Quadrature Capital Ltd Purchases New Holdings in Avangrid, Inc. (NYSE:AGR)

Quadrature Capital Ltd acquired a new position in shares of Avangrid, Inc. (NYSE:AGR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 20,621 shares of the utilities provider’s stock, valued at approximately $668,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Avangrid by 14.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 560,803 shares of the utilities provider’s stock worth $16,919,000 after purchasing an additional 71,441 shares during the period. PNC Financial Services Group Inc. increased its holdings in Avangrid by 26.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 8,858 shares of the utilities provider’s stock valued at $267,000 after buying an additional 1,843 shares during the period. QRG Capital Management Inc. acquired a new position in shares of Avangrid in the 3rd quarter valued at approximately $207,000. Aigen Investment Management LP lifted its holdings in shares of Avangrid by 124.3% during the 3rd quarter. Aigen Investment Management LP now owns 13,085 shares of the utilities provider’s stock worth $395,000 after acquiring an additional 7,251 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of Avangrid by 1.4% during the 3rd quarter. Hsbc Holdings PLC now owns 225,985 shares of the utilities provider’s stock worth $6,818,000 after acquiring an additional 3,172 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AGR. Janney Montgomery Scott reissued a “sell” rating and issued a $35.00 price target on shares of Avangrid in a research note on Friday, March 8th. Wells Fargo & Company raised their price target on shares of Avangrid from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd. Finally, StockNews.com assumed coverage on shares of Avangrid in a research note on Saturday, June 15th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $34.67.

Avangrid Stock Down 0.1 %

Shares of Avangrid stock opened at $35.24 on Friday. The stock’s 50-day moving average is $36.17 and its 200 day moving average is $34.10. Avangrid, Inc. has a one year low of $27.46 and a one year high of $39.13. The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 2.64 and a beta of 0.55. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.50.

Avangrid (NYSE:AGR) last posted its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Avangrid had a return on equity of 4.35% and a net margin of 10.80%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 EPS. Equities research analysts anticipate that Avangrid, Inc. will post 2.22 EPS for the current year.

Avangrid Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend is Monday, June 3rd. Avangrid’s dividend payout ratio (DPR) is currently 76.19%.

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.