Avangrid, Inc. (NYSE:AGR) Position Reduced by GSA Capital Partners LLP

Posted by on Jun 8th, 2023

GSA Capital Partners LLP decreased its position in shares of Avangrid, Inc. (NYSE:AGR – Get Rating) by 72.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,513 shares of the utilities provider’s stock after selling 25,192 shares during the period. GSA Capital Partners LLP’s holdings in Avangrid were worth $409,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AGR. Huntington National Bank acquired a new position in Avangrid in the fourth quarter worth approximately $32,000. MetLife Investment Management LLC acquired a new position in Avangrid in the first quarter worth approximately $53,000. New England Capital Financial Advisors LLC acquired a new position in Avangrid in the fourth quarter worth approximately $54,000. Bessemer Group Inc. acquired a new position in Avangrid in the third quarter worth approximately $63,000. Finally, Janiczek Wealth Management LLC grew its position in Avangrid by 14.2% in the fourth quarter. Janiczek Wealth Management LLC now owns 2,323 shares of the utilities provider’s stock worth $103,000 after buying an additional 288 shares during the last quarter. Institutional investors own 11.96% of the company’s stock.

Avangrid Trading Up 1.7 %

Shares of NYSE:AGR opened at $38.87 on Thursday. The firm has a fifty day moving average of $39.64 and a two-hundred day moving average of $40.88. The firm has a market capitalization of $15.03 billion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 3.88 and a beta of 0.42. Avangrid, Inc. has a 12-month low of $36.81 and a 12-month high of $51.71. The company has a quick ratio of 0.59, a current ratio of 0.69 and a debt-to-equity ratio of 0.40.

Avangrid (NYSE:AGR – Get Rating) last issued its earnings results on Wednesday, April 26th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.12). The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.22 billion. Avangrid had a net margin of 8.25% and a return on equity of 3.43%. The company’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the business earned $1.16 EPS. On average, equities analysts expect that Avangrid, Inc. will post 2.23 EPS for the current fiscal year.

Avangrid Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 1st will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.53%. The ex-dividend date is Wednesday, May 31st. Avangrid’s payout ratio is presently 100.00%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AGR shares. Mizuho decreased their price target on shares of Avangrid from $43.00 to $39.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 29th. Bank of America lowered their price objective on shares of Avangrid from $37.00 to $34.00 and set an “underperform” rating on the stock in a research report on Monday, April 3rd. Wells Fargo & Company lowered their price objective on shares of Avangrid from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 23rd. Finally, StockNews.com assumed coverage on shares of Avangrid in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.83.

Avangrid Profile

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Avangrid, Inc engages in the energy transmission and gas distribution. It operates through the following segments: Networks, Renewables, and Other. The Networks segment includes energy transmission and distribution, electric transmission, and gas distribution activities. The Renewables segment relates to renewable energy, mainly wind energy generation and trading related to such activities.

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Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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