Athos Capital Ltd Raises Position in Avangrid, Inc. (NYSE:AGR)

Athos Capital Ltd increased its position in Avangrid, Inc. (NYSE:AGR) by 10.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 110,000 shares of the utilities provider’s stock after purchasing an additional 10,000 shares during the quarter. Avangrid makes up about 1.3% of Athos Capital Ltd’s investment portfolio, making the stock its 11th largest holding. Athos Capital Ltd’s holdings in Avangrid were worth $3,937,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AGR. Brooklyn Investment Group bought a new stake in shares of Avangrid during the 3rd quarter valued at $25,000. Blue Trust Inc. boosted its stake in 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 acquiring an additional 573 shares in the last quarter. Eastern Bank purchased a new stake in Avangrid in the third quarter worth about $30,000. Venturi Wealth Management LLC lifted 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 purchasing an additional 2,832 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Avangrid by 41.2% in the 2nd quarter. CWM LLC now owns 4,537 shares of the utilities provider’s stock worth $161,000 after buying an additional 1,323 shares during the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Avangrid Price Performance

Shares of NYSE AGR opened at $36.10 on Monday. The company has a 50 day moving average of $35.82 and a 200 day moving average of $35.72. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.52. Avangrid, Inc. has a twelve month low of $29.71 and a twelve month high of $37.70. The firm has a market cap of $13.97 billion, a P/E ratio of 12.41, a PEG ratio of 2.57 and a beta of 0.55.

Avangrid (NYSE:AGR) last released its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 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 period last year, the company earned $0.27 EPS. Avangrid’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, research analysts expect that Avangrid, Inc. will post 2.34 EPS for the current fiscal year.

Avangrid Dividend Announcement

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 $0.44 dividend. 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 payout ratio is currently 60.48%.

Analyst Upgrades and Downgrades

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

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.