Avangrid (NYSE:AGR) Earns Hold Rating from Analysts at StockNews.com

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

Avangrid Stock Performance

NYSE AGR opened at $36.02 on Wednesday. The stock has a market capitalization of $13.94 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 2.54 and a beta of 0.56. The business’s 50 day moving average is $35.83 and its two-hundred day moving average is $35.71. Avangrid has a 12-month low of $29.71 and a 12-month high of $37.70. The company has a current ratio of 0.51, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52.

Avangrid (NYSE:AGR) last announced its quarterly earnings data 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. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.04 billion. Avangrid had a return on equity of 5.37% and a net margin of 12.89%. Avangrid’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 earnings per share. Research analysts expect that Avangrid will post 2.34 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new stake in Avangrid during the third quarter worth $25,000. Blue Trust Inc. boosted its position in shares of Avangrid by 244.9% in the 3rd 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 acquired a new stake in Avangrid in the 3rd quarter valued at about $30,000. Quarry LP acquired a new stake in Avangrid in the 3rd quarter valued at about $47,000. Finally, Venturi Wealth Management LLC increased 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 acquiring an additional 2,832 shares in the last quarter. 13.12% of the stock is currently 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.