HB Wealth Management LLC Takes $393,000 Position in Avangrid, Inc. (NYSE:AGR)

HB Wealth Management LLC bought a new position in Avangrid, Inc. (NYSE:AGR) in the 1st quarter, Holdings Channel.com reports. The fund bought 10,793 shares of the utilities provider’s stock, valued at approximately $393,000.

Several other large investors also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC boosted its holdings in shares of Avangrid by 7.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 44,666 shares of the utilities provider’s stock worth $1,628,000 after buying an additional 2,958 shares during the period. Greenleaf Trust acquired a new position in Avangrid during the 1st quarter valued at $228,000. Principal Financial Group Inc. acquired a new position in Avangrid during the 1st quarter valued at $217,000. Harrington Investments INC raised its stake in Avangrid by 2.1% during the 1st quarter. Harrington Investments INC now owns 26,983 shares of the utilities provider’s stock valued at $983,000 after purchasing an additional 557 shares during the last quarter. Finally, Lindbrook Capital LLC raised its stake in Avangrid by 37.1% during the 1st quarter. Lindbrook Capital LLC now owns 2,150 shares of the utilities provider’s stock valued at $78,000 after purchasing an additional 582 shares during the last quarter. 13.12% of the stock is owned by institutional investors.

Avangrid Trading Down 0.1 %

Shares of NYSE:AGR traded down $0.03 during mid-day trading on Friday, reaching $35.32. The stock had a trading volume of 171,112 shares, compared to its average volume of 865,045. The firm has a market cap of $13.67 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 2.65 and a beta of 0.55. The firm has a 50 day simple moving average of $35.96 and a two-hundred day simple moving average of $34.27. The company has a current ratio of 0.58, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. Avangrid, Inc. has a twelve month low of $27.46 and a twelve month high of $39.13.

Avangrid (NYSE:AGR) last announced its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.54 billion. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. Avangrid’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the company posted $0.64 EPS. On average, research analysts predict that Avangrid, Inc. will post 2.22 EPS for the current fiscal year.

Avangrid Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a $0.44 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.98%. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

Analyst Ratings Changes

AGR has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of Avangrid in a research report on Monday. They set a “hold” rating for the company. Janney Montgomery Scott reiterated a “sell” rating and set a $35.00 target price on shares of Avangrid in a research report on Friday, March 8th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $34.67.

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.