Empower Advisory Group LLC Purchases 1,983 Shares of Avangrid, Inc. (NYSE:AGR)

Empower Advisory Group LLC increased its stake in Avangrid, Inc. (NYSE:AGR) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 363,399 shares of the utilities provider’s stock after acquiring an additional 1,983 shares during the quarter. Empower Advisory Group LLC’s holdings in Avangrid were worth $13,006,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. QRG Capital Management Inc. increased its stake in shares of Avangrid by 225.0% in the 2nd quarter. QRG Capital Management Inc. now owns 33,050 shares of the utilities provider’s stock valued at $1,174,000 after acquiring an additional 22,880 shares in the last quarter. Natixis increased its stake in shares of Avangrid by 3,122.3% in the 1st quarter. Natixis now owns 166,432 shares of the utilities provider’s stock valued at $6,065,000 after acquiring an additional 161,267 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Avangrid in the 1st quarter valued at $4,504,000. Creative Planning increased its stake in shares of Avangrid by 17.4% in the 3rd quarter. Creative Planning now owns 37,986 shares of the utilities provider’s stock valued at $1,360,000 after acquiring an additional 5,618 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Avangrid by 26.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 256,980 shares of the utilities provider’s stock valued at $9,130,000 after acquiring an additional 54,469 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Avangrid Stock Performance

Shares of AGR stock opened at $35.84 on Thursday. The firm has a market capitalization of $13.87 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 2.55 and a beta of 0.55. The firm has a fifty day simple moving average of $35.73 and a two-hundred day simple moving average of $35.79. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52. Avangrid, Inc. has a 12 month low of $29.71 and a 12 month high of $37.70.

Avangrid (NYSE:AGR) last announced its quarterly earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.22. The business had revenue of $2.08 billion during 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 quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.27 EPS. Analysts forecast that Avangrid, Inc. will post 2.34 EPS for the current fiscal year.

Avangrid Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date is Monday, December 2nd. Avangrid’s dividend payout ratio is 60.48%.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Avangrid in a research note on Thursday. They issued a “hold” rating for the company.

About Avangrid

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.