Avangrid, Inc. (NYSE:AGR) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its holdings in Avangrid, Inc. (NYSE:AGR) by 20.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,917,324 shares of the utilities provider’s stock after purchasing an additional 326,084 shares during the quarter. Mackenzie Financial Corp’s holdings in Avangrid were worth $62,140,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vontobel Holding Ltd. increased its stake in Avangrid by 2.8% in the fourth quarter. Vontobel Holding Ltd. now owns 23,875 shares of the utilities provider’s stock valued at $774,000 after purchasing an additional 648 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Avangrid in the fourth quarter valued at $1,583,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Avangrid by 0.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 343,593 shares of the utilities provider’s stock valued at $11,136,000 after purchasing an additional 2,849 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Avangrid by 0.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 70,196 shares of the utilities provider’s stock valued at $2,264,000 after purchasing an additional 577 shares during the last quarter. Finally, SeaCrest Wealth Management LLC acquired a new position in Avangrid in the fourth quarter valued at $204,000. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on AGR. Janney Montgomery Scott reiterated a “sell” rating and issued a $35.00 target price on shares of Avangrid in a research note on Friday, March 8th. StockNews.com raised Avangrid from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. Mizuho boosted their price target on Avangrid from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, January 3rd. Finally, Wells Fargo & Company boosted their price target on Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $34.75.

Avangrid Price Performance

AGR stock opened at $35.69 on Wednesday. The stock has a 50-day moving average price of $33.94 and a two-hundred day moving average price of $32.27. Avangrid, Inc. has a 12-month low of $27.46 and a 12-month high of $41.22. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 0.48. The company has a market cap of $13.80 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 2.65 and a beta of 0.56.

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

Avangrid Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend is Friday, May 31st. Avangrid’s payout ratio is 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.