Royal London Asset Management Ltd. Buys 77,425 Shares of Avangrid, Inc. (NYSE:AGR)

Royal London Asset Management Ltd. increased its stake in Avangrid, Inc. (NYSE:AGR) by 276.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 105,430 shares of the utilities provider’s stock after acquiring an additional 77,425 shares during the period. Royal London Asset Management Ltd.’s holdings in Avangrid were worth $3,773,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC grew its holdings in shares of Avangrid by 1.8% during the 3rd quarter. Signaturefd LLC now owns 16,301 shares of the utilities provider’s stock worth $583,000 after acquiring an additional 290 shares during the period. CIBC Asset Management Inc boosted its position in shares of Avangrid by 4.2% during the third quarter. CIBC Asset Management Inc now owns 11,569 shares of the utilities provider’s stock valued at $414,000 after purchasing an additional 471 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Avangrid by 2.8% during the second quarter. Van ECK Associates Corp now owns 18,305 shares of the utilities provider’s stock valued at $650,000 after purchasing an additional 499 shares in the last quarter. American Century Companies Inc. grew its stake in Avangrid by 5.7% in the second quarter. American Century Companies Inc. now owns 10,303 shares of the utilities provider’s stock worth $366,000 after purchasing an additional 560 shares during the period. Finally, Blue Trust Inc. raised its holdings in Avangrid by 244.9% in the third quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 573 shares in the last quarter. 13.12% of the stock is currently owned by hedge funds and other institutional investors.

Avangrid Stock Performance

Shares of AGR opened at $35.55 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.52. The stock has a market cap of $13.75 billion, a P/E ratio of 12.22, a P/E/G ratio of 2.53 and a beta of 0.56. The business’s 50 day moving average price is $35.80 and its 200-day moving average price is $35.70. Avangrid, Inc. has a 52 week low of $29.71 and a 52 week high of $37.70.

Avangrid (NYSE:AGR) last released its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.33 by $0.22. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts anticipate that Avangrid, Inc. will post 2.34 earnings per share for the current fiscal year.

Avangrid Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.44 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.76 annualized dividend and a yield of 4.95%. Avangrid’s payout ratio is 60.48%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Avangrid in a report on Sunday. They set a “hold” rating on the stock.

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.