Bank of Montreal Can Has $619,000 Stake in Avangrid, Inc. (NYSE:AGR)

Bank of Montreal Can cut its stake in Avangrid, Inc. (NYSE:AGR) by 18.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,414 shares of the utilities provider’s stock after selling 4,012 shares during the quarter. Bank of Montreal Can’s holdings in Avangrid were worth $619,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Natixis lifted its holdings 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 acquiring an additional 161,267 shares during the period. Versor Investments LP acquired a new position in Avangrid in the second quarter valued at approximately $5,468,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Avangrid during the first quarter worth $4,504,000. Susquehanna Fundamental Investments LLC bought a new stake in Avangrid in the 1st quarter valued at about $4,396,000. Finally, Renaissance Technologies LLC grew its position in Avangrid by 466.5% in the 2nd quarter. Renaissance Technologies LLC now owns 135,400 shares of the utilities provider’s stock valued at $4,811,000 after purchasing an additional 111,500 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Avangrid in a research note on Saturday. They issued a “hold” rating for the company.

Avangrid Trading Down 0.1 %

Shares of Avangrid stock opened at $35.72 on Wednesday. The stock’s 50-day simple moving average is $35.79 and its 200 day simple moving average is $35.87. Avangrid, Inc. has a 52-week low of $28.75 and a 52-week high of $37.70. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.44 and a current ratio of 0.52. The stock has a market capitalization of $13.82 billion, a P/E ratio of 15.46, a P/E/G ratio of 2.67 and a beta of 0.55.

Avangrid (NYSE:AGR) last released its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.72 billion. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. Avangrid’s revenue was up 21.2% compared to the same quarter last year. During the same period last year, the business earned $0.21 earnings per share. As a group, research analysts anticipate that Avangrid, Inc. will post 2.24 EPS for the current year.

Avangrid Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.44 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.76 annualized dividend and a yield of 4.93%. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

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.