Signaturefd LLC Increases Stock Holdings in Avangrid, Inc. (NYSE:AGR)

Signaturefd LLC grew its position in Avangrid, Inc. (NYSE:AGR) by 34.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,813 shares of the utilities provider’s stock after buying an additional 3,259 shares during the quarter. Signaturefd LLC’s holdings in Avangrid were worth $415,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Mackenzie Financial Corp boosted its stake in shares of Avangrid by 20.5% during the fourth quarter. Mackenzie Financial Corp now owns 1,917,324 shares of the utilities provider’s stock valued at $62,140,000 after acquiring an additional 326,084 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Avangrid by 179.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 157,984 shares of the utilities provider’s stock valued at $5,120,000 after acquiring an additional 101,543 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in shares of Avangrid by 110.5% during the third quarter. Schonfeld Strategic Advisors LLC now owns 170,700 shares of the utilities provider’s stock valued at $5,150,000 after acquiring an additional 89,600 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Avangrid by 14.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 560,803 shares of the utilities provider’s stock valued at $16,919,000 after acquiring an additional 71,441 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Avangrid by 71.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 152,462 shares of the utilities provider’s stock worth $4,600,000 after buying an additional 63,529 shares during the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AGR. Janney Montgomery Scott reissued a “sell” rating and issued a $35.00 price target on shares of Avangrid in a research note on Friday, March 8th. Wells Fargo & Company raised their price target on Avangrid from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, February 23rd. Mizuho raised their price target on Avangrid from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 3rd. Finally, StockNews.com raised Avangrid from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $34.75.

Avangrid Stock Performance

NYSE AGR opened at $36.55 on Friday. The firm has a market capitalization of $14.14 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.75 and a beta of 0.56. Avangrid, Inc. has a 1-year low of $27.46 and a 1-year high of $41.22. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.65 and a quick ratio of 0.56. The business’s 50-day simple moving average is $34.80 and its 200-day simple moving average is $32.61.

Avangrid (NYSE:AGR) last released its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.54 billion. Avangrid had a return on equity of 4.37% and a net margin of 10.80%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. Equities analysts predict that Avangrid, Inc. will post 2.23 EPS for the current year.

Avangrid Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued 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 4.82%. Avangrid’s payout ratio is currently 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.