First Pacific Financial Increases Position in Avangrid, Inc. (NYSE:AGR)

First Pacific Financial boosted its position in Avangrid, Inc. (NYSE:AGR) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,504 shares of the utilities provider’s stock after purchasing an additional 406 shares during the period. First Pacific Financial’s holdings in Avangrid were worth $438,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Cetera Advisor Networks LLC bought a new stake in Avangrid during the 1st quarter valued at $214,000. Citigroup Inc. increased its stake in Avangrid by 208.4% in the first quarter. Citigroup Inc. now owns 12,951 shares of the utilities provider’s stock valued at $605,000 after acquiring an additional 8,751 shares during the last quarter. Bank of Montreal Can increased its stake in Avangrid by 90.5% in the first quarter. Bank of Montreal Can now owns 21,626 shares of the utilities provider’s stock valued at $1,012,000 after acquiring an additional 10,271 shares during the last quarter. MetLife Investment Management LLC bought a new position in Avangrid in the first quarter valued at $53,000. Finally, Rhumbline Advisers boosted its position in Avangrid by 4.6% during the first quarter. Rhumbline Advisers now owns 47,510 shares of the utilities provider’s stock valued at $2,221,000 after buying an additional 2,072 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Mizuho upped their price target on shares of Avangrid from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, January 3rd. Janney Montgomery Scott reiterated a “sell” rating and set a $35.00 target price on shares of Avangrid in a report on Friday, March 8th. StockNews.com upgraded shares of Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Finally, Wells Fargo & Company raised their price objective on shares of Avangrid from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $34.75.

Avangrid Price Performance

Shares of AGR opened at $36.20 on Thursday. The company has a market capitalization of $14.00 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 0.65 and a beta of 0.54. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $32.36 and a 200 day moving average of $31.97. Avangrid, Inc. has a twelve month low of $27.46 and a twelve month high of $41.22.

Avangrid (NYSE:AGR) last issued its earnings results on Thursday, February 22nd. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. Avangrid had a net margin of 9.46% and a return on equity of 3.92%. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter last year, the company posted $0.39 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, equities research analysts anticipate that Avangrid, Inc. will post 2.25 earnings per share for the current fiscal year.

Avangrid Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend is Thursday, February 29th. Avangrid’s dividend payout ratio is currently 86.70%.

About Avangrid

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.