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

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

Avangrid Price Performance

Avangrid stock opened at $36.02 on Wednesday. The stock has a 50-day moving average price of $35.83 and a two-hundred day moving average price of $35.71. Avangrid has a 12 month low of $29.71 and a 12 month high of $37.70. The company has a market capitalization of $13.94 billion, a PE ratio of 12.38, a P/E/G 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.

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

Institutional Trading of Avangrid

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in Avangrid by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,072,808 shares of the utilities provider’s stock worth $38,407,000 after purchasing an additional 16,960 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Avangrid by 28.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 884,742 shares of the utilities provider’s stock worth $31,665,000 after buying an additional 197,841 shares during the period. JPMorgan Chase & Co. raised its stake in Avangrid by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 653,201 shares of the utilities provider’s stock worth $23,378,000 after buying an additional 64,720 shares during the last quarter. Empower Advisory Group LLC lifted its holdings in Avangrid by 0.5% in the third quarter. Empower Advisory Group LLC now owns 363,399 shares of the utilities provider’s stock valued at $13,006,000 after buying an additional 1,983 shares during the period. Finally, Millennium Management LLC boosted 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 acquiring an additional 79,463 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.