BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 7,921 Shares of Avangrid, Inc. (NYSE:AGR)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its stake in Avangrid, Inc. (NYSE:AGR) by 6.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,690 shares of the utilities provider’s stock after selling 7,921 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Avangrid were worth $4,110,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new stake in Avangrid in the 4th quarter valued at about $1,583,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Avangrid by 8.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 608,977 shares of the utilities provider’s stock valued at $19,737,000 after acquiring an additional 48,174 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in shares of Avangrid during the fourth quarter worth approximately $430,000. BNP Paribas Financial Markets lifted its holdings in shares of Avangrid by 18.0% in the 4th quarter. BNP Paribas Financial Markets now owns 97,070 shares of the utilities provider’s stock worth $3,146,000 after purchasing an additional 14,809 shares in the last quarter. Finally, Jump Financial LLC increased its stake in Avangrid by 134.0% during the 4th quarter. Jump Financial LLC now owns 119,198 shares of the utilities provider’s stock valued at $3,863,000 after purchasing an additional 68,268 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Avangrid in a research note on Monday, August 26th. They issued a “hold” rating on the stock.

Avangrid Stock Up 0.4 %

Shares of NYSE:AGR opened at $35.69 on Friday. The business’s 50 day moving average is $35.63 and its 200 day moving average is $35.37. Avangrid, Inc. has a 12-month low of $27.46 and a 12-month high of $37.70. The stock has a market cap of $13.81 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 2.69 and a beta of 0.55. The company has a quick ratio of 0.44, a current ratio of 0.52 and a debt-to-equity ratio of 0.49.

Avangrid (NYSE:AGR) last posted its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.72 billion. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 EPS. On average, sell-side analysts forecast that Avangrid, Inc. will post 2.23 earnings per share for the current fiscal year.

Avangrid Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 annualized dividend and a dividend yield of 4.93%. Avangrid’s dividend payout ratio is currently 76.19%.

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.