Cipher Capital LP bought a new stake in Avangrid Inc (NYSE:AGR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 16,474 shares of the utilities provider’s stock, valued at approximately $826,000.
Several other institutional investors have also recently bought and sold shares of the company. Pzena Investment Management LLC increased its position in Avangrid by 21.1% in the 4th quarter. Pzena Investment Management LLC now owns 2,141,782 shares of the utilities provider’s stock valued at $107,282,000 after acquiring an additional 372,696 shares during the period. AQR Capital Management LLC increased its position in Avangrid by 180.8% in the 3rd quarter. AQR Capital Management LLC now owns 354,495 shares of the utilities provider’s stock valued at $16,991,000 after acquiring an additional 228,244 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Avangrid by 99.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 424,664 shares of the utilities provider’s stock valued at $21,271,000 after acquiring an additional 211,695 shares during the period. Rehmann Capital Advisory Group increased its position in Avangrid by 4,696.1% in the 3rd quarter. Rehmann Capital Advisory Group now owns 204,603 shares of the utilities provider’s stock valued at $4,268,000 after acquiring an additional 200,337 shares during the period. Finally, Westpac Banking Corp acquired a new position in Avangrid in the 3rd quarter valued at about $9,467,000. 14.77% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the company. Bank of America cut Avangrid from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $54.00 to $53.00 in a research report on Wednesday, February 20th. Goldman Sachs Group upgraded Avangrid from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $46.00 to $47.00 in a research report on Monday, April 8th. ValuEngine cut Avangrid from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Zacks Investment Research cut Avangrid from a “hold” rating to a “sell” rating in a report on Tuesday, December 25th. Finally, Macquarie cut Avangrid from an “outperform” rating to a “neutral” rating and set a $49.50 price target on the stock. in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Avangrid currently has an average rating of “Hold” and an average target price of $53.44.
Avangrid (NYSE:AGR) last issued its quarterly earnings results on Tuesday, February 19th. The utilities provider reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.06). Avangrid had a return on equity of 4.43% and a net margin of 9.18%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company earned $0.61 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Avangrid Inc will post 2.3 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Thursday, June 6th. Avangrid’s dividend payout ratio is presently 79.64%.
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Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.
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