Advisors Asset Management Inc. lessened its position in shares of Avangrid, Inc. (NYSE:AGR – Get Rating) by 48.6% in the second quarter, Holdings Channel.com reports. The firm owned 8,886 shares of the utilities provider’s stock after selling 8,408 shares during the period. Advisors Asset Management Inc.’s holdings in Avangrid were worth $410,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in Avangrid by 385.0% during the 2nd quarter. CWM LLC now owns 645 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 512 shares in the last quarter. GW&K Investment Management LLC acquired a new position in shares of Avangrid during the 1st quarter worth about $42,000. MetLife Investment Management LLC acquired a new position in shares of Avangrid during the 1st quarter worth about $53,000. M&T Bank Corp acquired a new position in shares of Avangrid during the 2nd quarter worth about $87,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Avangrid by 15.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,162 shares of the utilities provider’s stock worth $101,000 after buying an additional 296 shares during the last quarter. Institutional investors own 12.49% of the company’s stock.
Avangrid Trading Up 3.0 %
Shares of NYSE:AGR opened at $41.70 on Friday. Avangrid, Inc. has a 52-week low of $37.64 and a 52-week high of $52.51. The company has a market capitalization of $16.12 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 2.99 and a beta of 0.39. The company has a 50-day simple moving average of $42.36 and a 200 day simple moving average of $45.53. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.61 and a current ratio of 0.74.
Avangrid Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 1st will be given a dividend of $0.44 per share. The ex-dividend date is Wednesday, November 30th. This represents a $1.76 annualized dividend and a yield of 4.22%. Avangrid’s dividend payout ratio (DPR) is presently 75.86%.
Wall Street Analyst Weigh In
AGR has been the subject of a number of recent research reports. StockNews.com downgraded shares of Avangrid from a “buy” rating to a “hold” rating in a research note on Wednesday, October 26th. Wells Fargo & Company reduced their price objective on shares of Avangrid from $52.00 to $45.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 19th. Mizuho increased their price objective on shares of Avangrid from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, October 31st. KeyCorp cut their target price on shares of Avangrid from $41.00 to $35.00 and set an “underweight” rating for the company in a research note on Thursday, October 20th. Finally, TheStreet upgraded shares of Avangrid from a “c+” rating to a “b” rating in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $45.20.
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.
- Get a free copy of the StockNews.com research report on Avangrid (AGR)
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