Verition Fund Management LLC Takes Position in Avangrid, Inc. (NYSE:AGR)

Verition Fund Management LLC bought a new position in shares of Avangrid, Inc. (NYSE:AGR - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 58,178 shares of the utilities provider's stock, valued at approximately $2,082,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Avangrid by 28.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 884,742 shares of the utilities provider's stock worth $31,665,000 after acquiring an additional 197,841 shares during the period. Empower Advisory Group LLC raised its stake in Avangrid by 0.5% during the third quarter. Empower Advisory Group LLC now owns 363,399 shares of the utilities provider's stock worth $13,006,000 after purchasing an additional 1,983 shares during the period. Millennium Management LLC grew its stake 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 buying an additional 79,463 shares during the period. Gabelli Funds LLC grew 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 valued at $10,569,000 after buying an additional 61,574 shares during the period. Finally, Bank of New York Mellon Corp increased 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 buying an additional 54,469 shares during the last quarter. 13.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Avangrid in a research report on Saturday, November 30th. They set a "hold" rating for the company.

Avangrid Trading Down 0.1 %

AGR traded down $0.03 during trading on Friday, hitting $35.55. 537,007 shares of the company's stock were exchanged, compared to its average volume of 761,492. Avangrid, Inc. has a 1 year low of $29.71 and a 1 year high of $37.70. The stock has a 50 day moving average price of $35.80 and a 200 day moving average price of $35.71. The firm has a market cap of $13.75 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 2.54 and a beta of 0.56. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52.

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

Avangrid Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid 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 dividend payout ratio (DPR) is currently 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.