Campbell & CO Investment Adviser LLC Sells 3,732 Shares of Avangrid Inc (NYSE:AGR)

Campbell & CO Investment Adviser LLC trimmed its position in Avangrid Inc (NYSE:AGR) by 29.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,793 shares of the utilities provider’s stock after selling 3,732 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Avangrid were worth $443,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new stake in shares of Avangrid during the first quarter worth about $25,000. Essex Savings Bank acquired a new stake in shares of Avangrid during the fourth quarter worth about $30,000. ERTS Wealth Advisors LLC acquired a new stake in shares of Avangrid during the fourth quarter worth about $34,000. Bremer Trust National Association acquired a new stake in Avangrid in the 4th quarter valued at approximately $49,000. Finally, Bremer Bank National Association acquired a new stake in Avangrid in the 1st quarter valued at approximately $54,000. Institutional investors and hedge funds own 14.41% of the company’s stock.

AGR traded up $0.22 during trading on Friday, hitting $50.50. The stock had a trading volume of 496,200 shares, compared to its average volume of 441,761. The company has a market capitalization of $15.59 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 2.81 and a beta of 0.12. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $50.79. Avangrid Inc has a one year low of $45.81 and a one year high of $54.18.

Avangrid (NYSE:AGR) last announced its quarterly earnings data on Wednesday, April 24th. The utilities provider reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.09). Avangrid had a net margin of 8.80% and a return on equity of 4.27%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. Avangrid’s revenue was down 1.2% on a year-over-year basis. As a group, sell-side analysts expect that Avangrid Inc will post 2.26 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a dividend of $0.44 per share. The ex-dividend date is Thursday, June 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.49%. Avangrid’s dividend payout ratio (DPR) is currently 79.64%.

A number of equities research analysts recently issued reports on the company. ValuEngine lowered Avangrid from a “buy” rating to a “hold” rating in a research report on Thursday. Goldman Sachs Group upgraded Avangrid from a “sell” rating to a “neutral” rating and raised their price target for the company from $46.00 to $47.00 in a research note on Monday, April 8th. KeyCorp started coverage on Avangrid in a research note on Tuesday, June 4th. They set a “sector weight” rating for the company. Zacks Investment Research upgraded Avangrid from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Macquarie downgraded Avangrid from an “outperform” rating to a “neutral” rating and set a $49.50 target price for the company. in a research note on Monday, March 4th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Avangrid currently has a consensus rating of “Hold” and a consensus target price of $51.43.

About Avangrid

Avangrid, Inc operates as an energy services holding company in the United States. It operates through two segments, Networks and Renewables. The company engages in the generation, transmission, and distribution of electricity, as well as distribution, transportation, and sale of natural gas. It also develops, constructs, and operates renewable energy generation facilities primarily using onshore wind power, as well as solar, biomass, and thermal power.

Featured Article: Intrinsic Value

Institutional Ownership by Quarter for Avangrid (NYSE:AGR)

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