Avangrid, Inc. (NYSE:AGR) Shares Sold by State Street Corp

State Street Corp lowered its position in shares of Avangrid, Inc. (NYSE:AGR) by 5.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,514,748 shares of the utilities provider’s stock after selling 87,767 shares during the quarter. State Street Corp owned about 0.39% of Avangrid worth $54,884,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in Avangrid in the 3rd quarter valued at $25,000. Blue Trust Inc. lifted its position in Avangrid by 244.9% during the 3rd quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 573 shares in the last quarter. Eastern Bank acquired a new stake in Avangrid in the third quarter valued at approximately $30,000. Quarry LP purchased a new stake in shares of Avangrid during the third quarter valued at approximately $47,000. Finally, Venturi Wealth Management LLC lifted its position in shares of Avangrid by 1,939.7% during the third quarter. Venturi Wealth Management LLC now owns 2,978 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 2,832 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Avangrid Trading Down 0.4 %

NYSE AGR opened at $35.49 on Thursday. The company’s fifty day moving average price is $35.77 and its two-hundred day moving average price is $35.68. The company has a market capitalization of $13.73 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56. Avangrid, Inc. has a 12 month low of $29.71 and a 12 month high of $37.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.51 and a quick ratio of 0.44.

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

Avangrid Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.96%. Avangrid’s payout ratio is currently 60.48%.

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.