BNP Paribas Financial Markets Increases Stock Holdings in Avangrid, Inc. (NYSE:AGR)

BNP Paribas Financial Markets increased its stake in shares of Avangrid, Inc. (NYSE:AGR - Free Report) by 353.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 110,163 shares of the utilities provider's stock after purchasing an additional 85,847 shares during the period. BNP Paribas Financial Markets' holdings in Avangrid were worth $3,943,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AGR. Charles Schwab Investment Management Inc. raised its holdings in shares of Avangrid by 28.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 884,742 shares of the utilities provider's stock valued at $31,665,000 after acquiring an additional 197,841 shares during the last quarter. Empower Advisory Group LLC raised its stake in Avangrid by 0.5% in the 3rd quarter. Empower Advisory Group LLC now owns 363,399 shares of the utilities provider's stock valued at $13,006,000 after purchasing an additional 1,983 shares during the last quarter. Millennium Management LLC lifted its holdings in Avangrid by 34.7% in the 2nd quarter. Millennium Management LLC now owns 308,134 shares of the utilities provider's stock valued at $10,948,000 after purchasing an additional 79,463 shares in the last quarter. Gabelli Funds LLC lifted its holdings in Avangrid by 26.1% in the 2nd quarter. Gabelli Funds LLC now owns 297,474 shares of the utilities provider's stock valued at $10,569,000 after purchasing an additional 61,574 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Avangrid by 26.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 256,980 shares of the utilities provider's stock worth $9,130,000 after purchasing an additional 54,469 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Avangrid Price Performance

Shares of NYSE:AGR traded up $0.09 during midday trading on Thursday, hitting $35.58. The company had a trading volume of 422,823 shares, compared to its average volume of 762,264. Avangrid, Inc. has a twelve month low of $29.71 and a twelve month high of $37.70. The stock has a market cap of $13.77 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56. 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 business's 50-day simple moving average is $35.80 and its 200-day simple moving average is $35.71.

Avangrid (NYSE:AGR - Get Free Report) last posted its earnings results 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. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.04 billion. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. Avangrid's revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 EPS. On average, research analysts predict that Avangrid, Inc. will post 2.34 earnings per share for the current year.

Avangrid Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.95%. The ex-dividend date is Monday, December 2nd. Avangrid's dividend payout ratio (DPR) is presently 60.48%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Avangrid in a research report on Saturday, November 30th. They issued 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.