Geode Capital Management LLC Acquires 16,960 Shares of Avangrid, Inc. (NYSE:AGR)

Geode Capital Management LLC increased its position in Avangrid, Inc. (NYSE:AGR - Free Report) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,072,808 shares of the utilities provider's stock after acquiring an additional 16,960 shares during the period. Geode Capital Management LLC owned about 0.28% of Avangrid worth $38,407,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Avangrid by 28.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 884,742 shares of the utilities provider's stock valued at $31,665,000 after purchasing an additional 197,841 shares during the last quarter. Versor Investments LP purchased a new stake in Avangrid during the 2nd quarter valued at $5,468,000. Marshall Wace LLP lifted its holdings in shares of Avangrid by 973.5% during the 2nd quarter. Marshall Wace LLP now owns 150,602 shares of the utilities provider's stock valued at $5,351,000 after buying an additional 136,573 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Avangrid by 466.5% during the 2nd quarter. Renaissance Technologies LLC now owns 135,400 shares of the utilities provider's stock valued at $4,811,000 after buying an additional 111,500 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Avangrid by 353.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 110,163 shares of the utilities provider's stock worth $3,943,000 after buying an additional 85,847 shares during the last quarter. 13.12% of the stock is owned by institutional investors.

Avangrid Price Performance

AGR remained flat at $36.02 during trading on Wednesday. 10 shares of the company's stock traded hands, compared to its average volume of 777,961. The stock has a 50 day moving average price of $35.79 and a 200 day moving average price of $35.69. The stock has a market cap of $13.94 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 2.54 and a beta of 0.56. Avangrid, Inc. has a fifty-two week low of $29.71 and a fifty-two week high of $37.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.44 and a current ratio of 0.51.

Avangrid (NYSE:AGR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.33 by $0.22. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.04 billion. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. Avangrid's revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 EPS. Equities research analysts expect that Avangrid, Inc. will post 2.34 EPS for the current fiscal year.

Avangrid Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.44 per share. 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 4.89%. Avangrid's payout ratio is currently 60.48%.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Avangrid in a report on Tuesday. They issued a "hold" rating on the stock.

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.