Geode Capital Management LLC Has $38.41 Million Position in Avangrid, Inc. (NYSE:AGR)

Geode Capital Management LLC raised its stake in Avangrid, Inc. (NYSE:AGR) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,072,808 shares of the utilities provider’s stock after purchasing an additional 16,960 shares during the period. Geode Capital Management LLC owned 0.28% of Avangrid worth $38,407,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Brooklyn Investment Group bought a new position in Avangrid in the 3rd quarter valued at about $25,000. Blue Trust Inc. increased its stake in shares of Avangrid by 244.9% during the third quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 573 shares during the period. Eastern Bank acquired a new stake in Avangrid during the 3rd quarter worth approximately $30,000. Quarry LP bought a new stake in Avangrid in the 3rd quarter valued at $47,000. Finally, Venturi Wealth Management LLC grew its holdings in Avangrid by 1,939.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,978 shares of the utilities provider’s stock valued at $107,000 after buying an additional 2,832 shares in the last quarter. 13.12% of the stock is owned by institutional investors.

Avangrid Price Performance

Shares of AGR opened at $36.02 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.44 and a current ratio of 0.51. Avangrid, Inc. has a 52 week low of $29.71 and a 52 week high of $37.70. The stock has a market capitalization of $13.94 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 2.54 and a beta of 0.56. The stock has a fifty day moving average of $35.78 and a 200-day moving average of $35.68.

Avangrid (NYSE:AGR) last posted its 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. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates 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 EPS. As a group, sell-side analysts anticipate that Avangrid, Inc. will post 2.34 earnings per share for the current fiscal year.

Avangrid Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid’s dividend payout ratio (DPR) is presently 60.48%.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Avangrid in a research report on Tuesday. They set a “hold” rating on the stock.

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.