Allspring Global Investments Holdings LLC Has $172,000 Stock Position in Avangrid, Inc. (NYSE:AGR)

Allspring Global Investments Holdings LLC decreased its position in shares of Avangrid, Inc. (NYSE:AGR) by 24.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,321 shares of the utilities provider’s stock after selling 1,723 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Avangrid were worth $172,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AGR. Citigroup Inc. grew its stake in shares of Avangrid by 3.5% in the third quarter. Citigroup Inc. now owns 9,791 shares of the utilities provider’s stock worth $295,000 after acquiring an additional 334 shares during the last quarter. First Pacific Financial grew its position in Avangrid by 3.1% in the 4th quarter. First Pacific Financial now owns 13,504 shares of the utilities provider’s stock worth $438,000 after purchasing an additional 406 shares during the last quarter. Magellan Asset Management Ltd increased its holdings in shares of Avangrid by 0.3% during the 3rd quarter. Magellan Asset Management Ltd now owns 162,607 shares of the utilities provider’s stock worth $4,906,000 after purchasing an additional 559 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Avangrid by 0.8% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 70,196 shares of the utilities provider’s stock valued at $2,264,000 after buying an additional 577 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its position in shares of 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 acquiring an additional 717 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Avangrid Stock Down 0.5 %

Avangrid stock opened at $36.38 on Monday. Avangrid, Inc. has a fifty-two week low of $27.46 and a fifty-two week high of $41.22. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.56. The firm has a market capitalization of $14.08 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 2.72 and a beta of 0.56. The company’s 50 day simple moving average is $34.89 and its 200 day simple moving average is $32.67.

Avangrid (NYSE:AGR) last announced its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the firm posted $0.64 earnings per share. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Avangrid, Inc. will post 2.23 EPS for the current year.

Avangrid Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.44 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.76 annualized dividend and a dividend yield of 4.84%. Avangrid’s dividend payout ratio is presently 76.19%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Janney Montgomery Scott reissued a “sell” rating and issued a $35.00 target price on shares of Avangrid in a report on Friday, March 8th. Mizuho lifted their target price 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 raised shares of Avangrid from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Finally, Wells Fargo & Company raised their price objective on shares of Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.