QRG Capital Management Inc. Grows Position in Avangrid, Inc. (NYSE:AGR)

QRG Capital Management Inc. grew its holdings in shares of Avangrid, Inc. (NYSE:AGR - Free Report) by 56.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,568 shares of the utilities provider's stock after purchasing an additional 18,518 shares during the period. QRG Capital Management Inc.'s holdings in Avangrid were worth $1,846,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL lifted its stake in shares of Avangrid by 2.1% in the first quarter. Gamco Investors INC. ET AL now owns 359,807 shares of the utilities provider's stock valued at $13,111,000 after purchasing an additional 7,370 shares during the period. Millennium Management LLC lifted its position in shares of Avangrid by 34.7% during the 2nd quarter. Millennium Management LLC now owns 308,134 shares of the utilities provider's stock valued at $10,948,000 after acquiring an additional 79,463 shares during the period. Gabelli Funds LLC boosted its stake in shares of Avangrid by 26.1% during the 2nd quarter. Gabelli Funds LLC now owns 297,474 shares of the utilities provider's stock worth $10,569,000 after acquiring an additional 61,574 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Avangrid by 14.0% in the 1st quarter. Advisors Asset Management Inc. now owns 262,918 shares of the utilities provider's stock worth $9,581,000 after acquiring an additional 32,223 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Avangrid by 26.9% in 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. Institutional investors and hedge funds own 13.12% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Avangrid in a research report on Wednesday. They set a "hold" rating on the stock.

Avangrid Price Performance

Shares of NYSE AGR traded up $0.22 on Friday, hitting $35.90. The company's stock had a trading volume of 829,611 shares, compared to its average volume of 781,872. The stock has a 50 day moving average of $35.72 and a 200-day moving average of $35.83. The company has a market capitalization of $13.89 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 2.53 and a beta of 0.55. Avangrid, Inc. has a 12-month low of $29.33 and a 12-month high of $37.70. 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 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 firm had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.04 billion. During the same quarter in the prior year, the firm earned $0.27 EPS. Avangrid's quarterly revenue was up 5.5% on a year-over-year basis. As a group, research analysts predict that Avangrid, Inc. will post 2.34 EPS for the current year.

Avangrid Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.44 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.76 dividend on an annualized basis and a yield of 4.90%. Avangrid's dividend payout ratio (DPR) is 60.48%.

Avangrid 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.