Raymond James Financial Services Advisors Inc. cut its holdings in shares of Avangrid Inc (NYSE:AGR) by 13.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,274 shares of the utilities provider’s stock after selling 2,571 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Avangrid were worth $874,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its position in shares of Avangrid by 0.9% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 116,400 shares of the utilities provider’s stock valued at $5,520,000 after purchasing an additional 1,020 shares during the last quarter. Harrington Investments INC grew its stake in shares of Avangrid by 30.4% during the 4th quarter. Harrington Investments INC now owns 6,202 shares of the utilities provider’s stock worth $314,000 after acquiring an additional 1,445 shares during the period. Signature Estate & Investment Advisors LLC grew its stake in shares of Avangrid by 11.6% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 14,103 shares of the utilities provider’s stock worth $713,000 after acquiring an additional 1,469 shares during the period. AMP Capital Investors Ltd grew its stake in shares of Avangrid by 5.2% during the 3rd quarter. AMP Capital Investors Ltd now owns 30,435 shares of the utilities provider’s stock worth $1,443,000 after acquiring an additional 1,500 shares during the period. Finally, US Bancorp DE grew its stake in shares of Avangrid by 57.4% during the 4th quarter. US Bancorp DE now owns 5,440 shares of the utilities provider’s stock worth $275,000 after acquiring an additional 1,984 shares during the period. 14.29% of the stock is owned by hedge funds and other institutional investors.
Avangrid Inc (NYSE AGR) opened at $48.78 on Tuesday. Avangrid Inc has a 12 month low of $41.86 and a 12 month high of $53.46. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $14,884.79, a PE ratio of 39.66, a price-to-earnings-growth ratio of 2.21 and a beta of 0.32.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 9th will be paid a $0.432 dividend. The ex-dividend date is Thursday, March 8th. This represents a $1.73 annualized dividend and a yield of 3.54%. Avangrid’s dividend payout ratio is currently 140.65%.
Several research analysts have recently weighed in on AGR shares. Gabelli reiterated a “buy” rating on shares of Avangrid in a research note on Wednesday, February 21st. Goldman Sachs Group started coverage on Avangrid in a research note on Wednesday, January 10th. They set a “buy” rating for the company. Zacks Investment Research downgraded Avangrid from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. TheStreet upgraded Avangrid from a “c” rating to a “b-” rating in a research note on Monday, December 18th. Finally, Bank of America reiterated a “buy” rating and set a $53.00 price target (up previously from $52.00) on shares of Avangrid in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $50.50.
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Avangrid Company Profile
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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