PNC Financial Services Group Inc. increased its stake in Avangrid, Inc. (NYSE:AGR – Free Report) by 20.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,713 shares of the utilities provider’s stock after buying an additional 1,855 shares during the period. PNC Financial Services Group Inc.’s holdings in Avangrid were worth $347,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Citigroup Inc. lifted its holdings in shares of Avangrid by 3.5% during the 3rd quarter. Citigroup Inc. now owns 9,791 shares of the utilities provider’s stock valued at $295,000 after buying an additional 334 shares during the period. First Pacific Financial lifted its holdings in shares of Avangrid by 3.1% during the 4th quarter. First Pacific Financial now owns 13,504 shares of the utilities provider’s stock valued at $438,000 after buying an additional 406 shares during the period. Magellan Asset Management Ltd lifted its holdings in shares of Avangrid by 0.3% during the 3rd quarter. Magellan Asset Management Ltd now owns 162,607 shares of the utilities provider’s stock valued at $4,906,000 after buying an additional 559 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in Avangrid by 0.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 70,196 shares of the utilities provider’s stock worth $2,264,000 after purchasing an additional 577 shares during the period. Finally, Vontobel Holding Ltd. raised its holdings in Avangrid by 2.8% in the 4th quarter. Vontobel Holding Ltd. now owns 23,875 shares of the utilities provider’s stock worth $774,000 after purchasing an additional 648 shares during the period. 13.12% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. Wells Fargo & Company raised their target price on Avangrid from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd. Janney Montgomery Scott reiterated a “sell” rating and issued a $35.00 price target on shares of Avangrid in a research note on Friday, March 8th. Finally, StockNews.com assumed coverage on Avangrid in a research report on Thursday, May 30th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $34.75.
Check Out Our Latest Stock Report on Avangrid
Avangrid Stock Performance
Shares of AGR stock opened at $35.69 on Wednesday. The firm has a market cap of $13.81 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 2.69 and a beta of 0.55. The company’s 50 day moving average is $36.32 and its 200 day moving average is $33.77. The company has a quick ratio of 0.50, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. Avangrid, Inc. has a 52-week low of $27.46 and a 52-week high of $39.14.
Avangrid (NYSE:AGR – Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.54 billion. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 earnings per share. On average, sell-side analysts anticipate that Avangrid, Inc. will post 2.23 EPS for the current fiscal year.
Avangrid Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.93%. Avangrid’s dividend payout ratio is currently 76.19%.
Avangrid 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.
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Source: defenseworld.net
