Wolverine Asset Management LLC Takes $255,000 Position in Avangrid, Inc. (NYSE:AGR)

Wolverine Asset Management LLC purchased a new position in shares of Avangrid, Inc. (NYSE:AGR) during the third quarter, Holdings Channel reports. The institutional investor purchased 7,136 shares of the utilities provider’s stock, valued at approximately $255,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Natixis raised its stake in shares of Avangrid by 3,122.3% during the 1st quarter. Natixis now owns 166,432 shares of the utilities provider’s stock worth $6,065,000 after purchasing an additional 161,267 shares during the period. Versor Investments LP purchased a new position in Avangrid in the second quarter valued at about $5,468,000. Marshall Wace LLP grew its position in shares of Avangrid by 973.5% during the 2nd quarter. Marshall Wace LLP now owns 150,602 shares of the utilities provider’s stock valued at $5,351,000 after acquiring an additional 136,573 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Avangrid during the 1st quarter worth approximately $4,504,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Avangrid by 466.5% in the 2nd quarter. Renaissance Technologies LLC now owns 135,400 shares of the utilities provider’s stock worth $4,811,000 after purchasing an additional 111,500 shares during the period. Hedge funds and other institutional investors own 13.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Avangrid in a report on Thursday. They set a “hold” rating for the company.

Avangrid Price Performance

Shares of NYSE:AGR opened at $35.76 on Friday. The company has a 50-day moving average price of $35.73 and a two-hundred day moving average price of $35.79. Avangrid, Inc. has a twelve month low of $29.71 and a twelve month high of $37.70. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $13.84 billion, a PE ratio of 12.29, a P/E/G ratio of 2.55 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.22. The business had revenue of $2.08 billion during 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%. Avangrid’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 EPS. Equities analysts forecast that Avangrid, Inc. will post 2.34 EPS for the current year.

Avangrid Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.44 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.76 annualized dividend and a yield of 4.92%. Avangrid’s dividend payout ratio is currently 60.48%.

Avangrid Company 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.