California State Teachers Retirement System Has $1.06 Million Position in Avangrid, Inc. (NYSE:AGR)

California State Teachers Retirement System reduced its holdings in Avangrid, Inc. (NYSE:AGR) by 6.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,531 shares of the utilities provider’s stock after selling 1,937 shares during the quarter. California State Teachers Retirement System’s holdings in Avangrid were worth $1,058,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in AGR. Millennium Management LLC lifted its stake in shares of Avangrid by 9,303.6% in the second quarter. Millennium Management LLC now owns 527,167 shares of the utilities provider’s stock valued at $24,313,000 after buying an additional 521,561 shares during the period. AQR Capital Management LLC lifted its stake in Avangrid by 76.9% during the fourth quarter. AQR Capital Management LLC now owns 829,528 shares of the utilities provider’s stock worth $35,653,000 after purchasing an additional 360,477 shares during the period. Mackenzie Financial Corp lifted its stake in Avangrid by 35.9% during the first quarter. Mackenzie Financial Corp now owns 1,192,181 shares of the utilities provider’s stock worth $47,544,000 after purchasing an additional 314,982 shares during the period. Norges Bank bought a new position in Avangrid during the fourth quarter worth about $13,306,000. Finally, First Trust Advisors LP lifted its stake in Avangrid by 15.8% during the fourth quarter. First Trust Advisors LP now owns 2,035,045 shares of the utilities provider’s stock worth $87,468,000 after purchasing an additional 278,398 shares during the period. Institutional investors own 12.93% of the company’s stock.

Avangrid Stock Performance

NYSE AGR opened at $34.39 on Friday. The firm has a market cap of $13.30 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 3.77 and a beta of 0.42. The company has a 50 day moving average of $36.39 and a 200-day moving average of $38.36. The company has a current ratio of 0.59, a quick ratio of 0.49 and a debt-to-equity ratio of 0.41. Avangrid, Inc. has a 1-year low of $34.00 and a 1-year high of $50.59.

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

Avangrid Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date is Thursday, August 31st. Avangrid’s dividend payout ratio is currently 117.33%.

Analysts Set New Price Targets

A number of brokerages have commented on AGR. StockNews.com cut shares of Avangrid from a “hold” rating to a “sell” rating in a research note on Monday, August 28th. TheStreet cut shares of Avangrid from a “b-” rating to a “c” rating in a research note on Monday. Mizuho cut their price target on shares of Avangrid from $39.00 to $37.00 in a research note on Wednesday. KeyCorp upgraded shares of Avangrid from an “underweight” rating to a “sector weight” rating in a research note on Wednesday, June 21st. Finally, Bank of America raised their price objective on shares of Avangrid from $34.00 to $35.00 in a report on Wednesday, June 21st. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $37.75.

Avangrid 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.