Avangrid, Inc. (NYSE:AGR) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its position in Avangrid, Inc. (NYSE:AGR) by 4.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,569 shares of the utilities provider’s stock after buying an additional 471 shares during the period. CIBC Asset Management Inc’s holdings in Avangrid were worth $414,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Avangrid by 244.9% during the 3rd quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock valued at $29,000 after buying an additional 573 shares during the period. Eastern Bank acquired a new stake in shares of Avangrid during the third quarter worth about $30,000. Toronto Dominion Bank purchased a new stake in Avangrid in the first quarter valued at approximately $41,000. Venturi Wealth Management LLC grew its position in Avangrid by 1,939.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,978 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 2,832 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in Avangrid in the 1st quarter valued at about $132,000. 13.12% of the stock is owned by institutional investors and hedge funds.

Avangrid Price Performance

AGR stock opened at $36.21 on Friday. The firm has a 50 day moving average of $35.77 and a 200-day moving average of $35.78. The company has a market cap of $14.01 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 2.56 and a beta of 0.55. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52. Avangrid, Inc. has a 12-month low of $29.71 and a 12-month high of $37.70.

Avangrid (NYSE:AGR) last announced its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.22. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the previous year, the business posted $0.27 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts expect that Avangrid, Inc. will post 2.34 EPS for the current fiscal year.

Avangrid Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.44 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.76 dividend on an annualized basis and a yield of 4.86%. Avangrid’s dividend payout ratio (DPR) is currently 60.48%.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Avangrid in a research note on Thursday, November 14th. They issued a “hold” rating for the company.

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.