Nomura Asset Management Co. Ltd. Raises Holdings in Avangrid Inc (AGR)

Nomura Asset Management Co. Ltd. raised its position in shares of Avangrid Inc (NYSE:AGR) by 19.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,490 shares of the utilities provider’s stock after purchasing an additional 8,300 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Avangrid were worth $2,632,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AGR. SG Americas Securities LLC boosted its stake in shares of Avangrid by 278.5% during the 4th quarter. SG Americas Securities LLC now owns 20,485 shares of the utilities provider’s stock worth $1,036,000 after acquiring an additional 15,073 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Avangrid by 11.0% in the fourth quarter. Victory Capital Management Inc. now owns 252,357 shares of the utilities provider’s stock valued at $12,764,000 after purchasing an additional 25,100 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Avangrid by 57.4% in the fourth quarter. US Bancorp DE now owns 5,440 shares of the utilities provider’s stock valued at $275,000 after purchasing an additional 1,984 shares in the last quarter. Alps Advisors Inc. purchased a new stake in shares of Avangrid in the fourth quarter valued at $246,000. Finally, M&T Bank Corp lifted its holdings in shares of Avangrid by 80.3% in the fourth quarter. M&T Bank Corp now owns 33,280 shares of the utilities provider’s stock valued at $1,683,000 after purchasing an additional 14,822 shares in the last quarter. 14.19% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:AGR opened at $50.14 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 0.34. Avangrid Inc has a 1 year low of $43.13 and a 1 year high of $54.55. The firm has a market cap of $15.35 billion, a P/E ratio of 22.79, a PEG ratio of 2.28 and a beta of 0.17.

Avangrid (NYSE:AGR) last posted its quarterly earnings data on Monday, April 23rd. The utilities provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.01). Avangrid had a return on equity of 4.59% and a net margin of 6.36%. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm earned $0.77 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. analysts anticipate that Avangrid Inc will post 2.38 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 8th will be given a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Thursday, June 7th. Avangrid’s dividend payout ratio (DPR) is presently 78.64%.

A number of research firms have recently issued reports on AGR. ValuEngine lowered Avangrid from a “buy” rating to a “hold” rating in a report on Friday, June 1st. Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating in a report on Monday, April 30th. Janney Montgomery Scott restated a “buy” rating and issued a $55.00 target price on shares of Avangrid in a report on Wednesday, April 25th. Citigroup began coverage on Avangrid in a report on Friday, April 13th. They issued a “buy” rating and a $58.00 target price for the company. Finally, Bank of America increased their target price on Avangrid from $53.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, April 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Avangrid currently has an average rating of “Buy” and an average price target of $52.21.

About Avangrid

Avangrid, Inc operates as an energy services holding company in the United States. It engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. As of December 31, 2017, the company delivered electricity to approximately 2.2 million electric utility customers, as well as natural gas to approximately 1 million natural gas public utility customers; and owned approximately 67.5 billion cubic feet of net working gas storage capacity.

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Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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