TIAA CREF Investment Management LLC raised its position in shares of Avangrid, Inc. (NYSE:AGR) by 9.2% during the first quarter, Holdings Channel reports. The fund owned 185,413 shares of the utilities provider’s stock after buying an additional 15,598 shares during the period. TIAA CREF Investment Management LLC’s holdings in Avangrid were worth $7,925,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in AGR. US Bancorp DE increased its stake in Avangrid by 106.3% in the first quarter. US Bancorp DE now owns 2,863 shares of the utilities provider’s stock worth $122,000 after buying an additional 1,475 shares during the last quarter. New York State Teachers Retirement System increased its stake in Avangrid by 2.0% in the fourth quarter. New York State Teachers Retirement System now owns 5,000 shares of the utilities provider’s stock worth $189,000 after buying an additional 100 shares during the last quarter. Klingenstein Fields & Co. LLC acquired a new stake in Avangrid during the first quarter worth approximately $214,000. GSA Capital Partners LLP acquired a new stake in Avangrid during the fourth quarter worth approximately $221,000. Finally, Nisa Investment Advisors LLC acquired a new stake in Avangrid during the first quarter worth approximately $227,000. Institutional investors own 13.43% of the company’s stock.
Shares of Avangrid, Inc. (NYSE AGR) opened at 43.37 on Monday. The stock’s 50 day moving average is $45.09 and its 200-day moving average is $42.12. The firm has a market cap of $13.40 billion, a P/E ratio of 20.46 and a beta of 0.56. Avangrid, Inc. has a one year low of $35.42 and a one year high of $46.44.
Avangrid (NYSE:AGR) last announced its quarterly earnings data on Tuesday, April 25th. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.05. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.73 billion. Avangrid had a net margin of 10.76% and a return on equity of 4.25%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 earnings per share. Analysts anticipate that Avangrid, Inc. will post $2.20 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be paid a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Thursday, September 7th. Avangrid’s payout ratio is 81.60%.
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Separately, Zacks Investment Research upgraded shares of Avangrid from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Avangrid presently has a consensus rating of “Hold” and a consensus target price of $45.60.
Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.
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