Nisa Investment Advisors LLC grew its holdings in shares of Avangrid, Inc. (NYSE:AGR – Get Rating) by 347.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 10,300 shares of the utilities provider’s stock after acquiring an additional 8,000 shares during the period. Nisa Investment Advisors LLC’s holdings in Avangrid were worth $481,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Csenge Advisory Group boosted its stake in shares of Avangrid by 1.7% during the 4th quarter. Csenge Advisory Group now owns 13,753 shares of the utilities provider’s stock valued at $708,000 after buying an additional 228 shares during the last quarter. First Pacific Financial boosted its stake in shares of Avangrid by 2.4% during the 1st quarter. First Pacific Financial now owns 11,186 shares of the utilities provider’s stock valued at $523,000 after buying an additional 266 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Avangrid by 2.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 9,919 shares of the utilities provider’s stock valued at $495,000 after buying an additional 281 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Avangrid by 4.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,380 shares of the utilities provider’s stock valued at $318,000 after buying an additional 283 shares during the last quarter. Finally, Flputnam Investment Management Co. boosted its stake in shares of Avangrid by 4.6% during the 4th quarter. Flputnam Investment Management Co. now owns 7,112 shares of the utilities provider’s stock valued at $355,000 after buying an additional 315 shares during the last quarter. 11.44% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
AGR has been the topic of several research analyst reports. KeyCorp cut Avangrid from a “sector weight” rating to an “underweight” rating and set a $40.00 price objective on the stock. in a research note on Monday, June 27th. They noted that the move was a valuation call. Barclays reduced their price objective on Avangrid from $51.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. StockNews.com initiated coverage on Avangrid in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Siebert Williams Shank initiated coverage on Avangrid in a research note on Thursday, June 9th. They set a “buy” rating and a $57.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Avangrid currently has an average rating of “Hold” and a consensus target price of $47.00.
Avangrid Price Performance
Avangrid (NYSE:AGR – Get Rating) last issued its earnings results on Tuesday, April 26th. The utilities provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.09. Avangrid had a return on equity of 4.40% and a net margin of 11.45%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the company earned $1.14 earnings per share. On average, research analysts expect that Avangrid, Inc. will post 2.25 EPS for the current year.
Avangrid Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Thursday, September 1st. Avangrid’s dividend payout ratio (DPR) is 82.24%.
Avangrid, Inc, an energy services holding company, engages in the regulated energy transmission and distribution, and renewable energy generation businesses in the United States. The company operates through Networks and Renewables segments. It is involved in the generation, transmission, and distribution of electricity; and distribution, transportation, and sale of natural gas.
- Get a free copy of the StockNews.com research report on Avangrid (AGR)
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