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

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

Avangrid Trading Down 0.1 %

AGR stock opened at $36.10 on Friday. Avangrid has a 1-year low of $29.71 and a 1-year high of $37.70. 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 business’s 50 day moving average is $35.82 and its 200-day moving average is $35.72. The firm has a market cap of $13.97 billion, a P/E ratio of 12.41, a P/E/G ratio of 2.57 and a beta of 0.55.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. QRG Capital Management Inc. raised its position in Avangrid by 225.0% in the 2nd quarter. QRG Capital Management Inc. now owns 33,050 shares of the utilities provider’s stock valued at $1,174,000 after purchasing an additional 22,880 shares during the last quarter. Creative Planning raised its holdings in shares of Avangrid by 17.4% in the third quarter. Creative Planning now owns 37,986 shares of the utilities provider’s stock valued at $1,360,000 after buying an additional 5,618 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Avangrid by 26.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 256,980 shares of the utilities provider’s stock worth $9,130,000 after buying an additional 54,469 shares in the last quarter. Blue Trust Inc. grew its holdings in Avangrid by 244.9% during the 3rd quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 573 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Avangrid by 4.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,724 shares of the utilities provider’s stock valued at $491,000 after acquiring an additional 647 shares in the last quarter. 13.12% of the stock is 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.