Avangrid, Inc. (NYSE:AGR) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC reduced its stake in Avangrid, Inc. (NYSE:AGR) by 59.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 866 shares of the utilities provider’s stock after selling 1,276 shares during the period. Tower Research Capital LLC TRC’s holdings in Avangrid were worth $28,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. lifted its holdings in Avangrid by 3.5% in the 3rd quarter. Citigroup Inc. now owns 9,791 shares of the utilities provider’s stock valued at $295,000 after acquiring an additional 334 shares during the last quarter. First Pacific Financial increased its holdings in shares of Avangrid by 3.1% in the fourth quarter. First Pacific Financial now owns 13,504 shares of the utilities provider’s stock valued at $438,000 after buying an additional 406 shares in the last quarter. Magellan Asset Management Ltd lifted its position in shares of Avangrid by 0.3% during the 3rd quarter. Magellan Asset Management Ltd now owns 162,607 shares of the utilities provider’s stock valued at $4,906,000 after acquiring an additional 559 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Avangrid by 0.8% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 70,196 shares of the utilities provider’s stock valued at $2,264,000 after acquiring an additional 577 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in shares of Avangrid by 2.8% during the 4th quarter. Vontobel Holding Ltd. now owns 23,875 shares of the utilities provider’s stock worth $774,000 after acquiring an additional 648 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Janney Montgomery Scott reaffirmed a “sell” rating and set a $35.00 target price on shares of Avangrid in a report on Friday, March 8th. Wells Fargo & Company raised 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, StockNews.com upgraded shares of Avangrid from a “sell” rating to a “hold” rating in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $34.75.

Avangrid Stock Up 0.2 %

NYSE AGR traded up $0.07 during trading on Friday, reaching $36.62. 592,740 shares of the company’s stock were exchanged, compared to its average volume of 825,551. 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 fifty-two week low of $27.46 and a fifty-two week high of $41.22. The company’s fifty day simple moving average is $35.37 and its 200-day simple moving average is $32.84. The firm has a market capitalization of $14.17 billion, a PE ratio of 15.85, a P/E/G ratio of 2.73 and a beta of 0.55.

Avangrid (NYSE:AGR) last posted its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. Sell-side analysts predict that Avangrid, Inc. will post 2.23 EPS for the current year.

Avangrid Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date is Friday, May 31st. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

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.