Royal London Asset Management Ltd. Purchases 471 Shares of Avangrid, Inc. (NYSE:AGR)

Royal London Asset Management Ltd. grew its position in Avangrid, Inc. (NYSE:AGR) by 1.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,005 shares of the utilities provider’s stock after acquiring an additional 471 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Avangrid were worth $995,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Quent Capital LLC lifted its position in shares of Avangrid by 31.0% in the 1st quarter. Quent Capital LLC now owns 1,486 shares of the utilities provider’s stock worth $54,000 after acquiring an additional 352 shares during the period. Signaturefd LLC lifted its position in shares of Avangrid by 2.6% in the 2nd quarter. Signaturefd LLC now owns 16,011 shares of the utilities provider’s stock worth $569,000 after acquiring an additional 399 shares during the period. Van ECK Associates Corp lifted its position in shares of Avangrid by 2.8% in the 2nd quarter. Van ECK Associates Corp now owns 18,305 shares of the utilities provider’s stock worth $650,000 after acquiring an additional 499 shares during the period. Bell Investment Advisors Inc lifted its position in shares of Avangrid by 163.9% in the 1st quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 536 shares during the period. Finally, Harrington Investments INC lifted its position in shares of Avangrid by 2.1% in the 1st quarter. Harrington Investments INC now owns 26,983 shares of the utilities provider’s stock worth $983,000 after acquiring an additional 557 shares during the period. Institutional investors own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Avangrid in a research report on Wednesday. They set a “hold” rating for the company.

Avangrid Price Performance

Avangrid stock opened at $35.88 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.52 and a quick ratio of 0.44. The company has a market capitalization of $13.89 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55. Avangrid, Inc. has a one year low of $27.46 and a one year high of $37.70. The business has a 50 day simple moving average of $35.70 and a 200 day simple moving average of $35.70.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. Avangrid had a return on equity of 4.87% and a net margin of 11.35%. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the firm posted $0.21 EPS. The business’s revenue was up 21.2% on a year-over-year basis. On average, sell-side analysts forecast that Avangrid, Inc. will post 2.24 EPS for the current fiscal year.

Avangrid Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a yield of 4.91%. Avangrid’s dividend payout ratio is 76.19%.

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.