Zurcher Kantonalbank Zurich Cantonalbank Acquires 3,137 Shares of Avangrid, Inc. (NYSE:AGR)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Avangrid, Inc. (NYSE:AGR) by 14.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 25,447 shares of the utilities provider’s stock after acquiring an additional 3,137 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Avangrid were worth $911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in Avangrid by 28.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 884,742 shares of the utilities provider’s stock worth $31,665,000 after acquiring an additional 197,841 shares in the last quarter. Empower Advisory Group LLC increased its stake in shares of Avangrid by 0.5% in the third quarter. Empower Advisory Group LLC now owns 363,399 shares of the utilities provider’s stock worth $13,006,000 after purchasing an additional 1,983 shares in the last quarter. Millennium Management LLC raised its position in shares of Avangrid by 34.7% during the 2nd quarter. Millennium Management LLC now owns 308,134 shares of the utilities provider’s stock valued at $10,948,000 after purchasing an additional 79,463 shares during the period. Gabelli Funds LLC lifted its stake in shares of Avangrid by 26.1% during the 2nd quarter. Gabelli Funds LLC now owns 297,474 shares of the utilities provider’s stock valued at $10,569,000 after buying an additional 61,574 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Avangrid by 26.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 256,980 shares of the utilities provider’s stock worth $9,130,000 after buying an additional 54,469 shares during the period. Institutional investors own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Avangrid in a report on Saturday, November 30th. They set a “hold” rating on the stock.

Avangrid Price Performance

AGR stock opened at $35.55 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.44 and a current ratio of 0.51. The company’s fifty day moving average price is $35.80 and its 200-day moving average price is $35.71. Avangrid, Inc. has a one year low of $29.71 and a one year high of $37.70. The company has a market capitalization of $13.75 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56.

Avangrid (NYSE:AGR) last announced its quarterly 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 company had revenue of $2.08 billion for 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%. Avangrid’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 EPS. On average, equities analysts anticipate that Avangrid, Inc. will post 2.34 EPS for the current fiscal year.

Avangrid Announces Dividend

The company also recently declared 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. This represents a $1.76 annualized dividend and a yield of 4.95%. The ex-dividend date is Monday, December 2nd. Avangrid’s dividend payout ratio is presently 60.48%.

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.