StockNews.com Begins Coverage on Avangrid (NYSE:AGR)

Analysts at StockNews.com initiated coverage on shares of Avangrid (NYSE:AGR) in a note issued to investors on Saturday. The firm set a “hold” rating on the utilities provider’s stock.

Avangrid Trading Down 0.1 %

Shares of Avangrid stock opened at $35.75 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.52 and a quick ratio of 0.44. Avangrid has a 1 year low of $28.03 and a 1 year high of $37.70. The firm has a market cap of $13.83 billion, a PE ratio of 15.48, a PEG ratio of 2.67 and a beta of 0.55. The company has a 50 day simple moving average of $35.79 and a two-hundred day simple moving average of $35.87.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. Avangrid had a return on equity of 4.87% and a net margin of 11.35%. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the business posted $0.21 earnings per share. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. Analysts expect that Avangrid will post 2.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avangrid

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in Avangrid during the 1st quarter valued at approximately $26,000. Bell Investment Advisors Inc raised its holdings in shares of Avangrid by 163.9% during the first quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 536 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in Avangrid in the first quarter worth $36,000. Toronto Dominion Bank purchased a new stake in Avangrid in the first quarter worth $41,000. Finally, Quent Capital LLC boosted its holdings in Avangrid by 31.0% in the first quarter. Quent Capital LLC now owns 1,486 shares of the utilities provider’s stock valued at $54,000 after acquiring an additional 352 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors.

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.