Quantinno Capital Management LP Increases Stock Holdings in Avangrid, Inc. (NYSE:AGR)

Quantinno Capital Management LP increased its stake in Avangrid, Inc. (NYSE:AGR - Free Report) by 23.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 102,927 shares of the utilities provider's stock after purchasing an additional 19,634 shares during the quarter. Quantinno Capital Management LP's holdings in Avangrid were worth $3,684,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Avangrid in a research report on Sunday. They set a "hold" rating for the company.

Avangrid Stock Performance

NYSE:AGR remained flat at $35.55 during mid-day trading on Monday. The company had a trading volume of 645,656 shares, compared to its average volume of 761,003. Avangrid, Inc. has a one year low of $29.71 and a one year high of $37.70. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average price of $35.80 and a 200 day moving average price of $35.70. The company has a market capitalization of $13.75 billion, a PE ratio of 12.22, a P/E/G ratio of 2.53 and a beta of 0.56.

Avangrid (NYSE:AGR - Get Free Report) last announced its quarterly earnings data 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. The company 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 firm's revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. Research analysts forecast that Avangrid, Inc. will post 2.34 earnings per share for the current year.

Avangrid Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.44 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.76 annualized dividend and a 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.