Electron Capital Partners LLC increased its position in shares of Avangrid Inc (NYSE:AGR) by 47.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 681,513 shares of the utilities provider’s stock after buying an additional 219,904 shares during the period. Avangrid accounts for 5.8% of Electron Capital Partners LLC’s holdings, making the stock its 5th biggest holding. Electron Capital Partners LLC owned about 0.22% of Avangrid worth $34,471,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in AGR. Schwab Charles Investment Management Inc. increased its stake in Avangrid by 6.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 172,184 shares of the utilities provider’s stock valued at $8,165,000 after purchasing an additional 10,419 shares in the last quarter. Wells Fargo & Company MN increased its stake in Avangrid by 255.3% in the third quarter. Wells Fargo & Company MN now owns 689,384 shares of the utilities provider’s stock valued at $32,692,000 after purchasing an additional 495,371 shares in the last quarter. Daiwa SB Investments Ltd. increased its stake in Avangrid by 48.1% in the fourth quarter. Daiwa SB Investments Ltd. now owns 26,088 shares of the utilities provider’s stock valued at $1,320,000 after purchasing an additional 8,477 shares in the last quarter. Mackenzie Financial Corp increased its stake in Avangrid by 139.1% in the third quarter. Mackenzie Financial Corp now owns 81,520 shares of the utilities provider’s stock valued at $3,866,000 after purchasing an additional 47,420 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Avangrid by 603.8% in the third quarter. BNP Paribas Arbitrage SA now owns 8,544 shares of the utilities provider’s stock valued at $405,000 after purchasing an additional 7,330 shares in the last quarter. 14.29% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on the stock. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $51.00 price target (down from $54.00) on shares of Avangrid in a research note on Wednesday, February 21st. Guggenheim set a $55.00 price target on shares of Avangrid and gave the company a “buy” rating in a research note on Thursday, February 15th. Bank of America reaffirmed a “buy” rating and issued a $53.00 price target (up from $52.00) on shares of Avangrid in a research note on Thursday, February 22nd. Zacks Investment Research raised shares of Avangrid from a “sell” rating to a “hold” rating in a research note on Monday, January 22nd. Finally, TheStreet raised shares of Avangrid from a “c” rating to a “b-” rating in a research note on Monday, December 18th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $50.50.
Avangrid (NYSE:AGR) last issued its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.61. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Avangrid had a net margin of 6.39% and a return on equity of 4.47%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the company earned $0.67 earnings per share. sell-side analysts anticipate that Avangrid Inc will post 2.37 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be issued a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, March 8th. Avangrid’s dividend payout ratio is currently 140.65%.
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Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.
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