Kestra Investment Management LLC Takes Position in Avangrid, Inc. (NYSE:AGR)

Kestra Investment Management LLC acquired a new stake in shares of Avangrid, Inc. (NYSE:AGR - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 15,455 shares of the utilities provider's stock, valued at approximately $553,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Verition Fund Management LLC acquired a new stake in shares of Avangrid in the 3rd quarter valued at $2,082,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Avangrid by 14.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,447 shares of the utilities provider's stock worth $911,000 after buying an additional 3,137 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Avangrid by 353.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 110,163 shares of the utilities provider's stock worth $3,943,000 after acquiring an additional 85,847 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Avangrid during the 3rd quarter valued at about $25,000. Finally, FMR LLC raised its stake in shares of Avangrid by 14.9% in the 3rd quarter. FMR LLC now owns 14,456 shares of the utilities provider's stock valued at $517,000 after acquiring an additional 1,875 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Avangrid Stock Performance

AGR traded down $0.03 during midday trading on Monday, reaching $35.63. The company's stock had a trading volume of 299,481 shares, compared to its average volume of 763,298. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52. The company has a fifty day simple moving average of $35.82 and a 200 day simple moving average of $35.72. The stock has a market cap of $13.79 billion, a P/E ratio of 12.41, a PEG ratio of 2.57 and a beta of 0.55. Avangrid, Inc. has a twelve month low of $29.71 and a twelve month high of $37.70.

Avangrid (NYSE:AGR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.22. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.04 billion. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. Avangrid's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $0.27 earnings per share. Research analysts expect that Avangrid, Inc. will post 2.34 earnings per share for the current year.

Avangrid Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.76 annualized dividend and a yield of 4.94%. Avangrid's dividend payout ratio is 60.48%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Avangrid in a report on Saturday. They set 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.