Mirae Asset Global Investments Co. Ltd. Decreases Stock Position in Avangrid, Inc. (NYSE:AGR)

Mirae Asset Global Investments Co. Ltd. reduced its position in Avangrid, Inc. (NYSE:AGRFree Report) by 5.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 326,042 shares of the utilities provider’s stock after selling 17,551 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.08% of Avangrid worth $12,693,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AGR. Robeco Institutional Asset Management B.V. raised its holdings in Avangrid by 2,285.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 96,754 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 92,698 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in Avangrid during the 4th quarter valued at $41,000. GAMMA Investing LLC purchased a new stake in Avangrid during the 4th quarter valued at $60,000. Lindbrook Capital LLC raised its stake in Avangrid by 37.1% during the 1st quarter. Lindbrook Capital LLC now owns 2,150 shares of the utilities provider’s stock valued at $78,000 after buying an additional 582 shares during the last quarter. Finally, Maryland State Retirement & Pension System purchased a new stake in Avangrid during the 1st quarter valued at $201,000. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Avangrid Price Performance

Shares of AGR opened at $35.34 on Monday. The firm has a market cap of $13.67 billion, a PE ratio of 15.30, a P/E/G ratio of 2.65 and a beta of 0.55. 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 firm has a fifty day simple moving average of $35.94 and a two-hundred day simple moving average of $34.32. Avangrid, Inc. has a 1-year low of $27.46 and a 1-year high of $39.13.

Avangrid (NYSE:AGRGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities analysts anticipate that Avangrid, Inc. will post 2.22 EPS for the current year.

Avangrid Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend was Monday, June 3rd. Avangrid’s payout ratio is 76.19%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Avangrid in a research note on Monday, July 1st. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $34.67.

View Our Latest Stock Analysis on Avangrid

About Avangrid

(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.

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Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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