IFM Investors Pty Ltd Acquires New Position in Avangrid, Inc. (NYSE:AGR)

IFM Investors Pty Ltd acquired a new stake in shares of Avangrid, Inc. (NYSE:AGR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,921 shares of the utilities provider’s stock, valued at approximately $362,000.

Several other institutional investors and hedge funds have also modified their holdings of AGR. Global Retirement Partners LLC increased its position in Avangrid by 41.7% during the third quarter. Global Retirement Partners LLC now owns 1,230 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 362 shares during the last quarter. Lindbrook Capital LLC increased its position in Avangrid by 132.5% during the third quarter. Lindbrook Capital LLC now owns 1,258 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 717 shares during the last quarter. BKM Wealth Management LLC acquired a new position in Avangrid during the fourth quarter worth approximately $41,000. GAMMA Investing LLC acquired a new position in Avangrid during the fourth quarter worth approximately $60,000. Finally, Clearstead Advisors LLC increased its position in Avangrid by 60.7% during the third quarter. Clearstead Advisors LLC now owns 3,178 shares of the utilities provider’s stock worth $96,000 after purchasing an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

AGR has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on shares of Avangrid from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, February 23rd. Mizuho increased their price objective on shares of Avangrid from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 3rd. StockNews.com raised shares of Avangrid from a “sell” rating to a “hold” rating in a research report 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 research report on Friday, March 8th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, Avangrid presently has a consensus rating of “Hold” and a consensus target price of $34.75.

Avangrid Stock Down 0.5 %

NYSE AGR traded down $0.17 during trading hours on Friday, reaching $36.38. 571,104 shares of the company traded hands, compared to its average volume of 745,989. Avangrid, Inc. has a 12 month low of $27.46 and a 12 month high of $41.22. The company has a current ratio of 0.58, a quick ratio of 0.56 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $14.08 billion, a PE ratio of 15.75, a PEG ratio of 2.72 and a beta of 0.56. The company has a 50 day moving average of $34.89 and a two-hundred day moving average of $32.67.

Avangrid (NYSE:AGR) last posted its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share (EPS) 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 the consensus estimate of $2.54 billion. During the same period last year, the firm posted $0.64 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts expect that Avangrid, Inc. will post 2.23 earnings per share for the current year.

Avangrid Dividend Announcement

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 annualized dividend and a yield of 4.84%. Avangrid’s dividend payout ratio is presently 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.