Y.D. More Investments Ltd Decreases Position in Avangrid, Inc. (NYSE:AGR)

Y.D. More Investments Ltd lowered its stake in shares of Avangrid, Inc. (NYSE:AGR) by 29.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,900 shares of the utilities provider’s stock after selling 1,200 shares during the period. Y.D. More Investments Ltd’s holdings in Avangrid were worth $94,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC purchased a new position in Avangrid in the 4th quarter valued at approximately $60,000. Handelsbanken Fonder AB purchased a new position in Avangrid in the 4th quarter valued at approximately $4,195,000. Signaturefd LLC boosted its holdings in Avangrid by 34.1% in the 4th quarter. Signaturefd LLC now owns 12,813 shares of the utilities provider’s stock valued at $415,000 after purchasing an additional 3,259 shares during the period. abrdn plc boosted its holdings in Avangrid by 110.8% in the 4th quarter. abrdn plc now owns 23,566 shares of the utilities provider’s stock valued at $774,000 after purchasing an additional 12,389 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in Avangrid by 20.5% in the 4th quarter. Mackenzie Financial Corp now owns 1,917,324 shares of the utilities provider’s stock valued at $62,140,000 after purchasing an additional 326,084 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Avangrid Price Performance

Shares of NYSE:AGR opened at $36.65 on Thursday. The stock has a market cap of $14.18 billion, a PE ratio of 15.86, a PEG ratio of 2.73 and a beta of 0.55. The company’s fifty day moving average is $35.19 and its 200 day moving average is $32.77. Avangrid, Inc. has a 52 week low of $27.46 and a 52 week high of $41.22. The company has a quick ratio of 0.50, a current ratio of 0.58 and a debt-to-equity ratio of 0.47.

Avangrid (NYSE:AGR) last announced its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.18. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. Avangrid’s quarterly revenue was down 2.0% on a year-over-year basis. Research analysts anticipate that Avangrid, Inc. will post 2.23 earnings per share for the current year.

Avangrid Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend is Friday, May 31st. Avangrid’s payout ratio is currently 76.19%.

Analyst Upgrades and Downgrades

AGR has been the subject of several analyst reports. StockNews.com raised shares of Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Janney Montgomery Scott reissued a “sell” rating and issued a $35.00 price target on shares of Avangrid in a report on Friday, March 8th. Mizuho lifted their price objective on shares of Avangrid from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, January 3rd. Finally, Wells Fargo & Company lifted 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. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $34.75.

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.