Avangrid Inc. (AGR) Shares Sold by Bank of New York Mellon Corp
Bank of New York Mellon Corp decreased its stake in shares of Avangrid Inc. (NYSE:AGR) by 4.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 145,875 shares of the company’s stock after selling 7,282 shares during the period. Bank of New York Mellon Corp’s holdings in Avangrid were worth $6,719,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Artemis Investment Management LLP acquired a new position in shares of Avangrid during the second quarter valued at about $16,867,000. WESPAC Advisors LLC boosted its position in shares of Avangrid by 19.9% in the second quarter. WESPAC Advisors LLC now owns 14,371 shares of the company’s stock valued at $662,000 after buying an additional 2,390 shares in the last quarter. MSI Financial Services Inc boosted its position in shares of Avangrid by 3.1% in the second quarter. MSI Financial Services Inc now owns 8,725 shares of the company’s stock valued at $402,000 after buying an additional 259 shares in the last quarter. Sigma Planning Corp boosted its position in shares of Avangrid by 6.8% in the second quarter. Sigma Planning Corp now owns 6,141 shares of the company’s stock valued at $283,000 after buying an additional 390 shares in the last quarter. Finally, Miller Howard Investments Inc. NY boosted its position in shares of Avangrid by 8.2% in the second quarter. Miller Howard Investments Inc. NY now owns 201,526 shares of the company’s stock valued at $9,282,000 after buying an additional 15,244 shares in the last quarter. 13.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Avangrid Inc. (NYSE:AGR) traded up 0.36% on Tuesday, hitting $41.98. 222,940 shares of the company’s stock traded hands. Avangrid Inc. has a 1-year low of $32.45 and a 1-year high of $46.74. The company has a market cap of $12.97 billion and a price-to-earnings ratio of 25.63. The firm’s 50-day moving average price is $42.91 and its 200 day moving average price is $42.02.
Avangrid (NYSE:AGR) last issued its earnings results on Monday, July 18th. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.11. Avangrid had a net margin of 8.74% and a return on equity of 3.07%. On average, equities research analysts expect that Avangrid Inc. will post $2.12 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be paid a $0.432 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.73 annualized dividend and a dividend yield of 4.12%.
Several equities analysts have recently issued reports on the stock. Guggenheim assumed coverage on shares of Avangrid in a research note on Thursday, September 8th. They issued a “neutral” rating on the stock. Zacks Investment Research cut shares of Avangrid from a “hold” rating to a “sell” rating in a research note on Thursday, July 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $41.00.
Avangrid Company Profile
Avangrid, Inc is a diversified energy and utility company with more than $30 billion in assets and operations in 25 states. The company operates regulated utilities and electricity generation through two primary lines of business. Avangrid Networks includes eight electric and natural gas utilities, serving approximately 3.1 million customers in New York and New England.
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