AE Wealth Management LLC, a prominent financial company, recently made a strategic investment by acquiring a new stake in Avangrid, Inc. (NYSE:AGR). This acquisition was made during the second quarter and was disclosed in AE Wealth Management LLC’s recent 13F filing with the Securities & Exchange Commission. The firm purchased 92,477 shares of Avangrid’s stock, valued at around $3,485,000.
Avangrid is a leading utilities provider that operates in multiple states across the United States. With their diversified portfolio of renewable energy assets and extensive grid infrastructure, they play a significant role in providing reliable and sustainable energy solutions to millions of customers.
In addition to this investment venture, Avangrid also recently declared its quarterly dividend. Shareholders of record on September 1st will receive a dividend payment amounting to $0.44 per share on October 2nd. This translates to an annualized dividend of $1.76 and yields an attractive rate of 5.27%. It is important to note that shareholders who do not hold shares by the ex-dividend date on August 31st will not be eligible for this payout.
Investors may find it noteworthy that Avangrid’s current dividend payout ratio (DPR) stands at approximately 117.33%. The DPR represents the proportion of earnings paid out as dividends to shareholders. While a payout ratio exceeding 100% may initially raise concerns about sustainability, it should be evaluated alongside other financial indicators and management strategies employed by the company.
Avangrid’s commitment to delivering value to its shareholders through regular dividend payments highlights its dedication to balancing growth opportunities while rewarding investors with a consistent return on their investments.
Investors interested in Avangrid can gain further insight into the company’s operations and outlook through comprehensive analysis available from reputed financial sources.
Please note that this article references information as of September 22, 2023. It is recommended to consult the latest news updates and financial reports for the most up-to-date information.
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Significant Changes in Holdings and Ratings Spark Speculation for Avangrid’s Future Performance
In recent months, several large investors have made significant changes to their holdings of Avangrid (NYSE:AGR), raising questions about the future trajectory of this utilities provider. One notable investor, Global Retirement Partners LLC, has seen its holdings in Avangrid grow by a staggering 480.5% during the first quarter of this year alone. With an additional 543 shares purchased, Global Retirement Partners now owns a total of 656 shares with an estimated worth of $26,000.
Similarly, another investor called Quent Capital LLC has also experienced significant growth in its holdings of Avangrid. Their stake in the company grew by 167.1% during the first quarter, adding an extra 590 shares to their portfolio. This increase brings Quent Capital’s total ownership to 943 shares valued at approximately $38,000.
MetLife Investment Management LLC has taken a different approach by acquiring a new position in Avangrid during the same period with over $53,000 invested. Similarly, State of Wyoming recently acquired a stake in Avangrid valued at around $61,000 during the fourth quarter of last year.
Northwestern Mutual Wealth Management Co. raised its position in Avangrid even higher with an impressive increase of 27.5% during the fourth quarter as well. With an added purchase of 600 shares, Northwestern Mutual Wealth Management now owns 2,779 shares worth approximately $119,000.
It is noteworthy that institutional investors and hedge funds collectively own around 12.93% of Avangrid’s stock value on average.
Avangrid has attracted attention from various research analysts who have closely monitored its performance and offered valuable insights into the valuation and potential future growth prospects for the company. StockNews.com recently upgraded Avangrid from a “sell” rating to a “hold” rating based on their comprehensive research report released only days ago.
In contrast to this positive outlook, Mizuho, a research and financial services provider, has slightly reduced their price target for Avangrid from $39.00 to $37.00 in their most recent research note. KeyCorp, however, seems to have a more optimistic view on the company’s prospects as they upgraded Avangrid from an “underweight” rating to a “sector weight” rating.
Bank of America has chosen to boost their price target on Avangrid’s shares from $34.00 to $35.00, further indicating a cautiously optimistic stance towards the company’s performance in the coming months. In contrast, TheStreet lowered Avangrid’s rating from “b-” to “c,” implying some concerns about its future performance.
Altogether, analysts presently give Avangrid a consensus rating of “Hold” and maintain an average price target of $37.75 for the stock.
At present, Avangrid stocks opened at $33.42 on September 22, 2023. Although the stock has experienced minor fluctuations recently, its 50-day moving average stands at $35.53 while its 200-day moving average lingers around $37.80.
As for the company’s financial indicators, it holds a debt-to-equity ratio of 0.41 and quick and current ratios of 0.49 and 0.59 respectively.
Furthermore, Avangrid has displayed a fifty-two week low of $33.37 and a fifty-two week high of $48.98 alongside a market capitalization standing at approximately $12.93 billion.
The last earnings report released by Avangrid was on July 27th where they reported earnings per share of $0.21 for the quarter – falling short of analysts’ consensus estimate of $0.50 by ($0.29). The company had a return on equity of 2.94% with a net margin reaching 7.23%. Quarterly revenue amounted to $1.59 billion, falling short of analysts’ expectations of $1.83 billion. In a year-over-year comparison, the firm experienced a decrease in quarterly revenue of 11.5%. Analysts’ estimates predict that Avangrid will post EPS of 2.09 for the current fiscal year.
The recent changes in holdings and ratings by notable investors and research analysts have generated considerable interest and speculation within the financial community about the potential future performance of Avangrid’s stocks. As the market eagerly anticipates further developments, it remains to be seen how these factors will shape the company’s valuation and investor sentiment moving forward.