Wellington Management Group LLP Buys 2,110 Shares of Avangrid, Inc. (NYSE:AGR)

Wellington Management Group LLP lifted its stake in Avangrid, Inc. (NYSE:AGR) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,129 shares of the utilities provider’s stock after purchasing an additional 2,110 shares during the period. Wellington Management Group LLP’s holdings in Avangrid were worth $1,365,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AGR. Signaturefd LLC boosted its stake in shares of Avangrid by 1.8% in the 3rd quarter. Signaturefd LLC now owns 16,301 shares of the utilities provider’s stock valued at $583,000 after purchasing an additional 290 shares during the last quarter. Royal London Asset Management Ltd. boosted its stake in Avangrid by 1.7% in the second quarter. Royal London Asset Management Ltd. now owns 28,005 shares of the utilities provider’s stock valued at $995,000 after acquiring an additional 471 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Avangrid by 4.2% during the 3rd quarter. CIBC Asset Management Inc now owns 11,569 shares of the utilities provider’s stock worth $414,000 after acquiring an additional 471 shares during the period. Van ECK Associates Corp raised its position in shares of Avangrid by 2.8% during the 2nd quarter. Van ECK Associates Corp now owns 18,305 shares of the utilities provider’s stock valued at $650,000 after acquiring an additional 499 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Avangrid by 5.7% in the 2nd quarter. American Century Companies Inc. now owns 10,303 shares of the utilities provider’s stock valued at $366,000 after purchasing an additional 560 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Avangrid in a report on Monday. They issued a “hold” rating for the company.

Avangrid Price Performance

Shares of AGR stock opened at $35.73 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.51 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. The firm has a fifty day moving average of $35.77 and a 200-day moving average of $35.68. The firm has a market capitalization of $13.82 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56.

Avangrid (NYSE:AGR) last posted its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.22. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 earnings per share. On average, equities research analysts forecast 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 issued a dividend of $0.44 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.76 annualized dividend and a yield of 4.93%. Avangrid’s dividend payout ratio (DPR) is currently 60.48%.

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.