Advisors Asset Management Inc. Sells 8,408 Shares of Avangrid, Inc. (NYSE:AGR)

Advisors Asset Management Inc. lessened its position in shares of Avangrid, Inc. (NYSE:AGRGet 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 (NYSE:AGRGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.01). The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.73 billion. Avangrid had a return on equity of 4.56% and a net margin of 11.66%. During the same quarter last year, the business earned $0.34 earnings per share. Sell-side analysts forecast that Avangrid, Inc. will post 2.3 earnings per share for the current year.

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.

About Avangrid

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding AGR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avangrid, Inc. (NYSE:AGRGet Rating).

Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

Receive News & Ratings for Avangrid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avangrid and related companies with MarketBeat.com's FREE daily email newsletter.