Meeder Advisory Services Inc. Invests $216,000 in Avangrid, Inc. (NYSE:AGR)

Meeder Advisory Services Inc. bought a new stake in shares of Avangrid, Inc. (NYSE:AGR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,092 shares of the utilities provider’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds have also bought and sold shares of AGR. American Century Companies Inc. boosted its position in shares of Avangrid by 5.7% in the 2nd quarter. American Century Companies Inc. now owns 10,303 shares of the utilities provider’s stock worth $366,000 after purchasing an additional 560 shares in the last quarter. Royal London Asset Management Ltd. grew its stake in shares of Avangrid by 1.7% during the second quarter. Royal London Asset Management Ltd. now owns 28,005 shares of the utilities provider’s stock worth $995,000 after acquiring an additional 471 shares during the last quarter. Cowen AND Company LLC acquired a new position in shares of Avangrid during the second quarter valued at about $2,842,000. Quest Partners LLC raised its position in shares of Avangrid by 18,750.0% in the 2nd quarter. Quest Partners LLC now owns 6,786 shares of the utilities provider’s stock valued at $241,000 after purchasing an additional 6,750 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Avangrid by 6.5% in the 2nd quarter. Rhumbline Advisers now owns 97,417 shares of the utilities provider’s stock worth $3,461,000 after purchasing an additional 5,971 shares in the last quarter. 13.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Avangrid in a report on Wednesday, September 11th. They issued a “hold” rating for the company.

Avangrid Trading Down 0.5 %

Shares of NYSE:AGR opened at $35.70 on Tuesday. The company has a quick ratio of 0.44, a current ratio of 0.52 and a debt-to-equity ratio of 0.49. Avangrid, Inc. has a 52-week low of $27.46 and a 52-week high of $37.70. The stock has a market cap of $13.82 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 2.66 and a beta of 0.55. The business has a 50-day moving average price of $35.70 and a 200-day moving average price of $35.76.

Avangrid (NYSE:AGR) last posted its quarterly earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the firm posted $0.21 EPS. Avangrid’s revenue for the quarter was up 21.2% compared to the same quarter last year. Equities analysts predict that Avangrid, Inc. will post 2.24 EPS for the current year.

Avangrid Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.93%. The ex-dividend date is Friday, August 30th. Avangrid’s dividend payout ratio is currently 76.19%.

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.