Prentiss Smith & Co. Inc. Sells 1,614 Shares of Avangrid, Inc. (NYSE:AGR)

Prentiss Smith & Co. Inc. cut its stake in shares of Avangrid, Inc. (NYSE:AGR) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,560 shares of the utilities provider’s stock after selling 1,614 shares during the quarter. Avangrid accounts for about 1.0% of Prentiss Smith & Co. Inc.’s portfolio, making the stock its 28th largest position. Prentiss Smith & Co. Inc.’s holdings in Avangrid were worth $1,282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AGR. Global Retirement Partners LLC grew its holdings in shares of Avangrid by 41.7% during the 3rd quarter. Global Retirement Partners LLC now owns 1,230 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 362 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Avangrid by 132.5% during the 3rd quarter. Lindbrook Capital LLC now owns 1,258 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 717 shares during the last quarter. BKM Wealth Management LLC bought a new stake in Avangrid during the 4th quarter worth approximately $41,000. GAMMA Investing LLC bought a new stake in Avangrid during the 4th quarter worth approximately $60,000. Finally, Clearstead Advisors LLC grew its holdings in Avangrid by 60.7% during the 3rd quarter. Clearstead Advisors LLC now owns 3,178 shares of the utilities provider’s stock worth $96,000 after acquiring an additional 1,200 shares during the last quarter. 13.12% of the stock is owned by institutional investors.

Avangrid Trading Down 1.3 %

Shares of NYSE:AGR traded down $0.47 during trading on Thursday, reaching $36.55. The stock had a trading volume of 588,628 shares, compared to its average volume of 922,440. The firm’s fifty day moving average is $34.69 and its 200 day moving average is $32.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.56 and a current ratio of 0.65. Avangrid, Inc. has a 52 week low of $27.46 and a 52 week high of $41.22. The stock has a market cap of $14.14 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 2.75 and a beta of 0.56.

Avangrid (NYSE:AGR) last posted its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Avangrid had a net margin of 10.80% and a return on equity of 4.37%. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period in the prior year, the firm posted $0.64 EPS. The company’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities analysts forecast that Avangrid, Inc. will post 2.23 EPS for the current fiscal year.

Avangrid Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.44 per share. The ex-dividend date is Friday, May 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.82%. Avangrid’s payout ratio is presently 76.19%.

Analysts Set New Price Targets

A number of research firms have weighed in on AGR. Mizuho boosted their target price on shares of Avangrid from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, January 3rd. StockNews.com raised shares of Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. Wells Fargo & Company boosted their target price 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. Finally, Janney Montgomery Scott reaffirmed a “sell” rating and issued a $35.00 price objective on shares of Avangrid in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.