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

Advisors Asset Management Inc. cut its holdings in Avangrid, Inc. (NYSE:AGR) by 21.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 reporting period.

Other large investors have also recently made changes to their positions in the company. Empower Advisory Group LLC grew its holdings in Avangrid by 0.5% during the 3rd quarter. Empower Advisory Group LLC now owns 363,399 shares of the utilities provider’s stock valued at $13,006,000 after purchasing an additional 1,983 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in 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 lifted its position in 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 lifted its position in 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 lifted its position in 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 currently owned by institutional investors.

Analyst Ratings Changes

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

Avangrid Stock Up 0.4 %

NYSE:AGR opened at $36.21 on Friday. The firm has a market capitalization of $14.01 billion, a P/E ratio of 12.44, a PEG ratio of 2.56 and a beta of 0.55. Avangrid, Inc. has a 1-year low of $29.71 and a 1-year high of $37.70. The company’s fifty day moving average price is $35.77 and its 200-day moving average price is $35.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.51 and a quick ratio of 0.44.

Avangrid (NYSE:AGR) last released its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.22. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates 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 prior year, the business earned $0.27 earnings per share. As a group, equities research analysts anticipate that Avangrid, Inc. will post 2.34 EPS for the current year.

Avangrid Dividend Announcement

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

About Avangrid

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.