Mirae Asset Global Investments Co. Ltd. Has $11.14 Million Position in Avangrid, Inc. (NYSE:AGR)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Avangrid, Inc. (NYSE:AGR) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 343,593 shares of the utilities provider’s stock after acquiring an additional 2,849 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.09% of Avangrid worth $11,136,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AGR. Geneos Wealth Management Inc. acquired a new position in shares of Avangrid during the 3rd quarter worth approximately $25,000. Global Retirement Partners LLC boosted its stake in Avangrid by 41.7% in the 3rd quarter. Global Retirement Partners LLC now owns 1,230 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 362 shares during the period. Lindbrook Capital LLC boosted its stake in Avangrid by 132.5% in the 3rd quarter. Lindbrook Capital LLC now owns 1,258 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 717 shares during the period. BKM Wealth Management LLC bought a new stake in Avangrid in the 4th quarter valued at $41,000. Finally, MetLife Investment Management LLC bought a new stake in Avangrid in the 1st quarter valued at $53,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Avangrid Price Performance

Shares of AGR stock opened at $35.76 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 0.48. Avangrid, Inc. has a twelve month low of $27.46 and a twelve month high of $41.22. The company has a market cap of $13.83 billion, a P/E ratio of 17.62, a P/E/G ratio of 2.65 and a beta of 0.56. The business has a fifty day simple moving average of $33.62 and a 200 day simple moving average of $32.16.

Avangrid (NYSE:AGR) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. Avangrid had a return on equity of 3.92% and a net margin of 9.46%. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the company earned $0.39 EPS. Avangrid’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, sell-side analysts forecast that Avangrid, Inc. will post 2.25 EPS for the current fiscal year.

Avangrid Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.76 annualized dividend and a dividend yield of 4.92%. Avangrid’s dividend payout ratio is currently 86.70%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Mizuho boosted their price target on Avangrid from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, January 3rd. StockNews.com upgraded Avangrid from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Janney Montgomery Scott restated a “sell” rating and issued a $35.00 price target on shares of Avangrid in a research note on Friday, March 8th. Finally, Wells Fargo & Company boosted their price target on Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $34.75.

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