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

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

Avangrid Price Performance

AGR stock opened at $35.55 on Friday. Avangrid has a 1 year low of $29.71 and a 1 year high of $37.70. The company has a market cap of $13.75 billion, a P/E ratio of 12.22, a PEG ratio of 2.53 and a beta of 0.56. The firm has a 50-day moving average of $35.80 and a 200 day moving average of $35.70. 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 (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. Avangrid had a net margin of 12.89% and a return on equity of 5.37%. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the prior year, the company posted $0.27 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, sell-side analysts forecast that Avangrid will post 2.34 EPS for the current year.

Institutional Investors Weigh In On Avangrid

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGR. Signaturefd LLC raised its holdings in shares of Avangrid by 1.8% in the 3rd quarter. Signaturefd LLC now owns 16,301 shares of the utilities provider’s stock valued at $583,000 after purchasing an additional 290 shares in the last quarter. Royal London Asset Management Ltd. raised its stake in shares of Avangrid by 1.7% during the 2nd quarter. Royal London Asset Management Ltd. now owns 28,005 shares of the utilities provider’s stock worth $995,000 after acquiring an additional 471 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Avangrid by 4.2% during the 3rd quarter. CIBC Asset Management Inc now owns 11,569 shares of the utilities provider’s stock worth $414,000 after acquiring an additional 471 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Avangrid by 2.8% during the 2nd quarter. Van ECK Associates Corp now owns 18,305 shares of the utilities provider’s stock worth $650,000 after acquiring an additional 499 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Avangrid by 5.7% during the 2nd quarter. American Century Companies Inc. now owns 10,303 shares of the utilities provider’s stock worth $366,000 after acquiring an additional 560 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

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.