Parallel Advisors LLC Cuts Stock Position in Avangrid, Inc. (NYSE:AGR)

Parallel Advisors LLC cut its holdings in Avangrid, Inc. (NYSE:AGRFree Report) by 40.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,944 shares of the utilities provider’s stock after selling 1,328 shares during the quarter. Parallel Advisors LLC’s holdings in Avangrid were worth $63,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AGR. Charles Schwab Investment Management Inc. increased its position in shares of 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. Vanguard Personalized Indexing Management LLC increased its position in shares of Avangrid by 34.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 35,791 shares of the utilities provider’s stock worth $1,080,000 after purchasing an additional 9,091 shares in the last quarter. Pathstone Family Office LLC increased its position in shares of Avangrid by 12.1% during the third quarter. Pathstone Family Office LLC now owns 29,013 shares of the utilities provider’s stock worth $886,000 after purchasing an additional 3,122 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Avangrid during the third quarter worth approximately $354,000. Finally, Greenleaf Trust purchased a new stake in shares of Avangrid during the third quarter worth approximately $216,000. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AGR. Wells Fargo & Company boosted their price target on Avangrid from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, February 23rd. Janney Montgomery Scott reiterated a “sell” rating and set a $35.00 price target on shares of Avangrid in a research report on Friday, March 8th. Finally, StockNews.com started coverage on Avangrid in a research report on Friday. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $34.75.

Check Out Our Latest Report on Avangrid

Avangrid Stock Performance

NYSE AGR opened at $35.67 on Friday. The stock’s fifty day moving average is $36.30 and its two-hundred day moving average is $33.80. The firm has a market capitalization of $13.80 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 2.67 and a beta of 0.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.58. Avangrid, Inc. has a fifty-two week low of $27.46 and a fifty-two week high of $39.14.

Avangrid (NYSE:AGRGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.54 billion. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, research analysts anticipate that Avangrid, Inc. will post 2.23 earnings per share for the current year.

Avangrid Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.93%. The ex-dividend date is Monday, June 3rd. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

Avangrid Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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