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

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

Avangrid Stock Down 0.1 %

AGR opened at $35.73 on Thursday. Avangrid has a one year low of $27.46 and a one year high of $37.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.52 and a quick ratio of 0.44. The firm has a market capitalization of $13.82 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 2.66 and a beta of 0.55. The company has a fifty day moving average price of $35.72 and a 200-day moving average price of $35.79.

Avangrid (NYSE:AGR) last posted its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. Avangrid had a net margin of 11.35% and a return on equity of 4.87%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the firm posted $0.21 EPS. The firm’s revenue was up 21.2% compared to the same quarter last year. Equities research analysts expect that Avangrid will post 2.24 earnings per share for the current fiscal year.

Institutional Trading of Avangrid

Hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new position in shares of Avangrid during the first quarter valued at about $26,000. Bell Investment Advisors Inc raised its stake in shares of Avangrid by 163.9% during the first quarter. Bell Investment Advisors Inc now owns 863 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 536 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Avangrid during the first quarter valued at about $36,000. Toronto Dominion Bank bought a new position in shares of Avangrid during the first quarter valued at about $41,000. Finally, Quent Capital LLC raised its stake in shares of Avangrid by 31.0% during the first quarter. Quent Capital LLC now owns 1,486 shares of the utilities provider’s stock valued at $54,000 after acquiring an additional 352 shares during the last quarter. 13.12% of the stock is owned by institutional investors.

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.