Skandinaviska Enskilda Banken AB publ Takes $1.78 Million Position in Avangrid, Inc. (NYSE:AGR)

Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Avangrid, Inc. (NYSE:AGR) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 50,200 shares of the utilities provider’s stock, valued at approximately $1,784,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in shares of Avangrid in the first quarter valued at approximately $26,000. Bell Investment Advisors Inc lifted its stake in shares of Avangrid by 163.9% during the 1st quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 536 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Avangrid during the first quarter worth $36,000. Toronto Dominion Bank purchased a new stake in shares of Avangrid in the first quarter valued at $41,000. Finally, Quent Capital LLC increased its stake in Avangrid by 31.0% in the first quarter. Quent Capital LLC now owns 1,486 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 352 shares during the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Avangrid Trading Up 0.2 %

AGR stock opened at $35.82 on Tuesday. The company has a quick ratio of 0.44, a current ratio of 0.52 and a debt-to-equity ratio of 0.49. The company has a market cap of $13.86 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 2.66 and a beta of 0.55. The business has a fifty day simple moving average of $35.74 and a 200-day simple moving average of $35.87. Avangrid, Inc. has a 52 week low of $27.46 and a 52 week high of $37.70.

Avangrid (NYSE:AGR) last issued its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. Avangrid had a return on equity of 4.87% and a net margin of 11.35%. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the business earned $0.21 EPS. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. On average, equities research analysts expect that Avangrid, Inc. will post 2.24 EPS for the current year.

Avangrid Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.