Cramer Rosenthal Mcglynn LLC lowered its position in Avangrid Inc (NYSE:AGR) by 18.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 710,272 shares of the utilities provider’s stock after selling 161,875 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned about 0.23% of Avangrid worth $35,926,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its stake in shares of 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 acquiring an additional 10,419 shares during the period. Wells Fargo & Company MN raised its stake in shares of 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 acquiring an additional 495,371 shares during the period. Daiwa SB Investments Ltd. raised its stake in shares of 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 acquiring an additional 8,477 shares during the period. Mackenzie Financial Corp raised its stake in shares of 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 acquiring an additional 47,420 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in shares of 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 acquiring an additional 7,330 shares during the period. 14.29% of the stock is currently owned by institutional investors and hedge funds.
AGR has been the topic of several recent analyst reports. Gabelli reissued a “buy” rating on shares of Avangrid in a research note on Wednesday, February 21st. Goldman Sachs Group initiated coverage on shares of Avangrid in a research note on Wednesday, January 10th. They issued a “buy” rating on the stock. Zacks Investment Research downgraded shares of Avangrid from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. TheStreet raised shares of Avangrid from a “c” rating to a “b-” rating in a research note on Monday, December 18th. Finally, Bank of America reaffirmed a “buy” rating and issued a $53.00 price target (up previously from $52.00) on shares of Avangrid in a research note on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $50.50.
Avangrid (NYSE:AGR) last posted its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.61 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Avangrid had a net margin of 6.39% and a return on equity of 4.47%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 EPS. analysts forecast that Avangrid Inc will post 2.37 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be paid a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Thursday, March 8th. Avangrid’s dividend payout ratio is presently 140.65%.
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Avangrid Company Profile
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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