Commonwealth of Pennsylvania Public School Empls Retrmt SYS Takes $455,000 Position in Avangrid Inc (AGR)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Avangrid Inc (NYSE:AGR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,591 shares of the utilities provider’s stock, valued at approximately $455,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its stake in shares of Avangrid by 17.8% in the 3rd quarter. Legal & General Group Plc now owns 295,286 shares of the utilities provider’s stock valued at $14,002,000 after purchasing an additional 44,528 shares in the last quarter. Ffcm LLC acquired a new position in Avangrid during the 3rd quarter worth approximately $134,000. Robecosam AG lifted its position in Avangrid by 7.7% during the 3rd quarter. Robecosam AG now owns 140,000 shares of the utilities provider’s stock worth $6,607,000 after acquiring an additional 10,000 shares in the last quarter. Park Avenue Securities LLC lifted its position in Avangrid by 46.5% during the 3rd quarter. Park Avenue Securities LLC now owns 9,245 shares of the utilities provider’s stock worth $440,000 after acquiring an additional 2,935 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Avangrid by 26.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,273 shares of the utilities provider’s stock worth $1,436,000 after acquiring an additional 6,273 shares in the last quarter. 13.83% of the stock is currently owned by institutional investors and hedge funds.
Avangrid Inc (NYSE:AGR) opened at $52.13 on Friday. Avangrid Inc has a 12-month low of $35.89 and a 12-month high of $53.46. The stock has a market capitalization of $16,096.09, a P/E ratio of 23.05, a P/E/G ratio of 2.85 and a beta of 0.55. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.56 and a current ratio of 0.69.
Avangrid (NYSE:AGR) last released its quarterly earnings data on Tuesday, October 24th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.03. Avangrid had a return on equity of 2.61% and a net margin of 7.46%. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. equities analysts forecast that Avangrid Inc will post 2.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be given a dividend of $0.432 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $1.73 dividend on an annualized basis and a yield of 3.31%. Avangrid’s dividend payout ratio (DPR) is presently 80.47%.
AGR has been the topic of several analyst reports. Wells Fargo & Company downgraded Avangrid from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 1st. Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Bank of America initiated coverage on Avangrid in a report on Tuesday, October 24th. They set a “buy” rating and a $52.00 price objective on the stock. Finally, J P Morgan Chase & Co lifted their price objective on Avangrid from $43.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $47.50.
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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