ERTS Wealth Advisors LLC Acquires Shares of 670 Avangrid Inc (AGR)

ERTS Wealth Advisors LLC purchased a new stake in shares of Avangrid Inc (NYSE:AGR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 670 shares of the utilities provider’s stock, valued at approximately $34,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Avangrid by 1.2% in the third quarter. Vanguard Group Inc. now owns 5,531,698 shares of the utilities provider’s stock valued at $265,135,000 after purchasing an additional 65,687 shares during the period. Vanguard Group Inc boosted its stake in shares of Avangrid by 1.2% in the third quarter. Vanguard Group Inc now owns 5,531,698 shares of the utilities provider’s stock valued at $265,135,000 after purchasing an additional 65,687 shares during the period. BlackRock Inc. boosted its stake in shares of Avangrid by 4.8% in the fourth quarter. BlackRock Inc. now owns 2,235,551 shares of the utilities provider’s stock valued at $111,980,000 after purchasing an additional 103,270 shares during the period. Pzena Investment Management LLC boosted its stake in shares of Avangrid by 21.1% in the fourth quarter. Pzena Investment Management LLC now owns 2,141,782 shares of the utilities provider’s stock valued at $107,282,000 after purchasing an additional 372,696 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Avangrid by 49.6% in the third quarter. Jennison Associates LLC now owns 1,223,203 shares of the utilities provider’s stock valued at $58,628,000 after purchasing an additional 405,680 shares during the period. Institutional investors and hedge funds own 14.58% of the company’s stock.

Shares of Avangrid stock opened at $49.43 on Friday. Avangrid Inc has a 52-week low of $45.81 and a 52-week high of $54.55. The company has a quick ratio of 0.58, a current ratio of 0.65 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $15.30 billion, a P/E ratio of 22.37, a PEG ratio of 2.82 and a beta of 0.07.

Avangrid (NYSE:AGR) last issued its quarterly earnings results on Tuesday, February 19th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.06). Avangrid had a return on equity of 4.43% and a net margin of 9.18%. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts anticipate that Avangrid Inc will post 2.29 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be issued a dividend of $0.44 per share. The ex-dividend date is Thursday, March 7th. This represents a $1.76 dividend on an annualized basis and a yield of 3.56%. Avangrid’s payout ratio is currently 79.64%.

Several research firms have recently commented on AGR. Macquarie lowered shares of Avangrid from an “outperform” rating to a “neutral” rating and set a $49.50 price objective for the company. in a research note on Monday, March 4th. Janney Montgomery Scott lowered shares of Avangrid from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 20th. Bank of America lowered shares of Avangrid from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $54.00 to $53.00 in a research note on Wednesday, February 20th. ValuEngine downgraded shares of Avangrid from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Finally, Goldman Sachs Group downgraded shares of Avangrid from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 30th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $52.94.

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Avangrid Company Profile

Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.

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Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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