California Public Employees Retirement System boosted its holdings in shares of Avangrid Inc (NYSE:AGR) by 30.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 99,506 shares of the utilities provider’s stock after purchasing an additional 23,101 shares during the quarter. California Public Employees Retirement System’s holdings in Avangrid were worth $5,033,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Ffcm LLC bought a new stake in Avangrid during the 3rd quarter valued at approximately $134,000. State of Alaska Department of Revenue bought a new stake in Avangrid during the 4th quarter valued at approximately $166,000. SeaCrest Wealth Management LLC bought a new stake in Avangrid during the 4th quarter valued at approximately $216,000. Alps Advisors Inc. bought a new stake in Avangrid during the 4th quarter valued at approximately $246,000. Finally, SG Americas Securities LLC bought a new stake in Avangrid during the 3rd quarter valued at approximately $257,000. 14.29% of the stock is currently owned by institutional investors.
Several analysts recently issued reports on the company. Zacks Investment Research downgraded Avangrid from a “hold” rating to a “sell” rating in a research note on Tuesday, March 6th. Gabelli restated a “buy” rating on shares of Avangrid in a report on Wednesday, February 21st. Bank of America restated a “buy” rating and set a $53.00 price target (up previously from $52.00) on shares of Avangrid in a report on Thursday, February 22nd. Wells Fargo & Co restated a “market perform” rating and set a $51.00 price target (down previously from $54.00) on shares of Avangrid in a report on Wednesday, February 21st. Finally, Guggenheim set a $55.00 price target on Avangrid and gave the company a “buy” rating in a report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $50.50.
Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.61 earnings per share for the quarter, meeting the consensus estimate of $0.61. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Avangrid had a return on equity of 4.47% and a net margin of 6.39%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. equities research analysts expect that Avangrid Inc will post 2.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be issued a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Thursday, March 8th. Avangrid’s dividend payout ratio is presently 140.65%.
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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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