abrdn plc Boosts Holdings in Avangrid, Inc. (NYSE:AGR)

abrdn plc increased its holdings in shares of Avangrid, Inc. (NYSE:AGR) by 110.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 23,566 shares of the utilities provider’s stock after purchasing an additional 12,389 shares during the period. abrdn plc’s holdings in Avangrid were worth $774,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AGR. Lindbrook Capital LLC raised its stake in shares of Avangrid by 132.5% in the third quarter. Lindbrook Capital LLC now owns 1,258 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 717 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Avangrid during the fourth quarter worth approximately $41,000. Clearstead Advisors LLC grew its holdings in Avangrid by 60.7% during the 3rd quarter. Clearstead Advisors LLC now owns 3,178 shares of the utilities provider’s stock worth $96,000 after acquiring an additional 1,200 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Avangrid by 37.1% in the 3rd quarter. SG Americas Securities LLC now owns 3,639 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 985 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in shares of Avangrid during the 3rd quarter worth $122,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analysts Set New Price Targets

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

Avangrid Stock Up 0.7 %

Avangrid stock opened at $36.63 on Tuesday. The stock has a market capitalization of $14.17 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 2.72 and a beta of 0.56. The company has a current ratio of 0.58, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average of $34.99 and a two-hundred day moving average of $32.71. Avangrid, Inc. has a twelve month low of $27.46 and a twelve month high of $41.22.

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

Avangrid Announces Dividend

The company 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 dividend on an annualized basis and a yield of 4.80%. Avangrid’s payout ratio is currently 76.19%.

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.