Avangrid, Inc. (NYSE:AGR) Stake Cut by Amalgamated Bank

Amalgamated Bank reduced its stake in Avangrid, Inc. (NYSE:AGR) by 54.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,813 shares of the utilities provider’s stock after selling 4,476 shares during the period. Amalgamated Bank’s holdings in Avangrid were worth $136,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its position in Avangrid by 1.8% in the 3rd quarter. Signaturefd LLC now owns 16,301 shares of the utilities provider’s stock valued at $583,000 after acquiring an additional 290 shares during the period. Royal London Asset Management Ltd. lifted its position in shares of Avangrid by 1.7% in the 2nd quarter. Royal London Asset Management Ltd. now owns 28,005 shares of the utilities provider’s stock valued at $995,000 after acquiring an additional 471 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Avangrid by 2.8% in the second quarter. Van ECK Associates Corp now owns 18,305 shares of the utilities provider’s stock worth $650,000 after buying an additional 499 shares during the period. American Century Companies Inc. boosted its holdings in shares of Avangrid by 5.7% during the second quarter. American Century Companies Inc. now owns 10,303 shares of the utilities provider’s stock worth $366,000 after purchasing an additional 560 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Avangrid by 244.9% during the 3rd quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 573 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors.

Avangrid Stock Up 0.6 %

Shares of AGR stock opened at $35.97 on Monday. Avangrid, Inc. has a twelve month low of $29.71 and a twelve month high of $37.70. The stock’s 50 day simple moving average is $35.75 and its 200 day simple moving average is $35.78. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.44 and a current ratio of 0.51. The company has a market capitalization of $13.92 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 2.56 and a beta of 0.55.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.22. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 earnings per share. As a group, research analysts predict that Avangrid, Inc. will post 2.34 EPS for the current year.

Avangrid Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid’s dividend payout ratio (DPR) is presently 60.48%.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Avangrid in a research note on Thursday. They set a “hold” rating for the company.

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.