Avangrid (NYSE:AGR) Now Covered by Analysts at StockNews.com

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

Avangrid Stock Performance

NYSE:AGR opened at $36.02 on Friday. The company has a market capitalization of $13.94 billion, a P/E ratio of 12.38, a PEG ratio of 2.54 and a beta of 0.56. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $35.89 and a 200-day simple moving average of $35.76. Avangrid has a 12 month low of $29.71 and a 12 month high of $37.70.

Avangrid (NYSE:AGR) last released its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.33 by $0.22. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the prior year, the firm earned $0.27 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Avangrid will post 2.34 earnings per share for the current year.

Hedge Funds Weigh In On Avangrid

A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in Avangrid by 1.6% during the third quarter. Geode Capital Management LLC now owns 1,072,808 shares of the utilities provider’s stock valued at $38,407,000 after purchasing an additional 16,960 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Avangrid in the 3rd quarter valued at about $330,000. Kestra Investment Management LLC purchased a new position in Avangrid in the 3rd quarter valued at about $553,000. Creative Planning boosted its holdings in Avangrid by 17.4% in the 3rd quarter. Creative Planning now owns 37,986 shares of the utilities provider’s stock worth $1,360,000 after buying an additional 5,618 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in Avangrid by 276.5% during the 3rd quarter. Royal London Asset Management Ltd. now owns 105,430 shares of the utilities provider’s stock worth $3,773,000 after buying an additional 77,425 shares in the last quarter. Institutional investors and hedge funds own 13.12% of the company’s stock.

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.