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

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

Avangrid Trading Up 0.6 %

Shares of AGR opened at $35.97 on Thursday. Avangrid has a twelve month low of $29.71 and a twelve month high of $37.70. The stock has a market cap of $13.92 billion, a PE ratio of 12.36, a P/E/G ratio of 2.56 and a beta of 0.55. 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 business’s 50-day moving average price is $35.75 and its 200-day moving average price is $35.78.

Avangrid (NYSE:AGR) last posted its earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share 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 business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the prior year, the firm posted $0.27 EPS. Avangrid’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts forecast that Avangrid will post 2.34 EPS for the current fiscal year.

Avangrid Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Monday, December 2nd. Avangrid’s payout ratio is 60.48%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. QRG Capital Management Inc. raised its position in Avangrid by 225.0% during the second 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 in the last quarter. Natixis raised its holdings in shares of Avangrid by 3,122.3% during the 1st quarter. Natixis now owns 166,432 shares of the utilities provider’s stock valued at $6,065,000 after buying an additional 161,267 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Avangrid in the 1st quarter worth approximately $4,504,000. Creative Planning boosted its stake in Avangrid by 17.4% in the third quarter. Creative Planning now owns 37,986 shares of the utilities provider’s stock worth $1,360,000 after buying an additional 5,618 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Avangrid by 26.9% in the second 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. 13.12% of the stock is currently owned by institutional investors.

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.