Sigma Planning Corp Cuts Holdings in Avangrid Inc (AGR)

Sigma Planning Corp cut its stake in Avangrid Inc (NYSE:AGR) by 7.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 5,308 shares of the utilities provider’s stock after selling 418 shares during the quarter. Sigma Planning Corp’s holdings in Avangrid were worth $267,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in 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. Dimensional Fund Advisors LP grew its stake in shares of Avangrid by 2.5% during the third quarter. Dimensional Fund Advisors LP now owns 247,943 shares of the utilities provider’s stock valued at $11,882,000 after acquiring an additional 5,977 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Avangrid by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 29,713 shares of the utilities provider’s stock valued at $1,424,000 after acquiring an additional 2,933 shares in the last quarter. Trillium Asset Management LLC grew its stake in shares of Avangrid by 10.1% during the fourth quarter. Trillium Asset Management LLC now owns 177,832 shares of the utilities provider’s stock valued at $8,908,000 after acquiring an additional 16,255 shares in the last quarter. Finally, Bank of Nova Scotia acquired a new stake in shares of Avangrid during the fourth quarter valued at about $3,611,000. 14.82% of the stock is currently owned by institutional investors.

Several analysts have recently weighed in on the company. Zacks Investment Research downgraded Avangrid from a “hold” rating to a “sell” rating in a research note on Tuesday. Bank of America downgraded Avangrid from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $53.00 to $52.50 in a research note on Thursday, April 25th. Janney Montgomery Scott downgraded Avangrid from a “neutral” rating to a “sell” rating and lowered their target price for the company from $50.00 to $46.00 in a research note on Thursday, April 25th. Goldman Sachs Group upgraded Avangrid from a “sell” rating to a “neutral” rating and raised their target price for the company from $46.00 to $47.00 in a research note on Monday, April 8th. Finally, Macquarie downgraded Avangrid from an “outperform” rating to a “neutral” rating and set a $49.50 target price for the company. in a research note on Monday, March 4th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Avangrid currently has an average rating of “Hold” and a consensus price target of $52.25.

NYSE:AGR opened at $50.11 on Thursday. The stock has a market capitalization of $15.58 billion, a P/E ratio of 22.67, a PEG ratio of 2.88 and a beta of 0.08. Avangrid Inc has a one year low of $45.81 and a one year high of $54.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.63 and a quick ratio of 0.57.

Avangrid (NYSE:AGR) last posted its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.09). The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.84 billion. Avangrid had a return on equity of 4.27% and a net margin of 8.80%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.78 earnings per share. On average, analysts predict that Avangrid Inc will post 2.26 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.76 dividend on an annualized basis and a yield of 3.51%. Avangrid’s dividend payout ratio (DPR) is 79.64%.

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About Avangrid

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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