Balentine LLC Takes $220,000 Position in Avangrid, Inc. (NYSE:AGR)

Balentine LLC purchased a new stake in shares of Avangrid, Inc. (NYSE:AGR) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 6,797 shares of the utilities provider’s stock, valued at approximately $220,000.

Other large investors have also recently modified their holdings of the company. BKM Wealth Management LLC bought a new stake in shares of Avangrid during the 4th quarter valued at about $41,000. GAMMA Investing LLC purchased a new position in shares of Avangrid during the 4th quarter valued at about $60,000. Clearstead Advisors LLC raised its holdings in shares of Avangrid by 60.7% during the 3rd quarter. Clearstead Advisors LLC now owns 3,178 shares of the utilities provider’s stock valued at $96,000 after buying an additional 1,200 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Avangrid during the 4th quarter valued at about $204,000. Finally, QRG Capital Management Inc. purchased a new position in shares of Avangrid during the 3rd quarter valued at about $207,000. Institutional investors own 13.12% of the company’s stock.

Avangrid Price Performance

Shares of Avangrid stock opened at $36.03 on Friday. 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 business’s 50 day simple moving average is $36.30 and its two-hundred day simple moving average is $33.45. The stock has a market capitalization of $13.94 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 2.68 and a beta of 0.55. Avangrid, Inc. has a one year low of $27.46 and a one year high of $39.14.

Avangrid (NYSE:AGR) last announced its quarterly 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 return on equity of 4.35% and a net margin of 10.80%. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the firm earned $0.64 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. Analysts forecast that Avangrid, Inc. will post 2.23 EPS for the current year.

Avangrid Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.76 annualized dividend and a dividend yield of 4.88%. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AGR. StockNews.com raised Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Wells Fargo & Company raised their price objective on Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. Finally, Janney Montgomery Scott reaffirmed a “sell” rating and issued a $35.00 price target on shares of Avangrid in a research note on Friday, March 8th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $34.75.

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.