International Assets Investment Management LLC Takes Position in Avangrid, Inc. (NYSE:AGR)

International Assets Investment Management LLC acquired a new stake in Avangrid, Inc. (NYSE:AGR) in the 4th quarter, HoldingsChannel reports. The fund acquired 51,291 shares of the utilities provider’s stock, valued at approximately $1,583,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. acquired a new position in shares of Avangrid in the 3rd quarter valued at about $25,000. MetLife Investment Management LLC acquired a new position in Avangrid in the 1st quarter worth about $53,000. Global Retirement Partners LLC raised its holdings in Avangrid by 41.7% in the 3rd quarter. Global Retirement Partners LLC now owns 1,230 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 362 shares during the period. Lindbrook Capital LLC raised its holdings in Avangrid by 132.5% in the 3rd quarter. Lindbrook Capital LLC now owns 1,258 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 717 shares during the period. Finally, BKM Wealth Management LLC acquired a new position in Avangrid in the 4th quarter worth about $41,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Avangrid Price Performance

Shares of Avangrid stock opened at $36.87 on Friday. The business has a 50 day simple moving average of $34.30 and a two-hundred day simple moving average of $32.41. Avangrid, Inc. has a 12 month low of $27.46 and a 12 month high of $41.22. The stock has a market capitalization of $14.26 billion, a P/E ratio of 18.16, a PEG ratio of 2.68 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.65 and a quick ratio of 0.56.

Avangrid (NYSE:AGR) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.40 billion. During the same quarter in the prior year, the firm earned $0.39 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. As a group, analysts predict that Avangrid, Inc. will post 2.25 EPS for the current fiscal year.

Avangrid Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.76 annualized dividend and a dividend yield of 4.77%. Avangrid’s dividend payout ratio is presently 86.70%.

Wall Street Analyst Weigh In

AGR has been the subject of a number of analyst reports. StockNews.com raised Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Janney Montgomery Scott reaffirmed a “sell” rating and issued a $35.00 price target on shares of Avangrid in a report on Friday, March 8th. Wells Fargo & Company upped their price target on Avangrid from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd. Finally, Mizuho boosted their price objective on Avangrid from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $34.75.

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