Alaska Permanent Fund Corp Sells 32,787 Shares of Avangrid, Inc. (NYSE:AGR)

Alaska Permanent Fund Corp lessened its stake in shares of Avangrid, Inc. (NYSE:AGR) by 80.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,002 shares of the utilities provider’s stock after selling 32,787 shares during the period. Alaska Permanent Fund Corp’s holdings in Avangrid were worth $259,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AGR. Global Retirement Partners LLC increased its holdings in Avangrid by 41.7% during the 3rd quarter. Global Retirement Partners LLC now owns 1,230 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 362 shares during the period. Lindbrook Capital LLC increased its stake in shares of Avangrid by 132.5% during the third quarter. Lindbrook Capital LLC now owns 1,258 shares of the utilities provider’s stock valued at $38,000 after buying an additional 717 shares during the period. BKM Wealth Management LLC bought a new stake in shares of Avangrid in the fourth quarter valued at about $41,000. GAMMA Investing LLC purchased a new stake in Avangrid in the fourth quarter worth about $60,000. Finally, Clearstead Advisors LLC raised its holdings in shares of Avangrid by 60.7% in the 3rd quarter. Clearstead Advisors LLC now owns 3,178 shares of the utilities provider’s stock valued at $96,000 after purchasing an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Avangrid Price Performance

Shares of NYSE AGR opened at $36.39 on Friday. Avangrid, Inc. has a fifty-two week low of $27.46 and a fifty-two week high of $41.22. The company has a market cap of $14.07 billion, a PE ratio of 15.75, a P/E/G ratio of 2.77 and a beta of 0.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 0.65. The business has a 50-day simple moving average of $34.89 and a two-hundred day simple moving average of $32.65.

Avangrid (NYSE:AGR) last announced its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.54 billion. Avangrid had a net margin of 10.80% and a return on equity of 4.37%. Avangrid’s revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. As a group, equities analysts expect that Avangrid, Inc. will post 2.23 EPS for the current fiscal year.

Avangrid Dividend Announcement

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

Analysts Set New Price Targets

AGR has been the topic of a number of recent research reports. Mizuho increased their price objective 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. StockNews.com upgraded Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Wells Fargo & Company lifted their price target on Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. Finally, Janney Montgomery Scott reiterated a “sell” rating and issued a $35.00 target price on shares of Avangrid in a report on Friday, March 8th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $34.75.

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.