DekaBank Deutsche Girozentrale Decreases Holdings in Avangrid, Inc. (NYSE:AGR)

DekaBank Deutsche Girozentrale lowered its position in Avangrid, Inc. (NYSE:AGR) by 72.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,221 shares of the utilities provider’s stock after selling 42,147 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Avangrid were worth $574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. grew its stake 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 valued at $366,000 after buying an additional 560 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in Avangrid by 1.7% during 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 during the period. Cowen AND Company LLC bought a new position in Avangrid during the 2nd quarter worth approximately $2,842,000. Quest Partners LLC increased its stake in Avangrid by 18,750.0% in the 2nd quarter. Quest Partners LLC now owns 6,786 shares of the utilities provider’s stock worth $241,000 after purchasing an additional 6,750 shares during the period. Finally, Rhumbline Advisers lifted its position in Avangrid by 6.5% in the second quarter. Rhumbline Advisers now owns 97,417 shares of the utilities provider’s stock valued at $3,461,000 after purchasing an additional 5,971 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors.

Avangrid Stock Performance

Avangrid stock opened at $35.76 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.44 and a debt-to-equity ratio of 0.49. The firm has a market cap of $13.84 billion, a P/E ratio of 15.48, 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 firm has a 50-day moving average of $35.73 and a 200-day moving average of $35.82.

Avangrid (NYSE:AGR) last released its quarterly earnings data 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. 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 last year, the business posted $0.21 EPS. The business’s revenue was up 21.2% on a year-over-year basis. Sell-side analysts expect that Avangrid, Inc. will post 2.24 EPS for the current year.

Avangrid Announces Dividend

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. This represents a $1.76 annualized dividend and a yield of 4.92%. The ex-dividend date is Friday, August 30th. Avangrid’s dividend payout ratio (DPR) is currently 76.19%.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Avangrid in a report on Thursday. They issued a “hold” rating on the stock.

Avangrid Company 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.