Marshall Wace LLP Purchases 136,573 Shares of Avangrid, Inc. (NYSE:AGR)

Marshall Wace LLP increased its position in shares of Avangrid, Inc. (NYSE:AGR) by 973.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 150,602 shares of the utilities provider’s stock after buying an additional 136,573 shares during the period. Marshall Wace LLP’s holdings in Avangrid were worth $5,351,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in Avangrid in the first quarter valued at $1,598,000. QRG Capital Management Inc. increased its stake in Avangrid by 225.0% in the second quarter. QRG Capital Management Inc. now owns 33,050 shares of the utilities provider’s stock valued at $1,174,000 after purchasing an additional 22,880 shares in the last quarter. Natixis increased its stake in Avangrid by 3,122.3% in the first quarter. Natixis now owns 166,432 shares of the utilities provider’s stock valued at $6,065,000 after purchasing an additional 161,267 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Avangrid in the first quarter valued at $4,396,000. Finally, Global Assets Advisory LLC bought a new stake in Avangrid in the first quarter valued at $1,540,000. Institutional investors own 13.12% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Avangrid in a report on Friday, September 27th. They set a “hold” rating for the company.

Avangrid Stock Down 0.2 %

Shares of NYSE AGR opened at $35.73 on Wednesday. The stock has a market capitalization of $13.82 billion, a P/E ratio of 15.47, a P/E/G ratio of 2.67 and a beta of 0.55. The company has a 50-day moving average price of $35.77 and a 200-day moving average price of $35.88. Avangrid, Inc. has a 1 year low of $27.46 and a 1 year high of $37.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.52 and a quick ratio of 0.44.

Avangrid (NYSE:AGR) last issued its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the company earned $0.21 earnings per share. The business’s revenue was up 21.2% on a year-over-year basis. On average, equities research analysts forecast that Avangrid, Inc. will post 2.24 EPS for the current fiscal year.

Avangrid Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 4.93%. The ex-dividend date is Monday, December 2nd. Avangrid’s dividend payout ratio (DPR) is presently 76.19%.

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.