IFM Investors Pty Ltd Invests $362,000 in Avangrid, Inc. (NYSE:AGR)

IFM Investors Pty Ltd acquired a new position in Avangrid, Inc. (NYSE:AGR) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,921 shares of the utilities provider’s stock, valued at approximately $362,000.

A number of other institutional investors and hedge funds have also modified their holdings of AGR. CWM LLC lifted its stake in shares of Avangrid by 60.0% in the third quarter. CWM LLC now owns 4,765 shares of the utilities provider’s stock worth $144,000 after buying an additional 1,787 shares during the last quarter. IFP Advisors Inc raised its stake in Avangrid by 16.0% during the 3rd quarter. IFP Advisors Inc now owns 6,230 shares of the utilities provider’s stock valued at $188,000 after purchasing an additional 857 shares during the last quarter. Global Retirement Partners LLC raised its stake in Avangrid by 41.7% during the 3rd quarter. Global Retirement Partners LLC now owns 1,230 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 362 shares during the last quarter. SG Americas Securities LLC raised its stake in Avangrid by 37.1% during the 3rd quarter. SG Americas Securities LLC now owns 3,639 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 985 shares during the last quarter. Finally, Hartford Investment Management Co. raised its stake in Avangrid by 3.1% during the 3rd quarter. Hartford Investment Management Co. now owns 16,471 shares of the utilities provider’s stock valued at $497,000 after purchasing an additional 500 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Avangrid Stock Performance

Avangrid stock traded down $0.17 on Friday, hitting $36.38. The company’s stock had a trading volume of 571,104 shares, compared to its average volume of 745,989. The firm has a market cap of $14.08 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 2.72 and a beta of 0.56. The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average price of $34.89 and a 200-day moving average price of $32.67. Avangrid, Inc. has a one year low of $27.46 and a one year high of $41.22.

Avangrid (NYSE:AGR) last announced its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.18. The firm 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 quarter in the previous year, the firm posted $0.64 EPS. On average, equities analysts anticipate that Avangrid, Inc. will post 2.23 earnings per share for the current year.

Avangrid Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Friday, May 31st. Avangrid’s payout ratio is 76.19%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their target price on shares of Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, February 23rd. Janney Montgomery Scott reiterated a “sell” rating and set a $35.00 target price on shares of Avangrid in a research note on Friday, March 8th. Mizuho upped their target price on shares of Avangrid from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, January 3rd. Finally, StockNews.com raised shares of Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, Avangrid presently has a consensus rating of “Hold” and a consensus price target of $34.75.

About Avangrid

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.