Kestra Investment Management LLC Acquires New Shares in Avangrid, Inc. (NYSE:AGR)

Kestra Investment Management LLC bought a new stake in Avangrid, Inc. (NYSE:AGR) during the third quarter, HoldingsChannel.com reports. The firm bought 15,455 shares of the utilities provider’s stock, valued at approximately $553,000.

Several other institutional investors have also recently bought and sold shares of AGR. Verition Fund Management LLC bought a new stake in shares of Avangrid during the 3rd quarter valued at approximately $2,082,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Avangrid by 14.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,447 shares of the utilities provider’s stock valued at $911,000 after buying an additional 3,137 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Avangrid by 353.0% during the third quarter. BNP Paribas Financial Markets now owns 110,163 shares of the utilities provider’s stock worth $3,943,000 after buying an additional 85,847 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Avangrid during the third quarter worth $25,000. Finally, FMR LLC increased its holdings in shares of Avangrid by 14.9% during the third quarter. FMR LLC now owns 14,456 shares of the utilities provider’s stock worth $517,000 after buying an additional 1,875 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Avangrid in a research report on Saturday. They set a “hold” rating on the stock.

Avangrid Stock Down 0.1 %

NYSE:AGR opened at $36.10 on Monday. Avangrid, Inc. has a one year low of $29.71 and a one year 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. The company has a market cap of $13.97 billion, a PE ratio of 12.41, a P/E/G ratio of 2.57 and a beta of 0.55. The firm’s 50 day simple moving average is $35.82 and its 200 day simple moving average is $35.72.

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 the consensus estimate of $0.33 by $0.22. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter last year, the firm earned $0.27 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, research analysts anticipate that Avangrid, Inc. will post 2.34 earnings per share for the current year.

Avangrid Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 4.88%. Avangrid’s dividend payout ratio (DPR) is presently 60.48%.

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.