Natixis Increases Stock Position in Avangrid, Inc. (NYSE:AGR)

Natixis lifted its holdings in shares of Avangrid, Inc. (NYSE:AGR) by 3,122.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 166,432 shares of the utilities provider’s stock after acquiring an additional 161,267 shares during the period. Natixis’ holdings in Avangrid were worth $6,065,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Clean Energy Transition LLP acquired a new stake in shares of Avangrid during the fourth quarter worth $75,620,000. Mackenzie Financial Corp grew its position 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 buying an additional 326,084 shares during the last quarter. Norges Bank purchased a new position in Avangrid in the 4th quarter valued at $30,303,000. Charles Schwab Investment Management Inc. grew its position in Avangrid by 8.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 608,977 shares of the utilities provider’s stock valued at $19,737,000 after buying an additional 48,174 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in Avangrid by 65.1% in the 4th quarter. Hsbc Holdings PLC now owns 373,093 shares of the utilities provider’s stock valued at $12,088,000 after buying an additional 147,108 shares during the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Avangrid in a research report on Thursday. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $34.67.

Avangrid Price Performance

Shares of NYSE AGR opened at $35.53 on Friday. Avangrid, Inc. has a one year low of $27.46 and a one year high of $38.71. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.58. The company’s fifty day moving average is $35.54 and its two-hundred day moving average is $34.56. The firm has a market capitalization of $13.75 billion, a P/E ratio of 15.38, a PEG ratio of 2.67 and a beta of 0.55.

Avangrid (NYSE:AGR) last released its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. Avangrid had a net margin of 11.35% and a return on equity of 4.89%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the firm earned $0.21 EPS. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. Analysts forecast that Avangrid, Inc. will post 2.22 EPS for the current fiscal year.

Avangrid Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 annualized dividend and a dividend yield of 4.95%. Avangrid’s dividend payout ratio is presently 76.19%.

Avangrid Profile

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.