Alphasimplex Group LLC acquired a new stake in Avangrid Inc (NYSE:AGR) in the first quarter, HoldingsChannel reports. The firm acquired 12,771 shares of the utilities provider’s stock, valued at approximately $643,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of AGR. FNY Investment Advisers LLC acquired a new stake in Avangrid in the first quarter valued at $25,000. ERTS Wealth Advisors LLC acquired a new stake in Avangrid in the fourth quarter valued at $34,000. Bremer Trust National Association acquired a new stake in Avangrid in the fourth quarter valued at $49,000. Bremer Bank National Association acquired a new stake in Avangrid in the first quarter valued at $54,000. Finally, Next Capital Management LLC acquired a new stake in Avangrid in the first quarter valued at $63,000. Institutional investors and hedge funds own 14.41% of the company’s stock.
Shares of AGR opened at $50.73 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 0.36. The firm has a market cap of $15.84 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 2.87 and a beta of 0.12. Avangrid Inc has a 12 month low of $45.81 and a 12 month high of $54.18.
Avangrid (NYSE:AGR) last issued its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.09). The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.84 billion. Avangrid had a net margin of 8.80% and a return on equity of 4.27%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company posted $0.78 EPS. As a group, sell-side analysts predict that Avangrid Inc will post 2.27 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, June 6th. This represents a $1.76 dividend on an annualized basis and a yield of 3.47%. Avangrid’s dividend payout ratio (DPR) is currently 79.64%.
AGR has been the topic of a number of research analyst reports. ValuEngine raised shares of Avangrid from a “hold” rating to a “buy” rating in a research report on Friday, June 7th. Zacks Investment Research raised shares of Avangrid from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Goldman Sachs Group raised shares of Avangrid from a “sell” rating to a “neutral” rating and upped their price target for the company from $46.00 to $47.00 in a research report on Monday, April 8th. Macquarie cut shares of Avangrid from an “outperform” rating to a “neutral” rating and set a $49.50 price target on the stock. in a research report on Monday, March 4th. Finally, Janney Montgomery Scott cut shares of Avangrid from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 20th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Avangrid presently has an average rating of “Hold” and an average target price of $52.25.
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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