Barings LLC purchased a new position in Avangrid, Inc. (NYSE:AGR) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 9,900 shares of the utilities provider’s stock, valued at approximately $469,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC boosted its holdings in Avangrid by 102.2% in the 2nd quarter. Proficio Capital Partners LLC now owns 2,704 shares of the utilities provider’s stock worth $124,000 after acquiring an additional 1,367 shares during the period. Ffcm LLC purchased a new position in Avangrid in the 3rd quarter worth approximately $134,000. First Personal Financial Services boosted its holdings in Avangrid by 3.4% in the 2nd quarter. First Personal Financial Services now owns 2,862 shares of the utilities provider’s stock worth $126,000 after acquiring an additional 94 shares during the period. Parallel Advisors LLC boosted its holdings in Avangrid by 20.1% in the 2nd quarter. Parallel Advisors LLC now owns 3,265 shares of the utilities provider’s stock worth $148,000 after acquiring an additional 546 shares during the period. Finally, McKinley Carter Wealth Services Inc. purchased a new position in Avangrid in the 3rd quarter worth approximately $207,000. Hedge funds and other institutional investors own 13.83% of the company’s stock.
A number of equities analysts have weighed in on the company. J P Morgan Chase & Co upped their price target on Avangrid from $43.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, October 12th. Bank of America began coverage on Avangrid in a report on Tuesday, October 24th. They issued a “buy” rating and a $52.00 price target for the company. Zacks Investment Research raised Avangrid from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, Wells Fargo & Company lowered Avangrid from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Avangrid has a consensus rating of “Hold” and a consensus price target of $47.50.
Avangrid (NYSE:AGR) last announced its earnings results on Tuesday, October 24th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.03. Avangrid had a return on equity of 4.60% and a net margin of 11.23%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company posted $0.35 EPS. Avangrid’s quarterly revenue was down 5.4% on a year-over-year basis. equities research analysts anticipate that Avangrid, Inc. will post 2.21 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be given a $0.432 dividend. This represents a $1.73 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Friday, December 8th. Avangrid’s payout ratio is 80.47%.
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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