Principal Financial Group Inc. acquired a new position in Avangrid, Inc. (NYSE:AGR – Get Rating) during the first quarter, HoldingsChannel.com reports. The fund acquired 5,566 shares of the utilities provider’s stock, valued at approximately $260,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Wahed Invest LLC purchased a new position in shares of Avangrid in the fourth quarter worth approximately $34,000. Covestor Ltd purchased a new position in shares of Avangrid in the fourth quarter worth approximately $41,000. Lazard Asset Management LLC boosted its holdings in shares of Avangrid by 264.5% in the fourth quarter. Lazard Asset Management LLC now owns 915 shares of the utilities provider’s stock worth $44,000 after buying an additional 664 shares during the last quarter. City State Bank purchased a new position in shares of Avangrid in the fourth quarter worth approximately $54,000. Finally, UMB Bank N A MO purchased a new position in shares of Avangrid in the fourth quarter worth approximately $71,000. Hedge funds and other institutional investors own 12.49% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the stock. Barclays lowered their price target on shares of Avangrid from $51.00 to $48.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. TheStreet raised shares of Avangrid from a “c+” rating to a “b” rating in a report on Tuesday, August 9th. Siebert Williams Shank assumed coverage on shares of Avangrid in a report on Thursday, June 9th. They set a “buy” rating and a $57.00 price target on the stock. KeyCorp downgraded shares of Avangrid from a “sector weight” rating to an “underweight” rating and set a $40.00 price target on the stock. in a report on Monday, June 27th. They noted that the move was a valuation call. Finally, StockNews.com raised shares of Avangrid from a “hold” rating to a “buy” rating in a report on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $47.00.
Avangrid Trading Up 0.2 %
Avangrid (NYSE:AGR – Get Rating) last released its quarterly earnings data on Tuesday, July 26th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.13. Avangrid had a net margin of 12.12% and a return on equity of 4.65%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the business posted $0.35 earnings per share. On average, equities analysts predict that Avangrid, Inc. will post 2.29 earnings per share for the current fiscal year.
Avangrid Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.59%. The ex-dividend date is Thursday, September 1st. Avangrid’s dividend payout ratio is presently 75.21%.
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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