Investmark Advisory Group LLC Cuts Position in Avangrid, Inc. (NYSE:AGR)

Investmark Advisory Group LLC decreased its holdings in Avangrid, Inc. (NYSE:AGRGet Rating) by 12.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,862 shares of the utilities provider’s stock after selling 673 shares during the period. Investmark Advisory Group LLC’s holdings in Avangrid were worth $224,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wahed Invest LLC purchased a new stake in shares of Avangrid during the fourth quarter valued at approximately $34,000. GW&K Investment Management LLC purchased a new stake in shares of Avangrid during the first quarter valued at approximately $42,000. MetLife Investment Management LLC purchased a new stake in shares of Avangrid during the first quarter valued at approximately $53,000. City State Bank purchased a new stake in shares of Avangrid during the fourth quarter valued at approximately $54,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Avangrid by 15.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,162 shares of the utilities provider’s stock valued at $101,000 after purchasing an additional 296 shares during the period. Hedge funds and other institutional investors own 12.49% of the company’s stock.

Analyst Upgrades and Downgrades

AGR has been the subject of a number of research analyst reports. KeyCorp lifted their price target on shares of Avangrid from $40.00 to $41.00 and gave the stock an “underweight” rating in a research note on Friday. Siebert Williams Shank initiated coverage on shares of Avangrid in a research note on Thursday, June 9th. They issued a “buy” rating and a $57.00 price target for the company. TheStreet upgraded shares of Avangrid from a “c+” rating to a “b” rating in a research note on Tuesday, August 9th. Barclays dropped their price target on shares of Avangrid from $51.00 to $48.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Finally, StockNews.com lowered shares of Avangrid from a “buy” rating to a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $49.00.

Avangrid Stock Performance

Shares of AGR traded down $1.57 during midday trading on Friday, hitting $45.14. 34,675 shares of the stock traded hands, compared to its average volume of 768,064. Avangrid, Inc. has a 1-year low of $42.20 and a 1-year high of $53.95. The firm has a market capitalization of $17.45 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 3.60 and a beta of 0.34. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.89. The business’s 50 day moving average price is $48.92 and its two-hundred day moving average price is $47.10.

Avangrid (NYSE:AGRGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The utilities provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.13. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.60 billion. Avangrid had a net margin of 12.12% and a return on equity of 4.65%. During the same quarter in the prior year, the company posted $0.35 earnings per share. Equities research analysts predict that Avangrid, Inc. will post 2.29 EPS for the current fiscal year.

Avangrid Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.90%. The ex-dividend date is Thursday, September 1st. Avangrid’s payout ratio is currently 75.21%.

About Avangrid

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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.

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Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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