Cable Hill Partners LLC Sells 1,237 Shares of Avangrid, Inc. (NYSE:AGR)

Cable Hill Partners LLC reduced its stake in shares of Avangrid, Inc. (NYSE:AGR) by 14.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,485 shares of the utilities provider’s stock after selling 1,237 shares during the quarter. Cable Hill Partners LLC’s holdings in Avangrid were worth $271,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of Avangrid during the first quarter valued at approximately $26,000. Blue Trust Inc. grew its stake in Avangrid by 244.9% in the third quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 573 shares in the last quarter. Eastern Bank bought a new position in Avangrid in the third quarter worth approximately $30,000. Toronto Dominion Bank bought a new position in Avangrid in the first quarter worth approximately $41,000. Finally, Venturi Wealth Management LLC lifted its holdings in Avangrid by 1,939.7% during the third quarter. Venturi Wealth Management LLC now owns 2,978 shares of the utilities provider’s stock worth $107,000 after buying an additional 2,832 shares during the period. Institutional investors own 13.12% of the company’s stock.

Analysts Set New Price Targets

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

Avangrid Price Performance

NYSE:AGR opened at $35.76 on Friday. Avangrid, Inc. has a 52 week low of $29.71 and a 52 week 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 stock has a market capitalization of $13.84 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 2.55 and a beta of 0.55. The stock’s 50-day moving average price is $35.73 and its 200-day moving average price is $35.79.

Avangrid (NYSE:AGR) last issued its quarterly earnings results 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 firm had revenue of $2.08 billion for 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 quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $0.27 EPS. As a group, equities analysts expect that Avangrid, Inc. will post 2.34 EPS for the current fiscal year.

Avangrid Announces Dividend

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