Harrington Investments INC raised its stake in shares of Avangrid, Inc. (NYSE:AGR) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,245 shares of the utilities provider’s stock after buying an additional 530 shares during the period. Harrington Investments INC’s holdings in Avangrid were worth $511,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Ellevest Inc. increased its stake in shares of Avangrid by 9.6% in the third quarter. Ellevest Inc. now owns 2,702 shares of the utilities provider’s stock worth $136,000 after acquiring an additional 236 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Avangrid by 1.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 14,258 shares of the utilities provider’s stock worth $719,000 after purchasing an additional 259 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Avangrid by 4.5% in the 3rd quarter. Cetera Investment Advisers now owns 6,404 shares of the utilities provider’s stock valued at $323,000 after buying an additional 274 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Avangrid by 2.5% in the third quarter. CIBC Asset Management Inc now owns 11,837 shares of the utilities provider’s stock worth $597,000 after buying an additional 293 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in Avangrid by 73.9% during the second quarter. Toronto Dominion Bank now owns 868 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 369 shares in the last quarter. Institutional investors and hedge funds own 13.74% of the company’s stock.
Several brokerages have recently commented on AGR. Morgan Stanley restated an “equal weight” rating on shares of Avangrid in a research note on Wednesday, October 21st. Wells Fargo & Company increased their target price on shares of Avangrid from $58.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. They noted that the move was a valuation call. Bank of America cut Avangrid from a “neutral” rating to an “underperform” rating and set a $46.00 price target for the company. in a research report on Friday, September 25th. Finally, Zacks Investment Research lowered Avangrid from a “hold” rating to a “sell” rating in a report on Tuesday, October 20th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Avangrid presently has an average rating of “Hold” and an average target price of $51.00.
Avangrid (NYSE:AGR) last posted its quarterly earnings data on Tuesday, October 20th. The utilities provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.09). Avangrid had a return on equity of 4.20% and a net margin of 10.19%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm posted $0.40 EPS. Avangrid’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities research analysts anticipate that Avangrid, Inc. will post 1.98 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 4th. Stockholders of record on Friday, December 11th were given a $0.44 dividend. The ex-dividend date was Thursday, December 10th. This represents a $1.76 annualized dividend and a dividend yield of 3.84%. Avangrid’s dividend payout ratio is 81.11%.
Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.
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