Quarry LP Takes $47,000 Position in Avangrid, Inc. (NYSE:AGR)

Quarry LP acquired a new position in shares of Avangrid, Inc. (NYSE:AGR) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,308 shares of the utilities provider’s stock, valued at approximately $47,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new position in shares of Avangrid during the third quarter worth $25,000. Blue Trust Inc. lifted its stake in Avangrid by 244.9% during the 3rd quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 573 shares in the last quarter. Eastern Bank purchased a new position in Avangrid during the 3rd quarter valued at about $30,000. Venturi Wealth Management LLC grew its holdings in shares of Avangrid by 1,939.7% in the third quarter. Venturi Wealth Management LLC now owns 2,978 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 2,832 shares in the last quarter. Finally, CWM LLC lifted its holdings in Avangrid by 41.2% during the 2nd quarter. CWM LLC now owns 4,537 shares of the utilities provider’s stock worth $161,000 after buying an additional 1,323 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Avangrid in a research note on Sunday. They issued a “hold” rating for the company.

Avangrid Stock Down 0.0 %

Shares of NYSE:AGR opened at $35.54 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. Avangrid, Inc. has a fifty-two week low of $29.71 and a fifty-two week high of $37.70. The stock has a market cap of $13.75 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 2.53 and a beta of 0.56. The firm’s 50 day moving average price is $35.79 and its 200 day moving average price is $35.70.

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

Avangrid Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.44 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.95%. Avangrid’s payout ratio is currently 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.