Charles Schwab Investment Management Inc. Grows Stock Holdings in Avangrid, Inc. (NYSE:AGR)

Charles Schwab Investment Management Inc. raised its stake in Avangrid, Inc. (NYSE:AGR) by 28.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 884,742 shares of the utilities provider’s stock after purchasing an additional 197,841 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.23% of Avangrid worth $31,665,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Pathstone Holdings LLC increased its position in shares of Avangrid by 32.6% in the 3rd quarter. Pathstone Holdings LLC now owns 43,836 shares of the utilities provider’s stock worth $1,569,000 after purchasing an additional 10,772 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Avangrid by 4.2% during the third quarter. CIBC Asset Management Inc now owns 11,569 shares of the utilities provider’s stock valued at $414,000 after purchasing an additional 471 shares during the last quarter. Empower Advisory Group LLC raised its holdings in shares of Avangrid by 0.5% during the third quarter. Empower Advisory Group LLC now owns 363,399 shares of the utilities provider’s stock valued at $13,006,000 after acquiring an additional 1,983 shares during the period. GSA Capital Partners LLP raised its holdings in shares of Avangrid by 118.2% during the third quarter. GSA Capital Partners LLP now owns 41,166 shares of the utilities provider’s stock valued at $1,473,000 after acquiring an additional 22,297 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in shares of Avangrid by 1,939.7% during the third quarter. Venturi Wealth Management LLC now owns 2,978 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 2,832 shares during the period. Institutional investors and hedge funds own 13.12% of the company’s stock.

Avangrid Stock Performance

AGR stock opened at $35.67 on Wednesday. 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 market capitalization of $13.80 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 2.54 and a beta of 0.56. Avangrid, Inc. has a 12 month low of $29.71 and a 12 month high of $37.70. The firm has a 50 day moving average of $35.81 and a two-hundred day moving average of $35.71.

Avangrid (NYSE:AGR) last posted its earnings results 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 company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.04 billion. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 earnings per share. As a group, equities analysts anticipate that Avangrid, Inc. will post 2.34 EPS for the current fiscal year.

Avangrid Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid’s dividend payout ratio is 60.48%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Avangrid in a research note on Saturday. 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.