Avangrid (NYSE:AGR) Now Covered by StockNews.com

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

Avangrid Price Performance

NYSE AGR opened at $35.68 on Monday. The company has a 50-day moving average price of $35.78 and a 200-day moving average price of $35.68. Avangrid has a 52 week low of $29.71 and a 52 week 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 capitalization of $13.80 billion, a P/E ratio of 12.26, a PEG ratio of 2.54 and a beta of 0.56.

Avangrid (NYSE:AGR) last released its quarterly earnings results on Tuesday, October 22nd. The utilities provider reported $0.55 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $2.04 billion. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.27 earnings per share. Equities research analysts anticipate that Avangrid will post 2.34 earnings per share for the current year.

Avangrid Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.44 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.76 annualized dividend and a dividend yield of 4.93%. Avangrid’s payout ratio is 60.48%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group bought a new position in shares of Avangrid during the 3rd quarter valued at about $25,000. Blue Trust Inc. lifted its position in shares of Avangrid by 244.9% in the third quarter. Blue Trust Inc. now owns 807 shares of the utilities provider’s stock worth $29,000 after buying an additional 573 shares in the last quarter. Eastern Bank purchased a new stake in shares of Avangrid in the third quarter worth about $30,000. Quarry LP bought a new position in Avangrid during the third quarter valued at approximately $47,000. Finally, Venturi Wealth Management LLC grew its holdings in Avangrid by 1,939.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,978 shares of the utilities provider’s stock valued at $107,000 after buying an additional 2,832 shares in the last quarter. 13.12% of the stock is currently 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.