State Board of Administration of Florida Retirement System trimmed its holdings in Avangrid, Inc. (NYSE:AGR) by 6.7% during the second quarter, Holdings Channel reports. The institutional investor owned 101,216 shares of the utilities provider’s stock after selling 7,220 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Avangrid were worth $5,206,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its holdings in shares of Avangrid by 30.2% in the 1st quarter. Quadrant Capital Group LLC now owns 884 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 205 shares during the period. Aviva PLC raised its holdings in shares of Avangrid by 1.4% in the 1st quarter. Aviva PLC now owns 18,975 shares of the utilities provider’s stock worth $945,000 after purchasing an additional 268 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Avangrid by 19.9% in the 2nd quarter. Exchange Traded Concepts LLC now owns 2,081 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 346 shares during the period. Park Avenue Securities LLC raised its holdings in shares of Avangrid by 1.1% in the 2nd quarter. Park Avenue Securities LLC now owns 34,495 shares of the utilities provider’s stock worth $1,774,000 after purchasing an additional 381 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in shares of Avangrid by 1.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 25,739 shares of the utilities provider’s stock worth $1,324,000 after purchasing an additional 433 shares during the period. Institutional investors own 10.69% of the company’s stock.
Shares of NYSE:AGR opened at $50.17 on Wednesday. The company has a market cap of $19.43 billion, a P/E ratio of 23.01, a PEG ratio of 3.20 and a beta of 0.23. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.24. Avangrid, Inc. has a one year low of $44.02 and a one year high of $56.20. The business’s 50-day simple moving average is $53.17 and its 200 day simple moving average is $52.02.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 3rd will be paid a dividend of $0.44 per share. The ex-dividend date is Thursday, September 2nd. This represents a $1.76 dividend on an annualized basis and a yield of 3.51%. Avangrid’s dividend payout ratio (DPR) is presently 87.13%.
A number of research firms have recently commented on AGR. Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating in a report on Monday, August 2nd. Mizuho raised their price objective on Avangrid from $51.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, August 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Avangrid presently has an average rating of “Hold” and an average price target of $54.33.
Avangrid Company Profile
Avangrid, Inc engages in the energy transmission and gas distribution. It operates through the following segments: Networks, Renewables, and Other. The Networks segment includes energy transmission and distribution, electric transmission, and gas distribution activities. The Renewables segment relating to renewable energy, mainly wind energy generation and trading related with such activities.
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