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

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

Avangrid Price Performance

Shares of NYSE AGR opened at $36.08 on Friday. The business has a fifty day moving average price of $35.78 and a two-hundred day moving average price of $35.76. The stock has a market capitalization of $13.96 billion, a PE ratio of 12.40, a P/E/G ratio of 2.58 and a beta of 0.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.51 and a quick ratio of 0.44. Avangrid has a fifty-two week low of $29.71 and a fifty-two week high of $37.70.

Avangrid (NYSE:AGR) last posted its quarterly earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.22. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.04 billion. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. Avangrid’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 earnings per share. As a group, equities analysts predict that Avangrid will post 2.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AGR. Charles Schwab Investment Management Inc. increased its stake in shares of Avangrid by 28.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 884,742 shares of the utilities provider’s stock valued at $31,665,000 after purchasing an additional 197,841 shares during the last quarter. Versor Investments LP bought a new position in Avangrid in the second quarter valued at about $5,468,000. Marshall Wace LLP raised its stake in Avangrid by 973.5% during the second quarter. Marshall Wace LLP now owns 150,602 shares of the utilities provider’s stock worth $5,351,000 after acquiring an additional 136,573 shares in the last quarter. Renaissance Technologies LLC raised its stake in Avangrid by 466.5% during the second quarter. Renaissance Technologies LLC now owns 135,400 shares of the utilities provider’s stock worth $4,811,000 after acquiring an additional 111,500 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Avangrid by 353.0% in the third quarter. BNP Paribas Financial Markets now owns 110,163 shares of the utilities provider’s stock worth $3,943,000 after acquiring an additional 85,847 shares during the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

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.