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

StockNews.com started coverage on shares of Avangrid (NYSE:AGR) in a research report released on Thursday. The firm issued a hold rating on the utilities provider’s stock.

Avangrid Price Performance

Shares of NYSE AGR opened at $36.02 on Thursday. Avangrid has a 12-month low of $29.71 and a 12-month high of $37.70. The company has a quick ratio of 0.44, a current ratio of 0.51 and a debt-to-equity ratio of 0.52. The firm has a market cap 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’s fifty day simple moving average is $35.87 and its 200 day simple moving average is $35.75.

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, topping 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 company 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 firm earned $0.27 EPS. The business’s revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts forecast that Avangrid will post 2.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Avangrid

A number of institutional investors have recently modified their holdings of AGR. Commonwealth Equity Services LLC increased its stake in Avangrid by 5.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 47,194 shares of the utilities provider’s stock valued at $1,677,000 after purchasing an additional 2,528 shares in the last quarter. Rhumbline Advisers increased its position in shares of Avangrid by 6.5% during the second quarter. Rhumbline Advisers now owns 97,417 shares of the utilities provider’s stock worth $3,461,000 after acquiring an additional 5,971 shares in the last quarter. Quest Partners LLC raised its holdings in shares of Avangrid by 18,750.0% in the 2nd quarter. Quest Partners LLC now owns 6,786 shares of the utilities provider’s stock worth $241,000 after acquiring an additional 6,750 shares during the last quarter. Royal London Asset Management Ltd. lifted its position in Avangrid by 1.7% in the 2nd quarter. Royal London Asset Management Ltd. now owns 28,005 shares of the utilities provider’s stock valued at $995,000 after acquiring an additional 471 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Avangrid by 5.7% during the 2nd quarter. American Century Companies Inc. now owns 10,303 shares of the utilities provider’s stock valued at $366,000 after purchasing an additional 560 shares during 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.