Investmark Advisory Group LLC Has $224,000 Holdings in Avangrid, Inc. (NYSE:AGR)

Investmark Advisory Group LLC cut its holdings in shares of Avangrid, Inc. (NYSE:AGRGet Rating) by 12.2% in the second quarter, Holdings Channel reports. The institutional investor owned 4,862 shares of the utilities provider’s stock after selling 673 shares during the quarter. Investmark Advisory Group LLC’s holdings in Avangrid were worth $224,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. First Pacific Financial lifted its holdings in shares of Avangrid by 2.4% during the first quarter. First Pacific Financial now owns 11,186 shares of the utilities provider’s stock worth $523,000 after buying an additional 266 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Avangrid by 1.9% during the first quarter. Cetera Investment Advisers now owns 15,024 shares of the utilities provider’s stock worth $702,000 after buying an additional 276 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Avangrid by 15.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,162 shares of the utilities provider’s stock worth $101,000 after buying an additional 296 shares during the last quarter. Flputnam Investment Management Co. raised its stake in shares of Avangrid by 4.6% in the fourth quarter. Flputnam Investment Management Co. now owns 7,112 shares of the utilities provider’s stock valued at $355,000 after purchasing an additional 315 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Avangrid by 1.6% in the first quarter. Treasurer of the State of North Carolina now owns 21,036 shares of the utilities provider’s stock valued at $983,000 after purchasing an additional 333 shares in the last quarter. 12.49% of the stock is currently owned by institutional investors and hedge funds.

Avangrid Price Performance

Avangrid stock traded down $1.57 during mid-day trading on Friday, hitting $45.14. 34,675 shares of the company were exchanged, compared to its average volume of 768,064. The company has a quick ratio of 0.77, a current ratio of 0.89 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average of $48.92 and a 200 day moving average of $47.10. Avangrid, Inc. has a 1-year low of $42.20 and a 1-year high of $53.95. The company has a market capitalization of $17.45 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 3.60 and a beta of 0.34.

Avangrid (NYSE:AGRGet Rating) last announced its earnings results on Tuesday, July 26th. The utilities provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.33 by $0.13. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Avangrid had a return on equity of 4.65% and a net margin of 12.12%. During the same quarter in the prior year, the business earned $0.35 earnings per share. As a group, sell-side analysts expect that Avangrid, Inc. will post 2.29 earnings per share for the current year.

Avangrid Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Thursday, September 1st. Avangrid’s payout ratio is presently 75.21%.

Wall Street Analysts Forecast Growth

AGR has been the subject of a number of recent research reports. TheStreet upgraded Avangrid from a “c+” rating to a “b” rating in a research note on Tuesday, August 9th. StockNews.com lowered Avangrid from a “buy” rating to a “hold” rating in a research note on Monday. Mizuho upped their target price on Avangrid from $42.00 to $47.00 and gave the company an “underperform” rating in a research note on Monday, September 12th. Barclays cut their target price on Avangrid from $51.00 to $48.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Finally, Siebert Williams Shank started coverage on Avangrid in a research note on Thursday, June 9th. They issued a “buy” rating and a $57.00 target price for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $49.00.

Avangrid Profile

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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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