Quent Capital LLC Sells 323 Shares of Avangrid, Inc. (NYSE:AGR)

Quent Capital LLC cut its position in shares of Avangrid, Inc. (NYSE:AGRFree Report) by 22.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,134 shares of the utilities provider’s stock after selling 323 shares during the period. Quent Capital LLC’s holdings in Avangrid were worth $37,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of AGR. Cetera Advisor Networks LLC bought a new stake in shares of Avangrid during the first quarter valued at approximately $214,000. Citigroup Inc. increased its position in shares of Avangrid by 208.4% during the first quarter. Citigroup Inc. now owns 12,951 shares of the utilities provider’s stock valued at $605,000 after purchasing an additional 8,751 shares during the period. Bank of Montreal Can increased its position in shares of Avangrid by 90.5% during the first quarter. Bank of Montreal Can now owns 21,626 shares of the utilities provider’s stock valued at $1,012,000 after purchasing an additional 10,271 shares during the period. MetLife Investment Management LLC bought a new stake in shares of Avangrid during the first quarter valued at approximately $53,000. Finally, Rhumbline Advisers boosted its stake in Avangrid by 4.6% in the 1st quarter. Rhumbline Advisers now owns 47,510 shares of the utilities provider’s stock valued at $2,221,000 after buying an additional 2,072 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors.

Avangrid Stock Down 1.2 %

Shares of NYSE:AGR opened at $36.02 on Tuesday. Avangrid, Inc. has a 12 month low of $27.46 and a 12 month high of $41.22. The company’s 50-day moving average price is $32.68 and its two-hundred day moving average price is $32.02. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 0.48. The firm has a market cap of $13.93 billion, a P/E ratio of 17.74, a P/E/G ratio of 0.67 and a beta of 0.54.

Avangrid (NYSE:AGRGet Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. Avangrid had a net margin of 9.46% and a return on equity of 3.92%. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. The company’s revenue was up 5.7% on a year-over-year basis. As a group, research analysts forecast that Avangrid, Inc. will post 2.25 EPS for the current fiscal year.

Avangrid Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Thursday, February 29th. Avangrid’s dividend payout ratio is currently 86.70%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AGR. Janney Montgomery Scott reissued a “sell” rating and set a $35.00 price objective on shares of Avangrid in a report on Friday, March 8th. StockNews.com raised shares of Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Mizuho upped their target price on shares of Avangrid from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, January 3rd. Finally, Wells Fargo & Company upped their target price on shares of Avangrid from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $34.75.

View Our Latest Stock Analysis on Avangrid

Avangrid Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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