Avangrid, Inc. (NYSE:AGR) Stake Boosted by ClearAlpha Technologies LP

ClearAlpha Technologies LP boosted its stake in shares of Avangrid, Inc. (NYSE:AGR) by 54.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 135,420 shares of the utilities provider’s stock after purchasing an additional 48,012 shares during the quarter. Avangrid accounts for about 1.3% of ClearAlpha Technologies LP’s holdings, making the stock its 17th biggest position. ClearAlpha Technologies LP’s holdings in Avangrid were worth $4,847,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in shares of Avangrid during the third quarter valued at $25,000. Blue Trust Inc. grew its stake in Avangrid by 244.9% during the 3rd quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 573 shares in the last quarter. Eastern Bank acquired a new position in shares of Avangrid in the 3rd quarter valued at about $30,000. Venturi Wealth Management LLC lifted its position in shares of Avangrid by 1,939.7% in the third quarter. Venturi Wealth Management LLC now owns 2,978 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 2,832 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Avangrid by 41.2% during the second quarter. CWM LLC now owns 4,537 shares of the utilities provider’s stock worth $161,000 after purchasing an additional 1,323 shares during the period. 13.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Avangrid in a research note on Saturday. They issued a “hold” rating on the stock.

Avangrid Trading Down 0.1 %

Shares of NYSE:AGR opened at $36.10 on Monday. Avangrid, Inc. has a 1 year low of $29.71 and a 1 year high of $37.70. The firm has a fifty day moving average price of $35.82 and a 200 day moving average price of $35.72. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $13.97 billion, a PE ratio of 12.41, a P/E/G ratio of 2.57 and a beta of 0.55.

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

Avangrid Announces Dividend

The company also recently disclosed 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 dividend yield of 4.88%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid’s dividend payout ratio is currently 60.48%.

About Avangrid

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.