Treasurer of the State of North Carolina Increases Stock Holdings in Avangrid, Inc. (NYSE:AGR)

Treasurer of the State of North Carolina raised its position in Avangrid, Inc. (NYSE:AGR – Get Rating) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 30,762 shares of the utilities provider’s stock after acquiring an additional 390 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Avangrid were worth $1,322,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. MetLife Investment Management LLC acquired a new position in Avangrid in the 1st quarter valued at about $53,000. Cowa LLC acquired a new position in Avangrid in the 3rd quarter valued at about $54,000. New England Capital Financial Advisors LLC acquired a new position in Avangrid in the 4th quarter valued at about $54,000. Bessemer Group Inc. acquired a new position in Avangrid in the 3rd quarter valued at about $63,000. Finally, EverSource Wealth Advisors LLC acquired a new position in Avangrid in the 3rd quarter valued at about $92,000. 11.96% of the stock is owned by institutional investors and hedge funds.

Avangrid Price Performance

AGR stock opened at $38.55 on Friday. The business has a 50 day moving average price of $39.92 and a 200 day moving average price of $41.12. The stock has a market cap of $14.90 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 3.92 and a beta of 0.42. Avangrid, Inc. has a fifty-two week low of $37.44 and a fifty-two week high of $51.71. The company has a quick ratio of 0.59, a current ratio of 0.69 and a debt-to-equity ratio of 0.40.

Avangrid (NYSE:AGR – Get Rating) last posted its earnings results on Wednesday, April 26th. The utilities provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.12). The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Avangrid had a return on equity of 3.43% and a net margin of 8.25%. Avangrid’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 EPS. Equities research analysts anticipate that Avangrid, Inc. will post 2.23 earnings per share for the current fiscal year.

Avangrid Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Thursday, June 1st will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Wednesday, May 31st. Avangrid’s dividend payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AGR shares. Bank of America decreased their price objective on Avangrid from $37.00 to $34.00 and set an “underperform” rating for the company in a research note on Monday, April 3rd. Wells Fargo & Company decreased their price objective on 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 started coverage on Avangrid in a research note on Thursday. They issued a “hold” rating for the company. Finally, Mizuho decreased their price objective on Avangrid from $43.00 to $39.00 and set a “neutral” rating for the company in a research note on Wednesday, March 29th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $42.83.

Avangrid Profile

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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.