California Public Employees Retirement System Buys 11,505 Shares of Avangrid Inc (AGR)

California Public Employees Retirement System increased its stake in Avangrid Inc (NYSE:AGR) by 17.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 76,405 shares of the utilities provider’s stock after acquiring an additional 11,505 shares during the period. California Public Employees Retirement System’s holdings in Avangrid were worth $3,623,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AGR. Ffcm LLC bought a new stake in Avangrid in the third quarter worth about $134,000. McKinley Carter Wealth Services Inc. bought a new stake in Avangrid in the third quarter worth about $207,000. Joel Isaacson & Co. LLC bought a new stake in Avangrid in the third quarter worth about $212,000. Harrington Investments INC bought a new stake in Avangrid in the third quarter worth about $226,000. Finally, SG Americas Securities LLC bought a new stake in Avangrid in the third quarter worth about $257,000. Institutional investors own 13.83% of the company’s stock.

Shares of Avangrid Inc (NYSE:AGR) opened at $48.52 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.69 and a quick ratio of 0.56. The stock has a market cap of $15,085.64, a PE ratio of 21.60, a price-to-earnings-growth ratio of 2.46 and a beta of 0.56. Avangrid Inc has a 12 month low of $37.42 and a 12 month high of $53.46.

Avangrid (NYSE:AGR) last announced its quarterly earnings data on Tuesday, October 24th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Avangrid had a net margin of 11.23% and a return on equity of 4.60%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm earned $0.35 earnings per share. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. equities analysts forecast that Avangrid Inc will post 2.21 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th were paid a dividend of $0.432 per share. This represents a $1.73 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Friday, December 8th. Avangrid’s dividend payout ratio is presently 80.47%.

Several brokerages have issued reports on AGR. Wells Fargo & Co downgraded shares of Avangrid from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 1st. Zacks Investment Research downgraded shares of Avangrid from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. TheStreet raised shares of Avangrid from a “c” rating to a “b-” rating in a research note on Monday, December 18th. Bank of America began coverage on shares of Avangrid in a research note on Tuesday, October 24th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Avangrid from $43.00 to $47.00 and gave the stock an “underweight” rating in a research note on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $48.63.

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About Avangrid

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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Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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