Avangrid (NYSE:AGR) Coverage Initiated by Analysts at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Avangrid (NYSE:AGR) in a report issued on Monday. The brokerage set a “hold” rating on the utilities provider’s stock.

Separately, Janney Montgomery Scott reaffirmed a “sell” rating and set a $35.00 price objective on shares of Avangrid in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $34.67.

Avangrid Trading Up 0.4 %

Shares of Avangrid stock opened at $35.53 on Monday. The company’s fifty day simple moving average is $36.08 and its 200-day simple moving average is $34.23. Avangrid has a 1 year low of $27.46 and a 1 year high of $39.13. The company has a current ratio of 0.58, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. The company has a market cap of $13.75 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 2.67 and a beta of 0.55.

Avangrid (NYSE:AGR) last announced its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Avangrid had a net margin of 10.80% and a return on equity of 4.35%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. As a group, sell-side analysts expect that Avangrid will post 2.22 EPS for the current year.

Hedge Funds Weigh In On Avangrid

Several large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in shares of Avangrid by 26.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 8,858 shares of the utilities provider’s stock valued at $267,000 after acquiring an additional 1,843 shares during the period. Schonfeld Strategic Advisors LLC increased its stake in shares of Avangrid by 110.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 170,700 shares of the utilities provider’s stock valued at $5,150,000 after buying an additional 89,600 shares during the period. Advisors Asset Management Inc. raised its holdings in Avangrid by 71.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 152,462 shares of the utilities provider’s stock worth $4,600,000 after purchasing an additional 63,529 shares during the last quarter. Evergreen Capital Management LLC bought a new position in Avangrid during the third quarter worth $290,000. Finally, Royal London Asset Management Ltd. lifted its stake in shares of Avangrid by 3.5% in the 3rd quarter. Royal London Asset Management Ltd. now owns 27,090 shares of the utilities provider’s stock valued at $817,000 after purchasing an additional 915 shares during the period. 13.12% of the stock is owned by institutional investors.

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.