D. E. Shaw & Co. Inc. decreased its holdings in shares of Avangrid Inc (NYSE:AGR) by 17.3% in the 4th quarter, Holdings Channel reports. The firm owned 381,988 shares of the utilities provider’s stock after selling 79,993 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Avangrid were worth $19,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also added to or reduced their stakes in the company. First Hawaiian Bank increased its stake in Avangrid by 355.8% during the fourth quarter. First Hawaiian Bank now owns 588 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 459 shares during the last quarter. Essex Savings Bank bought a new stake in Avangrid during the fourth quarter valued at $30,000. ERTS Wealth Advisors LLC bought a new stake in Avangrid during the fourth quarter valued at $34,000. Bremer Trust National Association bought a new stake in Avangrid during the fourth quarter valued at $49,000. Finally, Baker Ellis Asset Management LLC bought a new stake in Avangrid during the fourth quarter valued at $100,000. Hedge funds and other institutional investors own 14.47% of the company’s stock.
Several analysts have weighed in on the stock. Janney Montgomery Scott lowered shares of Avangrid from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 20th. Bank of America lowered shares of Avangrid from a “buy” rating to a “neutral” rating and lowered their target price for the company from $54.00 to $53.00 in a research note on Wednesday, February 20th. Citigroup lowered their target price on shares of Avangrid from $59.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday, December 4th. ValuEngine upgraded shares of Avangrid from a “hold” rating to a “buy” rating in a research note on Wednesday, December 5th. Finally, Zacks Investment Research upgraded shares of Avangrid from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Avangrid currently has a consensus rating of “Hold” and a consensus price target of $52.94.
Avangrid stock opened at $49.36 on Friday. The stock has a market cap of $15.08 billion, a PE ratio of 22.19, a PEG ratio of 2.76 and a beta of 0.07. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.65 and a quick ratio of 0.58. Avangrid Inc has a one year low of $45.81 and a one year high of $54.55.
Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, February 19th. The utilities provider reported $0.56 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.06). The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.32 billion. Avangrid had a return on equity of 4.43% and a net margin of 9.18%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.61 EPS. Equities research analysts predict that Avangrid Inc will post 2.3 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.76 annualized dividend and a dividend yield of 3.57%. Avangrid’s dividend payout ratio is currently 79.64%.
Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.
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