Evergreen Capital Management LLC Sells 5,330 Shares of Avangrid, Inc. (NYSE:AGR)

Evergreen Capital Management LLC reduced its stake in Avangrid, Inc. (NYSE:AGR) by 30.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 12,061 shares of the utilities provider’s stock after selling 5,330 shares during the quarter. Evergreen Capital Management LLC’s holdings in Avangrid were worth $434,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Clean Energy Transition LLP bought a new stake in Avangrid in the fourth quarter valued at $75,620,000. Norges Bank acquired a new position in Avangrid in the fourth quarter valued at about $30,303,000. Natixis grew its stake in Avangrid by 3,122.3% during the first quarter. Natixis now owns 166,432 shares of the utilities provider’s stock worth $6,065,000 after buying an additional 161,267 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Avangrid during the second quarter worth approximately $5,468,000. Finally, Hsbc Holdings PLC raised its stake in shares of Avangrid by 65.1% in the fourth quarter. Hsbc Holdings PLC now owns 373,093 shares of the utilities provider’s stock valued at $12,088,000 after acquiring an additional 147,108 shares during the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Avangrid in a research report on Friday. They set a “hold” rating on the stock.

Avangrid Stock Down 0.0 %

Shares of NYSE AGR opened at $35.75 on Friday. Avangrid, Inc. has a 12-month low of $27.46 and a 12-month high of $37.70. The firm’s 50-day simple moving average is $35.76 and its 200 day simple moving average is $35.87. The company has a quick ratio of 0.44, a current ratio of 0.52 and a debt-to-equity ratio of 0.49. The company has a market cap of $13.84 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 2.67 and a beta of 0.55.

Avangrid (NYSE:AGR) last announced its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.72 billion. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. Avangrid’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 earnings per share. On average, research analysts expect that Avangrid, Inc. will post 2.24 earnings per share for the current fiscal year.

Avangrid Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a yield of 4.92%. Avangrid’s payout ratio is 76.19%.

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.