California State Teachers Retirement System Lowers Position in Avangrid Inc (AGR)
California State Teachers Retirement System lessened its stake in Avangrid Inc (NYSE:AGR) by 9.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 94,730 shares of the utilities provider’s stock after selling 9,681 shares during the quarter. California State Teachers Retirement System’s holdings in Avangrid were worth $4,492,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of AGR. Russell Investments Group Ltd. grew its stake in Avangrid by 62.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 13,127 shares of the utilities provider’s stock valued at $579,000 after buying an additional 5,034 shares in the last quarter. Sei Investments Co. grew its stake in Avangrid by 8,504.9% in the 2nd quarter. Sei Investments Co. now owns 8,777 shares of the utilities provider’s stock valued at $388,000 after buying an additional 8,675 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Avangrid by 30.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 161,765 shares of the utilities provider’s stock valued at $7,142,000 after buying an additional 37,919 shares in the last quarter. American Century Companies Inc. purchased a new position in Avangrid in the 2nd quarter valued at approximately $3,310,000. Finally, Utah Retirement Systems grew its stake in Avangrid by 2.0% in the 2nd quarter. Utah Retirement Systems now owns 10,400 shares of the utilities provider’s stock valued at $460,000 after buying an additional 200 shares in the last quarter. 13.83% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Avangrid from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. TheStreet upgraded shares of Avangrid from a “c” rating to a “b-” rating in a research note on Monday, December 18th. Wells Fargo & Co lowered shares of Avangrid from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st. Bank of America assumed coverage on shares of Avangrid in a research note on Tuesday, October 24th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Avangrid from $43.00 to $47.00 and gave the company an “underweight” rating in a research note on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $47.50.
Avangrid Inc (NYSE:AGR) opened at $48.96 on Friday. Avangrid Inc has a one year low of $37.42 and a one year high of $53.46. The firm has a market cap of $15,130.00 and a P/E ratio of 22.77. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 0.31.
Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, October 24th. The utilities provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Avangrid had a net margin of 11.23% and a return on equity of 4.60%. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 EPS. equities analysts predict that Avangrid Inc will post 2.21 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th were given a dividend of $0.432 per share. The ex-dividend date was Friday, December 8th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 3.53%. Avangrid’s dividend payout ratio (DPR) is currently 80.47%.
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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