Avangrid, Inc. (NYSE:AGR) Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC raised its holdings in Avangrid, Inc. (NYSE:AGR) by 26.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 297,474 shares of the utilities provider’s stock after purchasing an additional 61,574 shares during the quarter. Gabelli Funds LLC owned 0.08% of Avangrid worth $10,569,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Robeco Institutional Asset Management B.V. raised its holdings in Avangrid by 2,285.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 96,754 shares of the utilities provider’s stock valued at $31,000 after buying an additional 92,698 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Avangrid in the 1st quarter valued at approximately $1,598,000. QRG Capital Management Inc. lifted its holdings in shares of Avangrid by 225.0% in the 2nd quarter. QRG Capital Management Inc. now owns 33,050 shares of the utilities provider’s stock worth $1,174,000 after acquiring an additional 22,880 shares during the last quarter. Natixis boosted its position in shares of Avangrid by 3,122.3% during the 1st quarter. Natixis now owns 166,432 shares of the utilities provider’s stock worth $6,065,000 after purchasing an additional 161,267 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Avangrid in the first quarter valued at approximately $4,396,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Avangrid in a research note on Thursday, September 19th. They set a “hold” rating on the stock.

Avangrid Stock Performance

NYSE AGR opened at $35.82 on Tuesday. The company has a market cap of $13.86 billion, a P/E ratio of 15.51, a P/E/G ratio of 2.66 and a beta of 0.55. Avangrid, Inc. has a 1-year low of $27.46 and a 1-year high of $37.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.52 and a quick ratio of 0.44. The stock has a 50-day moving average of $35.74 and a two-hundred day moving average of $35.87.

Avangrid (NYSE:AGR) last announced its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.72 billion. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 EPS. As a group, analysts anticipate that Avangrid, Inc. will post 2.24 EPS for the current year.

Avangrid Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend is Friday, August 30th. Avangrid’s payout ratio is currently 76.19%.

Avangrid 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.