Wellington Management Group LLP Has $1.37 Million Stake in Avangrid, Inc. (NYSE:AGR)

Wellington Management Group LLP lifted its position in shares of Avangrid, Inc. (NYSE:AGR) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,129 shares of the utilities provider’s stock after buying an additional 2,110 shares during the period. Wellington Management Group LLP’s holdings in Avangrid were worth $1,365,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Creative Planning boosted its position in Avangrid by 17.4% during the 3rd quarter. Creative Planning now owns 37,986 shares of the utilities provider’s stock worth $1,360,000 after acquiring an additional 5,618 shares during the last quarter. Kestra Investment Management LLC bought a new stake in Avangrid during the third quarter worth about $553,000. Royal London Asset Management Ltd. grew its stake in Avangrid by 276.5% in the third quarter. Royal London Asset Management Ltd. now owns 105,430 shares of the utilities provider’s stock valued at $3,773,000 after purchasing an additional 77,425 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Avangrid by 26.9% during 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 purchasing an additional 54,469 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Avangrid by 244.9% in the third quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock valued at $29,000 after buying an additional 573 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Avangrid in a research report on Monday. They issued a “hold” rating for the company.

Avangrid Stock Up 0.7 %

Avangrid stock opened at $35.73 on Friday. The company’s 50-day moving average price is $35.77 and its two-hundred day moving average price is $35.68. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.52. The stock has a market cap of $13.82 billion, a P/E ratio of 12.28, a P/E/G ratio of 2.54 and a beta of 0.56. Avangrid, Inc. has a twelve month low of $29.71 and a twelve month high of $37.70.

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

Avangrid Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.93%. The ex-dividend date is Monday, December 2nd. Avangrid’s dividend payout ratio (DPR) is 60.48%.

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.