Versor Investments LP Decreases Stake in Avangrid, Inc. (NYSE:AGR)

Versor Investments LP lessened its stake in shares of Avangrid, Inc. (NYSE:AGR - Free Report) by 15.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 130,298 shares of the utilities provider's stock after selling 23,609 shares during the period. Avangrid accounts for approximately 0.7% of Versor Investments LP's investment portfolio, making the stock its 11th biggest position. Versor Investments LP's holdings in Avangrid were worth $4,663,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AGR. QRG Capital Management Inc. boosted its holdings in shares of Avangrid by 225.0% during the 2nd quarter. QRG Capital Management Inc. now owns 33,050 shares of the utilities provider's stock worth $1,174,000 after purchasing an additional 22,880 shares during the last quarter. Natixis boosted 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Avangrid in the 1st quarter valued at $4,504,000. Creative Planning increased its stake in shares of Avangrid by 17.4% in the 3rd quarter. Creative Planning now owns 37,986 shares of the utilities provider's stock worth $1,360,000 after acquiring an additional 5,618 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Avangrid by 26.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 256,980 shares of the utilities provider's stock worth $9,130,000 after acquiring an additional 54,469 shares during the period. 13.12% of the stock is owned by hedge funds and other institutional investors.

Avangrid Trading Down 0.1 %

Shares of NYSE:AGR traded down $0.05 during midday trading on Monday, reaching $35.85. 578,237 shares of the company's stock were exchanged, compared to its average volume of 633,732. The stock has a market cap of $13.87 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 2.56 and a beta of 0.55. Avangrid, Inc. has a fifty-two week low of $29.33 and a fifty-two week high of $37.70. The firm's 50 day simple moving average is $35.72 and its two-hundred day simple moving average is $35.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.51 and a quick ratio of 0.44.

Avangrid (NYSE:AGR - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.22. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the previous year, the company earned $0.27 earnings per share. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Avangrid, Inc. will post 2.34 EPS for the current fiscal year.

Avangrid Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid's dividend payout ratio (DPR) is 60.48%.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Avangrid in a research report on Wednesday, November 6th. They set a "hold" rating for the company.

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.