BlackRock Inc. lifted its position in Avangrid, Inc. (NYSE:AGR – Get Rating) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,467,125 shares of the utilities provider’s stock after buying an additional 106,108 shares during the quarter. BlackRock Inc.’s holdings in Avangrid were worth $269,679,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of AGR. Gladius Capital Management LP acquired a new stake in shares of Avangrid in the second quarter worth $29,000. Money Concepts Capital Corp acquired a new position in Avangrid during the 3rd quarter valued at $31,000. Hexagon Capital Partners LLC raised its stake in Avangrid by 687.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 827 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 722 shares during the last quarter. CoreCap Advisors LLC acquired a new position in Avangrid during the 2nd quarter valued at $35,000. Finally, Wahed Invest LLC acquired a new position in Avangrid during the 2nd quarter valued at $35,000. 11.96% of the stock is currently owned by institutional investors and hedge funds.
Avangrid Trading Down 2.0 %
Shares of Avangrid stock opened at $38.05 on Monday. The firm has a market capitalization of $14.71 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 3.49 and a beta of 0.40. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.73 and a quick ratio of 0.61. The company’s fifty day moving average price is $41.51 and its two-hundred day moving average price is $42.75. Avangrid, Inc. has a 52-week low of $37.64 and a 52-week high of $51.71.
Avangrid Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Wednesday, March 1st will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.63%. The ex-dividend date is Tuesday, February 28th. Avangrid’s dividend payout ratio (DPR) is presently 77.19%.
Wall Street Analyst Weigh In
Several research firms recently commented on AGR. Wells Fargo & Company cut their target price on shares of Avangrid from $48.00 to $43.00 and set an “equal weight” rating for the company in a research note on Thursday, February 23rd. StockNews.com cut shares of Avangrid from a “buy” rating to a “hold” rating in a research note on Wednesday, February 8th. Finally, KeyCorp upped their target price on shares of Avangrid from $35.00 to $36.00 and gave the company an “underweight” rating in a research note on Tuesday, January 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.00.
Avangrid, Inc engages in the energy transmission and gas distribution. It operates through the following segments: Networks, Renewables, and Other. The Networks segment includes energy transmission and distribution, electric transmission, and gas distribution activities. The Renewables segment relates to renewable energy, mainly wind energy generation and trading related to such activities.
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