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

Research analysts at StockNews.com assumed coverage on shares of Avangrid (NYSE:AGR) in a report issued on Thursday. The firm set a “hold” rating on the utilities provider’s stock.

Avangrid Stock Performance

Shares of AGR opened at $36.02 on Thursday. Avangrid has a 52 week low of $29.71 and a 52 week high of $37.70. The stock has a market cap of $13.94 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 2.54 and a beta of 0.56. The business has a 50-day simple moving average of $35.85 and a two-hundred day simple moving average of $35.74. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.52.

Avangrid (NYSE:AGR) last posted its quarterly earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share for the quarter, topping the consensus estimate 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%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 EPS. On average, analysts expect that Avangrid will post 2.34 EPS for the current year.

Institutional Investors Weigh In On Avangrid

Several large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in Avangrid by 28.8% during 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 buying an additional 197,841 shares in the last quarter. Marshall Wace LLP increased its position in Avangrid by 973.5% in the second quarter. Marshall Wace LLP now owns 150,602 shares of the utilities provider’s stock worth $5,351,000 after purchasing an additional 136,573 shares during the last quarter. Renaissance Technologies LLC increased its position in Avangrid by 466.5% in the second quarter. Renaissance Technologies LLC now owns 135,400 shares of the utilities provider’s stock worth $4,811,000 after purchasing an additional 111,500 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Avangrid by 353.0% during the third quarter. BNP Paribas Financial Markets now owns 110,163 shares of the utilities provider’s stock valued at $3,943,000 after purchasing an additional 85,847 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Avangrid by 34.7% during the second quarter. Millennium Management LLC now owns 308,134 shares of the utilities provider’s stock valued at $10,948,000 after purchasing an additional 79,463 shares during the last quarter. 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.