5,457 Shares in Avangrid (AGR) Acquired by Trexquant Investment LP

Trexquant Investment LP acquired a new position in Avangrid (NYSE:AGR) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 5,457 shares of the utilities provider’s stock, valued at approximately $279,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisor Group Inc. increased its holdings in shares of Avangrid by 56.6% in the fourth quarter. Advisor Group Inc. now owns 3,071 shares of the utilities provider’s stock worth $154,000 after buying an additional 1,110 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Avangrid in the fourth quarter worth about $166,000. Wealthstreet Investment Advisors LLC purchased a new position in shares of Avangrid in the fourth quarter worth about $209,000. Rehmann Capital Advisory Group purchased a new position in shares of Avangrid in the fourth quarter worth about $213,000. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of Avangrid in the fourth quarter worth about $216,000. Hedge funds and other institutional investors own 13.88% of the company’s stock.

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Several research analysts have recently commented on AGR shares. Gabelli reiterated a “buy” rating on shares of Avangrid in a report on Wednesday, February 21st. Guggenheim set a $55.00 price objective on Avangrid and gave the stock a “buy” rating in a report on Thursday, February 15th. Bank of America reiterated a “buy” rating and issued a $53.00 price objective (up previously from $52.00) on shares of Avangrid in a report on Thursday, February 22nd. ValuEngine upgraded Avangrid from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Citigroup initiated coverage on Avangrid in a report on Friday, April 13th. They set a “buy” rating and a $58.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Avangrid currently has an average rating of “Buy” and a consensus target price of $52.21.

Shares of Avangrid opened at $53.39 on Friday, MarketBeat.com reports. Avangrid has a 1 year low of $43.13 and a 1 year high of $54.55. The stock has a market cap of $16.39 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 2.44 and a beta of 0.18. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 0.34.

Avangrid (NYSE:AGR) last announced its quarterly earnings results on Monday, April 23rd. The utilities provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). Avangrid had a net margin of 6.36% and a return on equity of 4.59%. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. analysts expect that Avangrid will post 2.38 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 8th will be issued a dividend of $0.432 per share. The ex-dividend date is Thursday, June 7th. This represents a $1.73 dividend on an annualized basis and a yield of 3.24%. Avangrid’s dividend payout ratio is presently 78.64%.

About Avangrid

Avangrid, Inc operates as an energy services holding company in the United States. It engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. As of December 31, 2017, the company delivered electricity to approximately 2.2 million electric utility customers, as well as natural gas to approximately 1 million natural gas public utility customers; and owned approximately 67.5 billion cubic feet of net working gas storage capacity.

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