Y.D. More Investments Ltd Decreases Stake in Avangrid, Inc. (NYSE:AGR)

Y.D. More Investments Ltd lessened its holdings in shares of Avangrid, Inc. (NYSE:AGR) by 29.3% in the 4th quarter, HoldingsChannel reports. The firm owned 2,900 shares of the utilities provider’s stock after selling 1,200 shares during the quarter. Y.D. More Investments Ltd’s holdings in Avangrid were worth $94,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Mackenzie Financial Corp raised its holdings 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 worth $62,140,000 after purchasing an additional 326,084 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Avangrid by 14.6% in 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 buying an additional 71,441 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Avangrid by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 448,370 shares of the utilities provider’s stock valued at $13,527,000 after buying an additional 3,907 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in Avangrid by 10.7% in the third quarter. Gamco Investors INC. ET AL now owns 411,508 shares of the utilities provider’s stock valued at $12,415,000 after buying an additional 39,937 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Avangrid by 0.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 343,593 shares of the utilities provider’s stock valued at $11,136,000 after buying an additional 2,849 shares in the last quarter. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Avangrid Price Performance

Shares of AGR stock opened at $36.65 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.50. The firm’s 50-day moving average is $35.19 and its two-hundred day moving average is $32.77. Avangrid, Inc. has a 12 month low of $27.46 and a 12 month high of $41.22. The company has a market capitalization of $14.18 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 2.73 and a beta of 0.55.

Avangrid (NYSE:AGR) last issued its earnings results on Wednesday, April 24th. The utilities provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. Avangrid’s quarterly revenue was down 2.0% compared to the same quarter last year. Analysts predict that Avangrid, Inc. will post 2.23 earnings per share for the current year.

Avangrid Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.80%. The ex-dividend date is Friday, May 31st. Avangrid’s payout ratio is currently 76.19%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Janney Montgomery Scott reaffirmed a “sell” rating and issued a $35.00 price objective on shares of Avangrid in a report on Friday, March 8th. StockNews.com raised shares of Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Wells Fargo & Company lifted their target price on shares of Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd. Finally, Mizuho boosted their price target on shares of Avangrid from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $34.75.

About Avangrid

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.