Advisors Asset Management Inc. Trims Stock Position in Avangrid, Inc. (NYSE:AGR)

Advisors Asset Management Inc. cut its position in shares of Avangrid, Inc. (NYSE:AGR) by 21.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,393 shares of the utilities provider’s stock after selling 47,686 shares during the period. Advisors Asset Management Inc.’s holdings in Avangrid were worth $6,098,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AGR. Empower Advisory Group LLC increased its position in shares of Avangrid by 0.5% during the third quarter. Empower Advisory Group LLC now owns 363,399 shares of the utilities provider’s stock valued at $13,006,000 after acquiring an additional 1,983 shares during the last quarter. Gamco Investors INC. ET AL increased its position in shares of Avangrid by 2.1% during the first quarter. Gamco Investors INC. ET AL now owns 359,807 shares of the utilities provider’s stock valued at $13,111,000 after acquiring an additional 7,370 shares during the last quarter. Millennium Management LLC increased its position in shares of Avangrid by 34.7% during the second quarter. Millennium Management LLC now owns 308,134 shares of the utilities provider’s stock valued at $10,948,000 after acquiring an additional 79,463 shares during the last quarter. Gabelli Funds LLC increased its position in shares of Avangrid by 26.1% during the second quarter. Gabelli Funds LLC now owns 297,474 shares of the utilities provider’s stock valued at $10,569,000 after acquiring an additional 61,574 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Avangrid by 26.9% during the second quarter. Bank of New York Mellon Corp now owns 256,980 shares of the utilities provider’s stock valued at $9,130,000 after acquiring an additional 54,469 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Avangrid Trading Up 0.4 %

Shares of AGR stock opened at $36.21 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.44 and a current ratio of 0.51. The stock has a market capitalization of $14.01 billion, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 2.56 and a beta of 0.55. The company has a 50 day moving average price of $35.77 and a 200 day moving average price of $35.78. Avangrid, Inc. has a fifty-two week low of $29.71 and a fifty-two week high of $37.70.

Avangrid (NYSE:AGR) last announced its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.22. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. Equities research analysts predict that Avangrid, Inc. will post 2.34 EPS for the current fiscal year.

Avangrid Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.86%. The ex-dividend date is Monday, December 2nd. Avangrid’s dividend payout ratio (DPR) is presently 60.48%.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Avangrid in a research report on Friday. They set a “hold” rating for the company.

Avangrid Company 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.