Greenleaf Trust Takes Position in Avangrid, Inc. (NYSE:AGR)

Greenleaf Trust bought a new stake in Avangrid, Inc. (NYSE:AGR) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,263 shares of the utilities provider’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cetera Advisor Networks LLC grew its position in shares of Avangrid by 4.7% in the second quarter. Cetera Advisor Networks LLC now owns 4,787 shares of the utilities provider’s stock valued at $221,000 after purchasing an additional 215 shares during the last quarter. Continuum Advisory LLC grew its position in Avangrid by 4.6% during the fourth quarter. Continuum Advisory LLC now owns 6,097 shares of the utilities provider’s stock worth $262,000 after buying an additional 270 shares in the last quarter. Cetera Investment Advisers grew its position in Avangrid by 1.9% during the first quarter. Cetera Investment Advisers now owns 15,024 shares of the utilities provider’s stock worth $702,000 after buying an additional 276 shares in the last quarter. Charter Research & Investment Group Inc. grew its position in Avangrid by 2.0% during the first quarter. Charter Research & Investment Group Inc. now owns 15,163 shares of the utilities provider’s stock worth $605,000 after buying an additional 300 shares in the last quarter. Finally, Pathstone Family Office LLC grew its position in Avangrid by 2.0% during the fourth quarter. Pathstone Family Office LLC now owns 16,441 shares of the utilities provider’s stock worth $713,000 after buying an additional 321 shares in the last quarter. Institutional investors and hedge funds own 12.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AGR. Bank of America increased their price target on Avangrid from $34.00 to $35.00 in a research report on Wednesday, June 21st. KeyCorp raised Avangrid from an “underweight” rating to a “sector weight” rating in a research report on Wednesday, June 21st. Finally, StockNews.com cut Avangrid from a “hold” rating to a “sell” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, Avangrid currently has an average rating of “Hold” and a consensus price target of $38.25.

Avangrid Stock Up 0.3 %

NYSE AGR opened at $35.04 on Tuesday. Avangrid, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $50.59. The stock has a market capitalization of $13.55 billion, a PE ratio of 23.36, a PEG ratio of 3.76 and a beta of 0.42. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.59 and a quick ratio of 0.49. The business has a fifty day moving average price of $36.63 and a two-hundred day moving average price of $38.49.

Avangrid (NYSE:AGR) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29). Avangrid had a net margin of 7.23% and a return on equity of 2.94%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. The firm’s revenue was down 11.5% on a year-over-year basis. Equities analysts expect that Avangrid, Inc. will post 2.1 earnings per share for the current fiscal year.

Avangrid Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Thursday, August 31st. Avangrid’s payout ratio is 117.33%.

Avangrid Company Profile

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 in two segments: Networks and Renewables. It is involved in the generation, transmission, and distribution of electricity; and distribution, transportation, and sale of natural gas.