HB Wealth Management LLC Takes Position in Avangrid, Inc. (NYSE:AGR)

HB Wealth Management LLC purchased a new stake in shares of Avangrid, Inc. (NYSE:AGR) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,793 shares of the utilities provider’s stock, valued at approximately $393,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. BKM Wealth Management LLC acquired a new stake in shares of Avangrid during the fourth quarter worth about $41,000. GAMMA Investing LLC acquired a new stake in shares of Avangrid during the fourth quarter worth about $60,000. Lindbrook Capital LLC lifted its position in shares of Avangrid by 37.1% during the first quarter. Lindbrook Capital LLC now owns 2,150 shares of the utilities provider’s stock worth $78,000 after purchasing an additional 582 shares in the last quarter. Maryland State Retirement & Pension System purchased a new stake in shares of Avangrid during the first quarter worth approximately $201,000. Finally, Hoxton Planning & Management LLC purchased a new stake in shares of Avangrid during the first quarter worth approximately $216,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Ratings Changes

AGR has been the topic of a number of research reports. StockNews.com initiated coverage on shares of Avangrid in a research report on Monday. They set a “hold” rating on the stock. Janney Montgomery Scott reaffirmed a “sell” rating and set a $35.00 price target on shares of Avangrid in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $34.67.

Avangrid Price Performance

Avangrid stock traded down $0.03 during midday trading on Friday, reaching $35.32. The company’s stock had a trading volume of 171,112 shares, compared to its average volume of 865,045. Avangrid, Inc. has a fifty-two week low of $27.46 and a fifty-two week high of $39.13. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.58. The stock’s 50 day simple moving average is $35.96 and its 200 day simple moving average is $34.27. The firm has a market capitalization of $13.67 billion, a PE ratio of 15.32, a P/E/G ratio of 2.65 and a beta of 0.55.

Avangrid (NYSE:AGR) last released its earnings results on Wednesday, April 24th. The utilities provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter last year, the company earned $0.64 earnings per share. Avangrid’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Avangrid, Inc. will post 2.22 earnings per share for the current year.

Avangrid Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.98%. The ex-dividend date was Monday, June 3rd. Avangrid’s dividend payout ratio (DPR) is 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.