AQR Capital Management LLC Has $1.42 Million Holdings in Avangrid, Inc. (NYSE:AGR)

AQR Capital Management LLC trimmed its stake in shares of Avangrid, Inc. (NYSE:AGR) by 83.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,043 shares of the utilities provider’s stock after selling 207,108 shares during the period. AQR Capital Management LLC’s holdings in Avangrid were worth $1,421,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Caxton Associates LP bought a new stake in Avangrid in the second quarter valued at approximately $507,000. Marshall Wace LLP lifted its stake in Avangrid by 973.5% in the second quarter. Marshall Wace LLP now owns 150,602 shares of the utilities provider’s stock valued at $5,351,000 after acquiring an additional 136,573 shares during the last quarter. Gabelli Funds LLC lifted its stake in Avangrid by 26.1% in the second quarter. Gabelli Funds LLC now owns 297,474 shares of the utilities provider’s stock valued at $10,569,000 after acquiring an additional 61,574 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in Avangrid in the second quarter valued at $1,784,000. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Avangrid by 12.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 62,388 shares of the utilities provider’s stock valued at $2,217,000 after acquiring an additional 6,809 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Avangrid in a research note on Saturday, October 5th. They set a “hold” rating for the company.

Avangrid Price Performance

Shares of NYSE AGR opened at $35.73 on Friday. The company has a market capitalization of $13.82 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 2.67 and a beta of 0.55. Avangrid, Inc. has a 52-week low of $28.75 and a 52-week high of $37.70. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.44 and a current ratio of 0.52. The company’s 50 day moving average price is $35.80 and its 200-day moving average price is $35.87.

Avangrid (NYSE:AGR) last posted its earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.72 billion. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The business’s revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 EPS. Equities analysts forecast that Avangrid, Inc. will post 2.24 earnings per share for the current year.

Avangrid Dividend Announcement

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