Mackenzie Financial Corp Has $71.73 Million Stake in Avangrid, Inc. (NYSE:AGR)

Mackenzie Financial Corp reduced its holdings in Avangrid, Inc. (NYSE:AGR) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,018,914 shares of the utilities provider’s stock after selling 8,646 shares during the quarter. Mackenzie Financial Corp’s holdings in Avangrid were worth $71,732,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in AGR. Headlands Technologies LLC acquired a new stake in Avangrid in the 1st quarter valued at approximately $26,000. Bell Investment Advisors Inc grew its stake in shares of Avangrid by 163.9% in the first 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 last quarter. Central Pacific Bank Trust Division bought a new position in Avangrid during the first quarter worth $36,000. Toronto Dominion Bank acquired a new position in Avangrid during the 1st quarter valued at $41,000. Finally, Quent Capital LLC boosted its holdings in Avangrid by 31.0% in the 1st quarter. Quent Capital LLC now owns 1,486 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 352 shares during the period. 13.12% of the stock is currently owned by institutional investors.

Avangrid Stock Performance

AGR opened at $35.76 on Friday. The stock has a market cap of $13.84 billion, a PE ratio of 15.48, a P/E/G ratio of 2.67 and a beta of 0.55. Avangrid, Inc. has a 1 year low of $27.46 and a 1 year high of $37.70. The stock’s 50 day simple moving average is $35.76 and its 200-day simple moving average is $35.87. The company has a current ratio of 0.52, a quick ratio of 0.44 and a debt-to-equity ratio of 0.49.

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

Avangrid Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 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 4.92%. The ex-dividend date is Friday, August 30th. Avangrid’s payout ratio is 76.19%.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Avangrid in a report on Friday. 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.