Amalgamated Bank Sells 4,476 Shares of Avangrid, Inc. (NYSE:AGR)

Amalgamated Bank reduced its position in Avangrid, Inc. (NYSE:AGR) by 54.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,813 shares of the utilities provider’s stock after selling 4,476 shares during the period. Amalgamated Bank’s holdings in Avangrid were worth $136,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. QRG Capital Management Inc. increased its position in shares of Avangrid by 56.0% in the 3rd quarter. QRG Capital Management Inc. now owns 51,568 shares of the utilities provider’s stock valued at $1,846,000 after buying an additional 18,518 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Avangrid by 13.2% during the 3rd quarter. Van ECK Associates Corp now owns 20,727 shares of the utilities provider’s stock worth $742,000 after acquiring an additional 2,422 shares in the last quarter. FCG Investment Co lifted its position in shares of Avangrid by 7.8% in the third quarter. FCG Investment Co now owns 22,764 shares of the utilities provider’s stock worth $815,000 after purchasing an additional 1,645 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Avangrid by 4.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 13,724 shares of the utilities provider’s stock worth $491,000 after purchasing an additional 647 shares during the last quarter. Finally, Eastern Bank bought a new position in Avangrid in the third quarter valued at $30,000. 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 Thursday. They set a “hold” rating for the company.

Avangrid Stock Up 0.6 %

NYSE AGR opened at $35.97 on Monday. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52. The company has a market cap of $13.92 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 2.56 and a beta of 0.55. The company has a 50 day moving average of $35.75 and a 200-day moving average of $35.78. Avangrid, Inc. has a 1-year low of $29.71 and a 1-year high of $37.70.

Avangrid (NYSE:AGR) last issued its quarterly earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.22. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.04 billion. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 EPS. On average, equities research analysts expect that Avangrid, Inc. will post 2.34 earnings per share for the current fiscal year.

Avangrid Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.89%. The ex-dividend date is Monday, December 2nd. Avangrid’s payout ratio is 60.48%.

About Avangrid

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.