Ostrum Asset Management acquired a new position in shares of Avangrid Inc (NYSE:AGR) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,360 shares of the utilities provider’s stock, valued at approximately $223,000.
Several other large investors have also modified their holdings of AGR. US Bancorp DE increased its position in shares of Avangrid by 57.4% during the 4th quarter. US Bancorp DE now owns 5,440 shares of the utilities provider’s stock worth $275,000 after purchasing an additional 1,984 shares during the last quarter. M&T Bank Corp increased its position in shares of Avangrid by 80.3% during the 4th quarter. M&T Bank Corp now owns 33,280 shares of the utilities provider’s stock worth $1,683,000 after purchasing an additional 14,822 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Avangrid by 30.2% during the 4th quarter. California Public Employees Retirement System now owns 99,506 shares of the utilities provider’s stock worth $5,033,000 after purchasing an additional 23,101 shares during the last quarter. Wealthstreet Investment Advisors LLC acquired a new stake in shares of Avangrid during the 4th quarter worth about $209,000. Finally, Wells Fargo & Company MN increased its position in shares of Avangrid by 2.5% during the 4th quarter. Wells Fargo & Company MN now owns 706,799 shares of the utilities provider’s stock worth $35,749,000 after purchasing an additional 17,415 shares during the last quarter. 14.19% of the stock is owned by hedge funds and other institutional investors.
NYSE AGR opened at $51.50 on Friday. The stock has a market capitalization of $15.78 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 2.35 and a beta of 0.17. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.73 and a quick ratio of 0.66. Avangrid Inc has a 1-year low of $43.13 and a 1-year high of $54.55.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 8th will be paid a $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Thursday, June 7th. Avangrid’s payout ratio is presently 78.64%.
A number of brokerages recently issued reports on AGR. ValuEngine downgraded Avangrid from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. Zacks Investment Research downgraded Avangrid from a “hold” rating to a “sell” rating in a research report on Thursday, April 12th. Janney Montgomery Scott reissued a “buy” rating and set a $55.00 price objective on shares of Avangrid in a research report on Wednesday, April 25th. Bank of America raised their price objective on Avangrid from $53.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, April 12th. Finally, JPMorgan Chase & Co. lifted their target price on Avangrid from $44.00 to $46.00 and gave the company an “underweight” rating in a research report on Tuesday, April 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $52.21.
Avangrid, Inc operates as an energy services holding company in the United States. It engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. As of December 31, 2017, the company delivered electricity to approximately 2.2 million electric utility customers, as well as natural gas to approximately 1 million natural gas public utility customers; and owned approximately 67.5 billion cubic feet of net working gas storage capacity.
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