abrdn plc Buys 12,389 Shares of Avangrid, Inc. (NYSE:AGR)

abrdn plc raised its stake in shares of Avangrid, Inc. (NYSE:AGR) by 110.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,566 shares of the utilities provider’s stock after purchasing an additional 12,389 shares during the period. abrdn plc’s holdings in Avangrid were worth $774,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Lindbrook Capital LLC grew its holdings in Avangrid by 132.5% during the 3rd 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 in the last quarter. BKM Wealth Management LLC bought a new position in shares of Avangrid during the 4th quarter valued at approximately $41,000. Clearstead Advisors LLC grew its holdings in shares of Avangrid by 60.7% in the third 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. SG Americas Securities LLC raised its stake in Avangrid by 37.1% during the third quarter. SG Americas Securities LLC now owns 3,639 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 985 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Avangrid during the third quarter valued at $122,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Avangrid Price Performance

AGR opened at $36.63 on Tuesday. The business has a fifty day moving average of $34.99 and a 200 day moving average of $32.71. The stock has a market cap of $14.17 billion, a P/E ratio of 15.86, a PEG ratio of 2.72 and a beta of 0.56. The company has a quick ratio of 0.50, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. Avangrid, Inc. has a 52-week low of $27.46 and a 52-week high of $41.22.

Avangrid (NYSE:AGR) last issued its earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 4.35%. The business’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share. As a group, sell-side analysts anticipate that Avangrid, Inc. will post 2.23 EPS for the current year.

Avangrid Announces Dividend

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

Wall Street Analyst Weigh In

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

Avangrid Company 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.