Harvest Portfolios Group Inc. Grows Holdings in Avangrid, Inc. (NYSE:AGR)

Harvest Portfolios Group Inc. raised its position in Avangrid, Inc. (NYSE:AGR) by 8.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 151,820 shares of the utilities provider’s stock after purchasing an additional 11,667 shares during the period. Harvest Portfolios Group Inc.’s holdings in Avangrid were worth $5,434,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in Avangrid during the first quarter valued at about $26,000. Blue Trust Inc. boosted its stake in 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 acquiring an additional 573 shares during the last quarter. Eastern Bank bought a new position in shares of Avangrid during the 3rd quarter valued at approximately $30,000. Bell Investment Advisors Inc increased its stake in shares of Avangrid by 163.9% during the 1st quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 536 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Avangrid during the 1st quarter worth approximately $36,000. Institutional investors own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Avangrid in a research note on Wednesday. They issued a “hold” rating on the stock.

Avangrid Price Performance

NYSE AGR opened at $35.62 on Wednesday. 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 company has a market cap of $13.78 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 2.53 and a beta of 0.55. Avangrid, Inc. has a 52 week low of $29.33 and a 52 week high of $37.70. The firm’s 50-day simple moving average is $35.73 and its two-hundred day simple moving average is $35.83.

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

Avangrid Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Monday, December 2nd. Avangrid’s dividend payout ratio (DPR) is presently 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.