Gamco Investors INC. ET AL Boosts Stock Position in Avangrid, Inc. (NYSE:AGR)

Gamco Investors INC. ET AL increased its stake in shares of Avangrid, Inc. (NYSE:AGR) by 2.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 359,807 shares of the utilities provider’s stock after buying an additional 7,370 shares during the quarter. Gamco Investors INC. ET AL owned about 0.09% of Avangrid worth $13,111,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in shares of Avangrid during the 1st quarter worth $26,000. Robeco Institutional Asset Management B.V. raised its stake in Avangrid by 2,285.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 96,754 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 92,698 shares during the period. Bell Investment Advisors Inc boosted its holdings in Avangrid by 163.9% in the 1st quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 536 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Avangrid in the first quarter valued at approximately $36,000. Finally, Toronto Dominion Bank purchased a new position in shares of Avangrid during the 1st quarter worth $41,000. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Avangrid Stock Down 0.1 %

NYSE AGR traded down $0.02 during trading hours on Friday, hitting $35.50. 798,259 shares of the company were exchanged, compared to its average volume of 766,164. The company has a 50 day moving average of $35.54 and a two-hundred day moving average of $34.57. The company has a quick ratio of 0.50, a current ratio of 0.52 and a debt-to-equity ratio of 0.49. The firm has a market cap of $13.74 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 2.67 and a beta of 0.55. Avangrid, Inc. has a 52-week low of $27.46 and a 52-week high of $38.71.

Avangrid (NYSE:AGR) last issued its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the company earned $0.21 earnings per share. The firm’s revenue was up 21.2% compared to the same quarter last year. Equities research analysts anticipate that Avangrid, Inc. will post 2.22 earnings per share for the current year.

Avangrid Dividend Announcement

The firm also recently announced 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 4.96%. The ex-dividend date is Friday, August 30th. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Avangrid in a research note on Thursday. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, Avangrid presently has an average rating of “Hold” and an average target price of $34.67.

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.