Avangrid Inc (AGR) Position Decreased by Nomura Asset Management Co. Ltd.
Nomura Asset Management Co. Ltd. decreased its stake in Avangrid Inc (NYSE:AGR) by 6.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,190 shares of the utilities provider’s stock after selling 2,800 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Avangrid were worth $2,048,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in AGR. Wells Fargo & Company MN boosted its position in shares of Avangrid by 255.3% in the 3rd quarter. Wells Fargo & Company MN now owns 689,384 shares of the utilities provider’s stock valued at $32,692,000 after purchasing an additional 495,371 shares during the period. Vanguard Group Inc. boosted its position in Avangrid by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,324,114 shares of the utilities provider’s stock worth $235,061,000 after acquiring an additional 181,812 shares during the period. Trillium Asset Management LLC acquired a new stake in Avangrid during the 2nd quarter worth about $7,231,000. Arrowstreet Capital Limited Partnership boosted its position in Avangrid by 81.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 312,598 shares of the utilities provider’s stock worth $13,801,000 after acquiring an additional 139,914 shares during the period. Finally, Baillie Gifford & Co. boosted its position in Avangrid by 34.8% during the 3rd quarter. Baillie Gifford & Co. now owns 482,360 shares of the utilities provider’s stock worth $22,874,000 after acquiring an additional 124,571 shares during the period. Institutional investors and hedge funds own 13.83% of the company’s stock.
Shares of Avangrid Inc (NYSE AGR) opened at $51.19 on Wednesday. Avangrid Inc has a one year low of $35.89 and a one year high of $53.46. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.56 and a current ratio of 0.69. The firm has a market capitalization of $16,228.96, a PE ratio of 23.24, a PEG ratio of 2.87 and a beta of 0.55.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be paid a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Friday, December 8th. Avangrid’s dividend payout ratio (DPR) is presently 80.47%.
A number of equities research analysts have commented on the company. Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Wells Fargo & Company lowered Avangrid from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 1st. Bank of America assumed coverage on Avangrid in a research report on Tuesday, October 24th. They set a “buy” rating and a $52.00 price objective for the company. Finally, J P Morgan Chase & Co raised their price objective on Avangrid from $43.00 to $47.00 and gave the stock an “underweight” rating in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.50.
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Avangrid Company Profile
Avangrid, Inc is an energy and utility company. The Company operates through three segments: Networks, Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities, and any other regulated activity originating in New York and Maine, and regulated electric distribution, electric transmission and gas distribution activities originating in Connecticut and Massachusetts.
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