Avangrid, Inc. (NYSE:AGR) Shares Bought by BNP Paribas Arbitrage SNC

BNP Paribas Arbitrage SNC boosted its holdings in Avangrid, Inc. (NYSE:AGR) by 17.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,778 shares of the utilities provider’s stock after purchasing an additional 24,597 shares during the quarter. BNP Paribas Arbitrage SNC’s holdings in Avangrid were worth $6,133,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. ATLAS Infrastructure Partners UK Ltd. boosted its holdings in shares of Avangrid by 103.1% in the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,533,320 shares of the utilities provider’s stock valued at $180,789,000 after buying an additional 2,300,782 shares during the period. Millennium Management LLC boosted its stake in Avangrid by 9,303.6% in the second quarter. Millennium Management LLC now owns 527,167 shares of the utilities provider’s stock valued at $24,313,000 after acquiring an additional 521,561 shares during the period. AQR Capital Management LLC boosted its stake in Avangrid by 76.9% in the fourth quarter. AQR Capital Management LLC now owns 829,528 shares of the utilities provider’s stock valued at $35,653,000 after acquiring an additional 360,477 shares during the period. Bank of Montreal Can acquired a new position in Avangrid in the second quarter valued at approximately $13,010,000. Finally, Norges Bank acquired a new position in Avangrid in the fourth quarter valued at approximately $13,306,000. Institutional investors and hedge funds own 12.93% of the company’s stock.

Avangrid Price Performance

Shares of NYSE AGR opened at $31.12 on Tuesday. Avangrid, Inc. has a twelve month low of $27.46 and a twelve month high of $44.77. The company has a current ratio of 0.78, a quick ratio of 0.66 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $12.04 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 3.68 and a beta of 0.47. The firm has a 50-day moving average of $31.18 and a two-hundred day moving average of $35.02.

Avangrid (NYSE:AGR) last posted its quarterly earnings results on Wednesday, October 25th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.15). Avangrid had a return on equity of 2.85% and a net margin of 6.55%. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.99 billion. As a group, analysts expect that Avangrid, Inc. will post 2.12 earnings per share for the current fiscal year.

Avangrid Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date of this dividend is Thursday, November 30th. Avangrid’s dividend payout ratio is presently 127.54%.

Wall Street Analysts Forecast Growth

AGR has been the subject of a number of analyst reports. Mizuho reduced their price objective on Avangrid from $39.00 to $37.00 in a research report on Wednesday, August 30th. TheStreet downgraded shares of Avangrid from a “b-” rating to a “c” rating in a report on Monday, August 28th. Finally, StockNews.com lowered shares of Avangrid from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $37.75.

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 in two segments: Networks and Renewables. It is involved in the generation, transmission, and distribution of electricity; and distribution, transportation, and sale of natural gas.