GAMMA Investing LLC Purchases Shares of 1,987 Avangrid, Inc. (NYSE:AGR)

GAMMA Investing LLC purchased a new position in shares of Avangrid, Inc. (NYSE:AGR) during the fourth quarter, Holdings Channel.com reports. The fund purchased 1,987 shares of the utilities provider’s stock, valued at approximately $60,000.

Other hedge funds have also recently modified their holdings of the company. Lindbrook Capital LLC boosted its stake in Avangrid by 132.5% in the 3rd quarter. Lindbrook Capital LLC now owns 1,258 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 717 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Avangrid during the fourth quarter valued at $41,000. Clearstead Advisors LLC increased its position in shares of Avangrid by 60.7% in the 3rd quarter. Clearstead Advisors LLC now owns 3,178 shares of the utilities provider’s stock valued at $96,000 after acquiring an additional 1,200 shares during the period. SG Americas Securities LLC increased its position in shares of Avangrid by 37.1% in the 3rd quarter. SG Americas Securities LLC now owns 3,639 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 985 shares during the period. Finally, Robeco Institutional Asset Management B.V. purchased a new position in Avangrid in the 3rd quarter worth $122,000. Institutional investors and hedge funds own 13.12% of the company’s stock.

Avangrid Stock Up 0.3 %

Avangrid stock opened at $36.65 on Thursday. Avangrid, Inc. has a 52 week low of $27.46 and a 52 week high of $41.22. The firm has a market cap of $14.18 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 2.74 and a beta of 0.56. The business’s 50-day moving average price is $35.19 and its 200 day moving average price is $32.77. The company has a quick ratio of 0.50, a current ratio of 0.58 and a debt-to-equity ratio of 0.47.

Avangrid (NYSE:AGR) last posted its earnings results on Wednesday, April 24th. The utilities provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period in the previous year, the firm earned $0.64 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Avangrid, Inc. will post 2.23 earnings per share for the current year.

Avangrid Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend is Friday, May 31st. Avangrid’s payout ratio is currently 76.19%.

Analysts Set New Price Targets

Several research firms have weighed in on AGR. Wells Fargo & Company boosted their price target on Avangrid from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, February 23rd. Mizuho increased their price target on shares of Avangrid from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, January 3rd. Janney Montgomery Scott restated a “sell” rating and set a $35.00 price objective on shares of Avangrid in a research note on Friday, March 8th. Finally, StockNews.com upgraded shares of Avangrid from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $34.75.

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.