Avangrid (NYSE:AGR) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Avangrid (NYSE:AGR) in a research report sent to investors on Monday. The brokerage issued a hold rating on the utilities provider’s stock.

Avangrid Stock Up 0.1 %

AGR stock opened at $35.67 on Monday. Avangrid has a one year low of $28.75 and a one year high of $37.70. The firm has a market cap of $13.80 billion, a PE ratio of 15.44, a PEG ratio of 2.66 and a beta of 0.55. The firm’s 50 day moving average price is $35.78 and its 200-day moving average price is $35.85. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.44 and a current ratio of 0.52.

Avangrid (NYSE:AGR) last announced its quarterly earnings results on Tuesday, July 23rd. The utilities provider reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.72 billion. Avangrid had a return on equity of 4.87% and a net margin of 11.35%. The company’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 EPS. On average, equities research analysts anticipate that Avangrid will post 2.24 EPS for the current year.

Avangrid Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid’s dividend payout ratio (DPR) is 76.19%.

Hedge Funds Weigh In On Avangrid

Several hedge funds have recently bought and sold shares of AGR. Headlands Technologies LLC acquired a new stake in Avangrid in the first quarter valued at approximately $26,000. Blue Trust Inc. raised its holdings in shares of Avangrid by 244.9% in the 3rd quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 573 shares in the last quarter. Eastern Bank purchased a new stake in shares of Avangrid during the 3rd quarter worth $30,000. Bell Investment Advisors Inc grew 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 worth $31,000 after purchasing an additional 536 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in Avangrid in the first quarter valued at $36,000. Institutional investors and hedge funds 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.