Wespac Advisors buys $639,653 stake in Avangrid Inc (AGR)

Avangrid Inc (AGR) : Wespac Advisors scooped up 2,390 additional shares in Avangrid Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 14,371 shares of Avangrid Inc which is valued at $639,653.Avangrid Inc makes up approximately 0.65% of Wespac Advisors’s portfolio.

Other Hedge Funds, Including , Artemis Investment Management Llp added AGR to its portfolio by purchasing 228,533 company shares during the most recent quarter which is valued at $10,172,004. Avangrid Inc makes up approx 0.27% of Artemis Investment Management Llp’s portfolio.Ibm Retirement Fund reduced its stake in AGR by selling 1,261 shares or 18.17% in the most recent quarter. The Hedge Fund company now holds 5,679 shares of AGR which is valued at $256,293. Avangrid Inc makes up approx 0.01% of Ibm Retirement Fund’s portfolio.Creative Planning boosted its stake in AGR in the latest quarter, The investment management firm added 52 additional shares and now holds a total of 14,295 shares of Avangrid Inc which is valued at $654,997.

On the company’s financial health, Avangrid Inc reported $0.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Nov 2, 2015. Analyst had a consensus of $0.29. The company had revenue of $330.50 million for the quarter, compared to analysts expectations of $318.37 million. The company’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.

Investors should note that on Jul 14, 2016, Avangrid Inc announced a cash dividend of $0.4320. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Oct 3, 2016.

Avangrid Inc. formerly Iberdrola USA Inc. is an energy services holding company. The Company through its principal subsidiaries Iberdrola USA Networks Inc. (Iberdrola Networks) and Iberdrola Renewables Holding Inc. (IRHI) is engaged in the regulated energy distribution renewable energy generation (Renewables) and gas businesses (Gas) collectively (Renewables and Gas). The Company operates through three segments: Networks Renewables and Gas. The Networks segment includes all the energy transmission and distribution activities and any other regulated activity originated in New York and Maine carried out by the Company and its subsidiaries. Renewables segment includes activities relating to renewable energy mainly wind energy generation and trading related with such activities. The Gas segment includes gas trading and storage businesses carried on by the Company and its subsidiaries. Iberdrola Networks owns and operates the regulated utility businesses of the Company.

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