shares of the utilities provider’s stock after selling 32,787 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Avangrid were worth $259,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AGR. CWM LLC lifted its holdings in shares of Avangrid by 60.0% in the 3rd quarter. CWM LLC now owns 4,765 shares of the utilities provider’s stock worth $144,000 after acquiring an additional 1,787 shares during the last quarter. IFP Advisors Inc boosted its position in Avangrid by 16.0% during the third quarter. IFP Advisors Inc now owns 6,230 shares of the utilities provider’s stock valued at $188,000 after buying an additional 857 shares during the period. Global Retirement Partners LLC grew its stake in shares of Avangrid by 41.7% during the third quarter. Global Retirement Partners LLC now owns 1,230 shares of the utilities provider’s stock valued at $36,000 after buying an additional 362 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Avangrid by 37.1% during the third quarter. SG Americas Securities LLC now owns 3,639 shares of the utilities provider’s stock valued at $110,000 after buying an additional 985 shares during the last quarter. Finally, Oak Thistle LLC purchased a new position in shares of Avangrid in the third quarter worth about $414,000. 13.12% of the stock is owned by hedge funds and other institutional investors.

Avangrid Stock Performance

Avangrid stock opened at $36.39 on Friday. Avangrid, Inc. has a fifty-two week low of $27.46 and a fifty-two week high of $41.22. The stock’s 50 day simple moving average is $34.89 and its two-hundred day simple moving average is $32.65. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 0.65. The stock has a market cap of $14.07 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 2.77 and a beta of 0.56.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.54 billion. Avangrid had a return on equity of 4.37% and a net margin of 10.80%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. As a group, analysts expect that Avangrid, Inc. will post 2.23 earnings per share for the current fiscal year.

Avangrid Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date is Friday, May 31st. Avangrid’s dividend payout ratio is presently 76.19%.

Wall Street Analyst Weigh In

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

About Avangrid

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.